Wisdom from my business partner, the legend, @bullmanncba #Repost @bullmanncba
No product is guaranteed to remain a hot seller or stay on trend forever. For your brand to stay relevant, you must constantly innovate. Don’t focus on the past, do not get comfortable in the present, but always look toward the future of where your industry and the greater marketplace is going.
A perfect example of a brand that failed to innovate and subsequently, no longer exists is Blockbuster. While Netflix was innovating the movie rental industry by seeing where technology and digital media was going, Blockbuster stayed comfortable in the billion dollar success they had built. And after just a few years, as the internet and social media became more prevalent, brick and mortar movie rental became obsolete as consumers opted for digital streaming. In the end, Netflix took market share and Blockbuster went bankrupt. The lesson for you and I: #InnovateOrDie