Not Too Big To Fail
By Michael Coelho
Don’t get ‘Net Flixed’™!!! (Part 1)
Are you still using a flip phone to communicate?
Are you still using the Pennysaver to job-hunt? (Sorry Grandma!)
Is AOL.com still your primary email address? (Time Warner dropped them like a hot potato in 2009).
If you answered yes to any of these questions, then you may be at risk for getting ‘Net Flixed’™. It’s time to challenge yourself to step up and make some significant changes to help you and your business get to where you want to go.
It was not so long ago that a Blockbuster video store could be found in virtually every neighborhood (9,000 U.S. stores in its peak). Yet despite dominating the video store market for many years, Blockbuster ended up in bankruptcy court in 2010 and closed its doors for good. Considering that consumers are renting and watching movies at home more than ever, why did Blockbuster perish?
Blockbuster perished because they took their focus off of their customer’s underlying need – to rent a video in the most convenient way possible. They failed to change to meet HOW people want to watch their movies at home. Can you imagine having to wait in line with a box of movie candy and the latest DVD release (if they’re not sold out), and then having to return your movies and games to your local drop chute – with a hefty late fee if you’re not on time? NO WAY!
Then there’s Kodak. Do you remember your favorite ‘Kodak Moment?’ Kodak, one of America’s all-time business titans, is sadly gone and forgotten. Yet people are taking more pictures than ever – 2014 is the official year of the “selfie”! (Remember the Oscars?) Kodak never fully grasped how the world around them was changing. They tried to ignore the new technology, hoping it would go away. Like Blockbuster, Kodak focused more on their core business – film development, rather than HOW people want to take pictures.
Are you and your company implementing significant improvements to EXCEED the ever-changing needs and wants of your customers? If not, you are at serious risk of becoming the next Blockbuster or Kodak (not to mention Borders, Sam Goody, or Tower Records).
CHANGE is one of the key skills needed to thrive in today’s business environment, as well for you to thrive in your own personal development.
My challenge to you NOW is to identify your companies’ hypothetical ‘late fees’ that your customers despise and will run away from once there is a viable alternative.
When was the last time you implemented a significant change that really WOWED your customers? (Specific Examples Please).
The good news is that (most often) drastic changes aren’t needed to stay ahead, just consistent implemental improvements like the examples I outlined below. Follow the Blue Tips™ listed below, along with your own change strategy, to manage change in your life and avoid getting ‘Net Flixed’™!
- ABL. Always Be. Effective Change needs continual growth & development. How better are you, and how much more knowledgeable are you in your respective field/industry vs. last year, or even six months ago?
- Use my 5/3/1 strategy to master the skills and goals your are trying to accomplish: Over the next 6 months, read 5 books, listen to 3 CDs (or TED Talks / You Tube Presentations), and attend 1 live seminar.
- Take a page from the playbook of the late, great Steve Jobs: make every interaction with your customers a memorable one – not one that’s dull and boring. I still have the box that my iPad came in – it’s just too nice to throw out.! Jobs was constantly elevating the customer experience, are you? Even the little things count – for instance, when was the last time somebody complimented you on how nice your business card is? (go to Moo.com for the latest & greatest stuff). Do what Jobs did with everything you do: “take a sad song, and make it better”.
My prediction is that these are the next companies to get permanently ‘Net Flixed’™ :
Lastly, here are some additional resources to help you implement and manage change in your life:
‘Who Moved My Cheese’ by Spencer Johnson – great book on dealing with change.
‘Awaken the Giant Within’ by Tony Robbins – an oldie but goody, enables you to discover your true purpose and take control of your life through meaningful change.
And of course you can reach me, Michael Coelho, at email@example.com to help customize your change strategy to meet your personal and professional goals.
What has been your ‘change strategy’? Please send your ideas/comments to: