Steve Kaplan's Blog

March 1, 2011

Filed under: Uncategorized — stevekaplan @ 10:08 am

Regardless of the size of your business, you always, always, always must evolve with the time so you’re services stay relevant and your competitors don’t knock you out of the running.  The Netflix/Blockbuster story is widely-known and recent example of this. Although Blcokbuster did eventually start offering services such as streaming and postal mail renting, the efforts didn’t come off strongly enough and were offered once it was too late.

In other words, they waited too long.

Take a lesson from Blockbuster. Don’t just assume that if your business offers terrific services and is full of outstanding employees, and your prices are fair that your business will prevail. Stay relevant and make sure your business evolves with the time. If your business is doing the exact same things- the exact same way- as it was ten years ago, there’s a big problem. Change is a must- especially now in these tough economic times when technology is advancing every day.

netflix and blockbuster

Image Courtesey of Business Insider

If anyone is going to take you out of business, it mine as well be yourself.


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