Tell Stories To Drive Fundamental Change

Driving Fundamental Change. 

You know your company needs to drive some fundamental change. Imagine walking into your company and saying to leadership, “We need to fundamentally revamp our revenue sources and business model. If we don’t shift to a model in which 100 percent of our revenues comes from different products in the next five years, we will be out of business.” Or try this:

“Well-known stories can accelerate results.” 

The Blockbuster Story

In 1985, Blockbuster opened its first video rental retail store in Dallas, Texas. By the mid-1990s, Blockbuster was a household name, and at its peak, the company had over 60,000 employees, 9,000 stores and branches in more than a dozen countries. Then came the Internet and Blockbuster’s inability to respond to the trend it created. Amazon had just entered the market, expanding from selling cheap books online to cheap DVDs, and a little company called Netflix rolled out a subscription service. It wasn’t until 2004, six years after Netflix launched, that Blockbuster realized it needed to enter the online DVD rental-by-mail space. By then, Netflix was already turning a profit and Redbox had just launched. Blockbuster was already dead—it just didn’t realize it yet. With the rise of Netflix, mail-order DVDs, video-on-demand and streaming services online, the former video giant didn’t stand a chance. Blockbuster filed for bankruptcy in 2010, and was purchased by DISH Network in 2011.

A story of fundamental change that makes a point with a bang.

Follow Us on Social Media

Where do you go for answers?

Try It for Free

Our Learning Community is the one stop shop for the intelligence you need. Instead of countless hours searching for answers, we’ve organized what you need to know across all of the business and personal issues you face. You’ll get answers from 100s of learning modules, tools and templates, vendor reviews and a vibrant community of your fellow entrepreneurs. Try it for free!

By | 2019-09-17T20:54:24-04:00 September 18th, 2019|Daily Perspective|0 Comments

Leave A Comment

The Lonely Entrepreneur