As we get more years under our belt, we gain experience. As we gain experience, we offer more value. We [think we] know more than the next guys. We leverage it, thrive off it, and we profit.
Then, one day, a disruptor or two comes along and shakes the foundations. The question is, do you have the agility to stay in the game? Or even the desire?
The past is littered with companies that had an advantage but slipped into obscurity. Yahoo, Kodak, MySpace were all huge businesses with substantial market shares, complete with management structures that should have known better. The UK high street is currently boarding up the properties of long-standing retailers, such as BHS, Debenhams and Top Shop.
It’s not that the markets disappear; it’s that the delivery mechanism improves.
- Technology companies don’t ship hardware so much now they have the Internet; they sell licenses.
- Uber didn’t need cars to become the most prominent global taxi company.
- Just Eat and Deliveroo don’t need to own restaurants.
If you are not a disrupter, making a profit can become disjointed. It’s about edge; it’s about niche; it’s about fight.
The thing is, the older and wiser you are, the better you know the fights you should take on. Don’t you?