As just mentioned, we do not want to intimidate you but open your eyes with an example that you undoubtedly have in mind.
Do you know, or better, do you remember BlockBuster?
He was born in 1985 in Dallas (Texas, USA) with the first store.
It grew at an incredible rate until it opened a store every 24 hours and reached 700 stores in 1989. In 2004 it exceeded 5.9 billion dollars with 9,000 stores and 84,000 employees.
The market changes, everything was changing and they didn't notice.
Here comes cable TV, satellite TV, video on demand that reduces revenue margins. The proposals of the competitors increase and in a few years reduce the competitiveness of the colossus.
We are in 2010, a terrible crisis slaps BlockBuster and the losses are unsustainable. The video rental company was sold in 2011 to a television company and at the end of 2013, despite the efforts, it closed the last 300 stores. From the stars to the stables in less than nine years.
To take away the turnover, in addition to the on demand TV, iTunes and Netflix are also included.
Today Netflix invoices over 8.8 billion dollars. In 2000 the CEO of Netflix met the CEO of BlockBuster to sell the company for 50 million dollars but the administrator of BlockBuster decided that it was a niche too small to be taken into consideration. A serious strategy error of the giant with little foresight in collaborations.
Today Netflix itself sees new competitors sprout and is already working on its business plan of the future. Tomorrow we will see!
This is when we notice the competitors we have around us too late.