What can we learn from Netflix?
Did you see it today? Another apology from Netflix for their decision to split their business lines and double their monthly fees. This is the SECOND apology sent out to their “beloved” customers in about 30 days.
Their decisions have cost them millions (their stock has dropped nearly 50% in a month) and millions of dollars in monthly fees from the nearly 1 million customers they figure to lose. Obviously this was a BAD decision for Netflix, but not the first for a huge brand - remember NEW Coke?
What can we learn from these two debacles?
You cannot win them all - but you can’t stop innovating!
Every new idea comes with risk. Will people understand it? Is there a need? Is it the next BIG THING - or the next flop? You cannot foresee the future - but you can do A LOT of market research (which is easier than ever now with Social media)
Even with the risk you cannot become stagnant and complacent. (Especially if you OWN your market). Your competition is constantly moving forward trying to find ways to take market share, creating the next BIG thing - and tapping your profits.
GET HELP!
The world is constantly evolving - as are the consumers’ needs. Fresh, new ideas (products and services) are consistently needed to move your company forward and make your competition irrelevant. It can be very scary and risky - but the rewards can be great.
As a Small Business you don’t have a million dollar research and development budget (or staff) You need to get helpcreating ideas, redefining markets - and making great ideas REALITY. Trying to handle all of this by yourself (along with your other 900 tasks / day) is just “business suicide”.
GET HELP!
All the best!
-Steven
START HERE
If you are ready to create some fresh, new ideas - make them reality then go to my site www.RockYourBusinessNow.com - and request a call with me.
We’ll brainstorm some opportunities - and see how to create massive momentum, more revenues and greater profits for YOUR business. Isn’t it time to Rock Your Business?
