Photo Finish

Strategy

From the LA Times:

For photographers and graphic artists, not a pretty picture out there

Think it can’t happen to your industry? Think again. Solving the same old problems in the same way and expecting to get the same pay is a recipe for doom. Take for granted that your business will be radically changed, sooner or later, by technology and increased, cheaper competition.

Be at the forefront of that change, adjust your approach to focus on offering solutions people actually value, and be in position to change gears completely before the floor gives way.

American Express did. They used to be in the freight business. Then they invented traveler’s cheques. In other words, they’re still around because they found a new, better problem to solve.

30 years ago, the New York City garment industry occupied most of the real estate between Fifth and Ninth Avenues from 34th to 42nd Street. It didn’t change, didn’t pay attention, didn’t want to see the signs. Done.

Whether you’re managing a whole company or just your own career, it really doesn’t matter how badly you want things to stay the same. What matters is your ability to see when it isn’t, and then do something about it.

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