Get Your Free eBook

GET IT NOW! Rory Vaden eBook

Sign up to receive my Daily Discipline blog posts via e-mail and get a copy of my popular e-mini book of quotes FREE.

Get a free Rory Vaden e-book!

Avoiding Professional Extinction

extinction

It used to be: “if you do what you’ve always done, you’ll get what you’ve always gotten. ”

Now it’s: “If you do what you’ve always done then tomorrow you may be out of business.”

Don’t believe me?

Ask Blockbuster video.

In 2004 at its peak, it had 60,000 employees, 9000 stores and nearly $6 billion in annual revenues. It had 2 chances to buy Netflix (which was started by an angry customer of theirs who was charged $40 for a late fee) but declined both times.

Blockbuster didn’t want to look at a new business model because approximately 16% of their revenues came from late fees. But if anyone had the chance to capitalize on the market shift and had the resources to squash the competition, it was Blockbuster.

But they didn’t shift.

By 2010 Blockbuster had declared bankruptcy and by 2013 they basically completely vanished from the earth.

You don’t want to be the next Blockbuster video.

Kodak would be another good example. Borders bookstores would fall into this category. Blackberry phones and Taxi cabs may be next.

These are not companies that did anything “wrong” really. They just didn’t adapt. They didn’t evolve. At least not at the speed of consumer demand.

Therein lies the lesson for all of us.

We have to realize that today we live in a world of massive and rapid change.

And that means that for us to stay relevant and useful in the marketplace we have to stay sharp. We have to continually be learning.

We have to continually be growing.

And we have to continually be looking for creative ways to best serve our clients needs.

Which is one more reason why you should consider getting a professional coach.

Because growth, development and innovation are no longer a strategy for success; they are a mandate for survival.

If you aren’t growing and learning and paying close attention to how the world is changing around you right now then you risk going being put out of business.

The scary part is that today we can be rendered extinct not through any lack of our own competence but through sheer force of market forces of change rendering us suddenly as obsolete.

So what are you doing to learn?

Where are you gathering new ideas and skills from?

And who is helping shape you into being the sharpest professional you can possibly be?

We would love the privilege and opportunity to be considered for that role in your life. If you ever want to do a free call to learn more about professional one on one coaching just click here.

  • Daniel F Herbruger

    Excellent article Rory.

    What do you think K-12 learn from the “Blockbuster mindset”?

  • Thanks Daniel! Well, I wouldn’t presume to know what is best for such an established system as K-12. But what I would say is that I feel in general like the more established the existing system, potentially the more at risk they are to disruption. It’s hard to move big ships, and that’s why sometimes the small ones come in and win the battle. What I do know is that anyone in charge of a big system should be constantly asking the question “what is the smarter more effective way to do this?” and “What are the REAL things are customers care about? And how can we deliver those and strip away everything else?”

  • Absolutely agree. Makes me think of Davis vs. Goliath. Keep up the good work Rory!

83 Shares