Where is the next bounce of the ball going in your industry?
Are you ready for the next bounce of the ball?
Do you know how your industry will look like in the next 5 years?
What are you doing about it to adjust?
One thing that destroys businesses is when someone is designing a business model or a product from one era and ends up in a different era and unwilling to fix it.
Jack Welch said:
“If the rate of change on the outside exceeds the rate of change on the inside, the end is near.”
Think about how Xerox dismissed the smartphone cameras, how Nokia dismissed Samsung and iPhone.
Think about how Blockbuster Video continues to dismiss Netflix.
How to Fix this: Hire diversely. You need young and old, an assortment of backgrounds. Varying and dissenting points of view, when expressed respectfully, will make your business better.
Always keep up with where the trends are going.
Individuals and organisations that are good react quickly to change. Individuals and organisations that are great create change.
There is no resting, the best way to predict the future is to create it, constantly lookings for ways to create new frontiers in your businesses.
Change almost never fails because it is too early. It almost always fails because it is too late.
Change before you have to.