I was recently watching a video series and inadvertently sent back the last series of the video series…to Netflix – before watching it. I didn’t want to wait several days to get a new video so I went to Amazon.com’s UnBox Video Service and downloaded the movies to my computer.
The movie industry is fast moving and evolving. Blockbuster was the king of video rentals. Netflix came along and changed the game. Now Amazon.com and other companies are offering full length movie downloads – changing the game again.
What does this mean to you?
This means that you must always be ready and watchful of the evolution of your industry. Maybe you sell toilet seat covers to local retailers. Is there a competitor who is helping retailers sell toilet seat covers better? If so, which toilet seat vendor is your friendly retailer going to buy from? You or the competition?
Barnes and Nobles wasn’t ahead of the curve. Amazon.com came from behind. Microsoft was not ahead of the curve. Google came from behind.
Maybe you are an auto mechanic your competition starts offering customers a custom newsletter helping each customer keep better care of their car?
As your industry changes you MUST keep ahead of the competition and consider ways to stay ahead of the curve as long as it makes sense. This is important.
Check out my recent article on buying a cordless phone for more on this.
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