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123rf11929697 largeTrain Tracks

There are several movies where a group of boys are walking along the train tracks on their way to an adventure. One of the boys stops and puts his ear to the tracks to listen for an oncoming train. In typical movie drama, the boys realize too late that not only is the train coming, it is just around the corner and bearing down fast.

Business is not that different.

There is always a train coming in the form of a younger, faster, smarter person with a new approach.

There is always a train coming in the form of a younger, faster, smarter person with a new approach. If owners are not diligent, that train will change their business and industry before they can react.

See a Train?

Are you concerned about staying ahead of your competition? Looking for ideas and a catalyst to help you strategize and spot opportunities you and your people are missing?

We’re experts at helping companies reinvent themselves and get on a fast track to growth. Never an obligation. Let’s start a conversation! USA: 877.433.6225 feedback@focalpointcoaching.com

In 2000, Blockbuster was the dominant movie rental business in the country. They had preferential relationships with movie houses and set the trends for new release guarantees, reservations, and many other innovations. However, Reed Hastings had a different idea – pay a flat monthly fee for as many movies as you can watch and he would mail you each movie. When you are done, mail it back and he will mail the next movie on your list automatically.

Netflix put the dominant player in the industry out of business in less than 10 years.

Netflix put the dominant player in the industry out of business in less than 10 years.

As a business owner, you need to have your ear to the tracks every day to make sure that your business is viable today, tomorrow, and for the foreseeable future.

Businesses need to consistently be reinventing themselves

Businesses need to consistently be reinventing themselves and updating their processes and procedures to meet future demands. Otherwise they may find themselves pausing to put their ear to the tracks one day to find out it is too late.

Coming next month: “Real Estate Leases

-         by Greg DeSimone - Beacon Equity Advisors, Inc.

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