Discover more from Scott’s Daily Blog
The Surprising Survival of Established Businesses in the Modern Era
Steve Jobs once said, "Innovation distinguishes between a leader and a follower." In our rapidly changing world, where new businesses rise and fall with alarming speed, this statement seems more relevant than ever. The technology boom, the advent of the internet, and the surge of startups—everything points towards the death of established businesses. But here's the surprise—they're not just surviving, they're thriving.
And no, it's not about having deep pockets or a legacy to lean on. It's about adapting, it's about innovating, it's about learning from the new and blending it with the old.
Take the example of The New York Times. A titan in the world of print journalism, a medium on the brink of extinction. Yet, instead of fading away, they adapted. They embraced digital, expanded their offerings, and today, they're growing at a pace that would make any tech startup green with envy.
Or consider LEGO. A simple, plastic construction toy in an era of iPads and video games. Yet, they survived, not by abandoning their core product, but by augmenting it—movies, video games, theme parks—all while keeping the humble LEGO brick at the heart of their brand.
Innovation isn't the exclusive domain of startups. It's not about age, it's about mindset. Established businesses are like elephants—they might not be as swift or as flashy as the young stallions, but they are resilient, wise, and when they decide to move, they make a path where none existed.
Innovation doesn't always mean inventing something new. Sometimes, it's about taking what you already have and molding it to fit the changing landscape. It's about viewing the new not as a threat, but as an opportunity to learn, to grow.
So, next time you hear about the latest startup making waves, by all means, take note. But don't forget about the elephants. They've been around for a long time, and they're not going anywhere. In the dance of business, they're not just keeping pace, they're leading. It's not about the age of the business, it's about the age of the idea. And ideas, like businesses, don't die—they evolve.