I was watching TV last night and on came a commercial break. There were 5 commercials in this pod along with a couple of promo spots for the network I was watching. When the pod was over, something dawned on me and that has prompted today’s thought.
Not one of the five companies that were advertising was in business a decade ago. Every single one of them was digitally-based and every single one of them was disrupting an existing business sector.
There was an online realtor who would buy or sell you a house without using a local agent. There was the online employment site that would find you a job and serve as your headhunter. There was a site that would pack your pills into individual doses and mail them to you, no trip to the pharmacists needed. The next company would book your next vacation and notify you if now was not the optimal time to book.
I wonder, a decade ago, if the pharmacists thought that they would be threatened by a company that could fill prescriptions in a way no drug store could and at prices that are reflective of their no physical outlet cost structure? Why bother going on interviews with headhunters when you can post your resume and let the algorithm find you interested employers? Why spend on a recruiter when you can have candidates screened electronically and only see the best?
Satchel Paige is quoted as reminding us “Don’t look back. Something might be gaining on you.” I think that’s optimistic. If you are in any business these days, something IS gaining on you and they may be the advertisers whose commercials you watch as they go by. Disruption is a fact of business life and unless you’re thinking about how your business could be replaced, you’re missing the boat.