Times are changing for businesses, Mitch Joel posted The Future Of Digital 2013. The internet, social media and a multitude of other advancements in technology have changed the way companies interact with their reality.
It’s too bad that businesses cling to the past and don’t adopt and use these new tools to their advantage. I suppose it’s natural to stick to what we know, but when that happens at the expense of the success of a business it’s inexcusable.
When we fail to adapt to our changing environment, we run the risk of becoming a victim of the change.
I experienced this firsthand as the telecommunications industry moved away from digital communications and into Voice over Internet Protocol (VoIP) communications. Even though the entire industry saw the writing on the wall, not everyone acted in time. The telecom dealers who didn’t prepare for the shift from immediate income to recurring revenue found themselves in a squeeze as their upfront payments dwindled faster than they could build their recurring income.