“We’re the biggest brand in our industry. We aren’t concerned with disruption…”
If you are first within your market or industry, first is not enough.
Biggest player in your market or industry is also not enough.
Netscape was first. MySpace was first. Friendster. Hi5. ICQ. WinAmp.
They were all first to mass market.
People think giants come along and kill things: Facebook, Amazon, Uber, Netflix, AirBnb…
Sure they result in hampered sales for taxis or retail stores, and ultimately caused the demise of Blockbuster, Sears, Toys R Us, Kodak, HBC – they’re all either out of business or closing down locations by the dozen.
The reality is there is a theme amongst these companies.
Suicide is the common cause of death – not homicide.
These companies did not evolve. They created their initial business plan and service offering back when there was a need within the marketplace. But as the marketplace itself changed, and the tectonic rise of online storefronts and mobile ecommerce, their service offering remained the same.
Textbook strategy in how to be left behind.
If you do not evolve in business, the same way as you evolve personally, you will fail.
Think about who you were 10-15 years ago and how very different you are right now.
This is why goals evolve. If you write down your goals today, chances are amazing they will change from goals you write down 5 years from now.
A business is no different. Being first to market is not even almost enough.
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