We recall a number of cases where the big guys had dismissed the little guys, only to find themselves upended at a later date. More often than not the big guys end up buying the little guys out - at a vastly inflated price than they could have got them for before - had they taken the time - to look them in the eye.
We recall a time in the UK general insurance industry when the founder of Direct Line was looking to attract investment for his unique idea. We recall that the underwriting directors at the time laughing at his concept. Saying that it would never fly, because policy holders would choose to shop with their local broker everytime.
What they didn't realise was that the founder of Direct Line was planning to apply his new concept against the backdrop of a shifting paradigm. One where the consumer of tomorrow would be a lot less bothered about who they purchased general insurance from, were a great deal more mobile than they had been in the past and valued convenience and savings, over local goodwill.
Today, Direct Line is the largest general insurance underwriter in the U.K. Had other underwriters adopted this model in the early days, many would not now be out of business.
So, keep an eye out for the little guy, with the twinkle in his eye. You can be sure that he is out there somewhere.