The Downfall of Blockbuster Can Teach us all a Thing or Two!

Embrace the disruptive potential of change, or get left behind.

Imagine your business future. Do you want to be more like Twitter, or more like Blockbuster?

One is a business currently worth over $5 billion and one’s a business failure consigned to history; so we’re pretty sure you’ll go with Twitter.

Harsh? Maybe. But they’re both great lessons in why it’s essential to embrace change as a business if you want to succeed. And what happens if you don't.

Twitter started as a podcasting platform, Odeo. But its founders quickly saw that Apple offered too much competition. So they changed their focus to creating the platform Twitter, which is now worth billions.

But Blockbuster didn’t react to change fast enough. Once a market leader, they failed to respond to a changing customer and market base, as well as competition from streaming services like Netflix, leading to the chain collapsing.

Change is not only good, it’s ESSENTIAL.

We can all use some positive disruption to mix things up a bit, and your business is no different.

You see, everything in the world changes, including your customers and your market. Adapting your business is the only way to ensure you stay relevant and competitive.

Change can make things better for you too. You’ll discover new ways of working and new markets, improving your impact and bottom line.

New challenges mean new opportunities to learn. And that’s always essential for lasting business growth.

But change can be HARD.

We all love our comfort zones. Things are easy there, we know the score. And business is no different.

The problem is, staying in that comfort zone will mean your business will get left behind.

So, change your mindset to respond to change openly and positively. Reduce your resistance to change by focusing on the opportunities and benefits for your business, not the difficulties.

It will be worth it. Just ask Twitter.

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