Small Business Survival 101 by Pease Tom;

Author:Pease, Tom;
Language: eng
Format: epub
Publisher: Morgan James Publishing
Published: 2013-08-15T00:00:00+00:00

5

No Change… …No Change

You are going along, making ends meet, making a bit of profit (?) and customers are sticking with you, then BLAM! Change strikes. More like BLAM! BLAM! BLAM! The Change Monster, Businessaurus Rex, is at the door wanting to devour your business. Be expecting it and be a bit in fear of it. Big, small, newly formed, or twenty years in business, change strikes like a lightning bolt.

Are you willing to change your business model? At some point you will have to. Hopefully you spot the need to do so while you have the time. Maybe it’s adding something to it, taking something from it, replacing something, twisting it, turning it, burning it, baking it or breaking it. There is an old adage from somewhere that goes: Don’t try to push back the river. From that came the more modern version: Go with the flow. Both are succinctly saying change is staring you in the face and find a way to change.

Let’s see, not long ago Kodak made film, air mail was fast, TV cameras were huge, the only Internet was a phone, paper maps got you there, Korea only made rice, Wall St. and governments were too big to fail, China meant backward, real estate always went up, videos came from Blockbuster, Apple nearly went bankrupt, bank tellers gave you the cash, newspapers came in the driveway, TWA and Pan Am were class of the skies, books were bought in stores, a text was something written, phones were at home. You used to go to school to go to school but now distance learning means you don’t have to while you earn a degree in your pajamas. High schools are replacing text books with convertible laptop computers. Now you bring your teacher a flash drive instead of an apple. Even the Internet is 25 years old.

The tech area is especially brutal with change. Watch sales declined because time is told by cell phones. Phones devastated photography and its aftermarket not to mention radios, landlines, camcorders, Mapquest, GPSs, alarm clocks, board games, cash, checks, and now laptop sales. Research In Motion, maker of the Blackberry, in only 2009 was named a top 100 fastest growing company, its smart phone deemed indispensible and called the Crackberry because so addictive, saw its stock plunge 90% from the impact of screen based phones. They fired 5,000 in 2012, one third of its workforce. If a well heeled, tech brained company like this has trouble….

We love new tech but each advance brings a death toll elsewhere. Indeed, the aim of most technological advances is to reduce the need for human participation. Nearly every passing year brings these changes maybe beginning with the Industrial Revolution. In 2012 Hewlett Packard fired 27,000 due to the hit taken by its computer and software business from the smart phone. Sharp Electronics is laying off 5,000. Electronics giant Panasonic fired 38,000 in 2011 after losses in its technology related businesses. This again shows the dangers of owning a technology based business, or, the dangers of unforeseen technology making you obsolete.

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