No doubt, innovation is key to success in business. The most innovative and different companies lead the pack.
A local “hero” of innovation is Silver Wheaton, a metal streaming company and an offshoot Goldcorp. Wheaton makes an upfront payment to “non-silver” mines in exchange for the rights of the silver production. The mines use the upfront payment to fund current operations, expand or explore and Wheaton gets the silver at fixed price. Wow, a win-win.
With this model, Wheaton has locked in its largest expenditure. In business, when you “fix” your most volatile expense, you are winning. Wheaton has overcome the biggest hurdle of their industry. Brilliant and Innovative!
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