Over the last decade brick and mortar retail stores rode an incredible wave, yet by decade end the weak had been smashed on the rocks. Internet retailers had taken enough market share to expose those that had survived selling low margin commodities, poor management and stores with poor retail locations. This is the formula for disaster in any market with any viable competition. Might I mention all of the e-commerce websites that have also blown up: Pets.com, etc.? A poor business model in any venue or time is a poor business model.
My focus in 2020 is to stop blaming the other guy, store or system for kicking my B-Hind. If I did not see a new technology coming or was running a poorly constructed model, so be it.
So if you are fearful of the next wave of something that will overwhelm your business…Catch Up. Get to know what is coming and prepare. This means making time to explore and learn. Time to improve yourself and better your company.
Let’s prepare for what is next make this next decade one of success instead of pointing fingers.
Best to all in 2020 and beyond…. Engage.
I always wanted to write that…