Your business model is under threat.
It doesn’t matter how big you are, or how long you’ve been around. The whole thing could come crashing down around you anytime.
Latest Exhibit: the venerable Kodak, which pioneered the camera industry, invented digital photography, then clung to their cash cow (selling and processing film) until it was too late. Now the company is bankrupt and exiting the camera business altogether.
They probably should’ve seen it coming. But do you? What threats lie right in front of you that could put you out of business overnight? Imagine if 10, 20 or 30 years from now the sad victim is Apple or Google or Facebook or some other darling of today. Will we be surprised? Or will we all snicker and say, “They should’ve seen it coming.”
To survive long term, you must stay alert and embrace change.