Can't Change, Won't Change!

Last week saw the final episode in the current series of Alex Polizzi’s ‘The Fixer’.

Aside from being big fans of Alex Polizzi, we’ve watched the programme every week transfixed by the people who have requested the assistance of an expert because their business is in crisis.

Occasionally, we’ve been amazed that despite their business being in dire financial straits several of the owners, having been offered excellent advice, have still remained convinced that they know best.
In one particular case, the owner was so overtaken by his own ‘I’m right, you’re wrong’ ego that he refused point blank to visit another successful business delivering exactly the same service that he was.  I was completely astounded by his attitude.  I would like to think that our own business is successful, but I also know that we need to keep evolving in order to stay ahead – or at least on a par – with our competition.

A perfect example of ‘reinvention’ was discussed in the programme.  It involved Waterstone’s.  Now known as Waterstones, which was in terrible financial trouble.  They were losing business to their main rivals – Amazon and the dreaded ‘Kindle’.  Instead of just allowing themselves to be sucked under they embraced their competitors by working in partnership with Amazon, offering Kindles in-store and portals to take your own Kindle in and purchase e-books.  They also introduced Costa Coffee into their stores, so customers can now sit and read their book in store whilst enjoying a drink and a snack.

I regularly check out our competition by visiting their websites and we have been known on occasion to partake of the odd ‘open course’ to see what’s going on outside of Totem Towers.

Just because you are the boss who started the business doesn’t mean that your original idea is still fit for purpose and should stagnate and stop developing. In business, as in every other facet of life, change is relentless and is the only thing that can be relied upon.

After all, in an ever more consumer savvy world, a wise soul once said “Your competition never sleeps”.