The Blockbuster on the busy corner near my house just closed. As my kids and I rifled through their used videos I was struck by the how high the slashed prices seemed and by how little I am willing to pay to own a DVD these days, let alone rent one. (In fact, I don’t want the DVDs taking up any space in my house… a whole different topic.) Certainly we all know that Netflix, OnDemand and Redbox have dramatically changed the movie watching landscape. But, the most fascinating question to me is how did Blockbuster, the once undisputed heavy weight champion of DVDs, get so far behind the progress curve?
So many analogies and principles can be built off of this observation, but ask yourself this simple question, could this happen to you in your own industry? Are you so busy doing the work of selling DVDs through a corner retail store that you don’t take the time to look up and look out into the future to develop the next, new, more inventive line of business? And will this lack of attention to the future (which could really just be a few weeks away) end up being the obvious blind spot that knocks you out of the competitive business and into the new dinosaur age.
Matt and I ask ourselves this question often when we think about Factor1Studios. What does the future hold for us in business? What does the web look like as it continues to evolve? What trends are momentary fads and what changes are permanent, representing the new way things will work? And most importantly, what current and future realities most impact our clients when it comes to communicating with your markets about your organization or business? Seeing the future isn’t a magic trick or a hoax, it’s a necessary skill if you plan to move beyond survival.