Support Your Local Platypus

Unicorns are magical. We want them to exist, but they don’t. In the financial world, private companies that hit the $1 Billion valuations are known as Unicorns because they are so statistically rare, and improbable. Like Unicorns, these businesses achieve global, mythical status. They often go on to become highly publicized IPO’s and make their founders rich and famous.

Platypuses are weird. They shouldn’t exist but they do. They combine the traits of dissimilar species that result in an uncomfortable assembly of features from the animal parts bin. But all these parts add up to make the platypus able to thrive in the small streams and rivers of Australia. They are the product of this unique environment where apparently their brand of weird works really well. Needless to say, they are vulnerable to changes in their environment, and outside of their native habitat, they don’t do very well.

Another funny thing about the platypus is that it is embedded into the lore of the indigenous people of Australia, is celebrated on Australian stamps and money, and is a popular sports mascot. It is part of the spirit of the place. Because it is weird it is beloved. 

Most local businesses are like the platypus. Their success comes from having grown out of the unique context of their environment. They have emerged from the specific needs of the community, the tastes of the local customer, and their very weirdness becomes their biggest asset. Often their operating style, business model, and products or menus don’t make sense. And we have all seen that unique local business that tried to open a second location, maybe even in the same zip-code, and failed.

With the COVID-19 crisis, the platypuses in our community face extinction. Their food supply (to compound metaphors…) is being cut off. But the health of our economy and our local identities need an army of platypuses perhaps more than it needs the occasional unicorn. As the world starts to open back up let's all do what we can to support local restaurants and small businesses. Because as the storm passes, we need the unicorn to share the rainbow with the platypus.

Bill Chidley is a Partner and Executive Director of Strategy at ChangeUp. Creating Innovating Experiences that Drive Growth.