Massive disruption is forcing businesses to change - FAST!
Massive disruption is forcing businesses to change - FAST!It had to happen! This was predictable as more and more "collaborative consumption" based businesses enter the market place (uber and Airbnb are two obvious examples). Add subscription based businesses (see Dollar Shave Club, and Who Gives A Crap) and COVID19 to the mix and the disruption to many traditional businesses has been massive and caused them to struggle or go out of business.
Will your business category be next or will you reinvent?
It doesn't matter how much a business owner, or a whole 'category' of business owners (taxis, chauffeurs, couriers etc.) whinge and complain to governments and the media - it's going to keep happening. We live and do business in a global climate now dealing with a pandemic amongst other things. Retailers have been feeling it for some years with the growth in online buying. Another example is the dramatic decline in spending on traditional TV and radio advertising.
The internet and smart phones have been game changers for quite a while. As business people, large and small, we have to embrace change and turn it to our advantage. Einstein allegedly said something along the lines of "We can't solve the problems we have created with the same level of thinking we were at when we created them."
To help business owners reinvent and change I created my business owner mentoring groups to get many heads working on your business. It is absolutely critical if we want to change our businesses and our lives that we change our beliefs and thinking. We can't do it alone.
"For things to change first I must change." Attributed to James Rohn. Become the disruptor not the disrupted!
In my Business Owners Taking Action (BOTA) groups we challenge members to 'uberise' their business category. Be first to reinvent. There are no competing businesses in a BOTA group so members can explore and work on ideas openly and honestly.
Members are challenged and kept accountable for growing their business. Expert speakers and members contribute ideas and work on issues to help everyone.
Contact Us to enquire about joining a BOTA group. Both "In Person" and online groups available.
A very sound prediction – it’s so easy to get stuck in a mindset that sometimes you miss the opportunities available. This is where the benefit comes from working with other people – groups are so much more creative than individuals, and people outside your business often see ideas for improvement that you have been blinded to from spending too much time on the inside.
You are absolutely right Steve! History is full of instances where possibly ‘complacency’ has lead to missed opportunity. Eveyone knows what happened to Kodak due to the digital camera. What most people don’t know is that a Kodak employee created and demonstrated the first digital camera. But the Kodak board said ‘bin it!’ They didn’t want to know because they were a chemical company selling chemicals to the photographic industry! Well, they learned the hard way!