Everyone Hates Marketers | No-BS Marketing & Brand Strategy Podcast

[BEST OF] How to Stay Relevant in Business: 3 Tips to Remain Competitive

Jun 28, 2022
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INSIGHT

Resistance to Change

  • Most companies fail to change even if they know they need to.
  • They prioritize familiarity and comfort, hindering adaptation and relevance.
ANECDOTE

Tennis vs. Golf

  • Businesses often focus too much on competitors, like in tennis, instead of the broader market, like in golf.
  • This competitor-centric approach can blindside them to disruptive innovations from unexpected sources.
ANECDOTE

Golden Handcuffs

  • Publicly traded companies, driven by short-term profits, often neglect long-term innovation due to "golden handcuffs".
  • Kodak, despite foreseeing the rise of digital photography, prioritized short-term profits from film, leading to its decline.
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