Did Blockbuster lose because they bet on the internet? No, they lost because they waited too long to act.
Hi, this is Shama Hyder, CEO of Zen Media. Right now, along with COVID-19 we’re facing another epidemic, an epidemic of uncertainty. See, risk isn’t the killer of most businesses, it’s uncertainty. It’s waiting, and waffling, and just holding back that gets companies and people in truly hot waters.
Did Kodak lose because they took a risk on digital? No, they lost because they didn’t do anything. They could have built Instagram. Did blockbuster lose because they bet on the internet? No, they lost because they waited too long to act. See, uncertainty certainly dooms us all. This strategy of playing it safe couldn’t be any more wrong. You should not wait and see what 2020 has to offer, who we end up electing, how long this social distancing lasts. A virus doesn’t stop, technology driven disruption, or change, or digital change. The pandemic will come to a close, but disruption will continue to be the norm.
You have to learn to swim in these waters, not hope that somehow the current slows or changes. There has never been more uncertainty than there is today, and it has never been more crucial to assess and act. Yes, absolutely, act. Look at all the people right now who refuse to work remotely or let their people work remotely. How many of those companies have been forced into it right now? We at Zen Media have been remote for over 11 years. People used to ask me where our office was and I used to say, “Well, the cloud.” They’d often ask if that was uptown and I’d respond, “Yes way uptown.” See, remote work is definitely going to be a part of the future. It’s only accelerated what was already coming. This virus is teaching us a lesson in exponential growth. It doubles every three days when left to spread.
The countries who acted fast, won. The ones who played the wait and see game have suffered more losses and this will continue to be the pattern for this pandemic and any future ones to come. Here’s what we know is true. This pandemic and uncertainty will continue to be a part of our lives and businesses until there is a vaccine, and even then there may be future pandemics, future disruptions. This we know to be true. So while others may wait and see what the future brings, the smartest leaders aren’t focused on what they can’t do. They are absolutely focused on what they can do. They are finding new ways to support their customers and engage their teams to keep in touch with their prospects, to keep business going and thriving. For example, restaurants who have never offered curbside delivery are now establishing new systems, enabling systems to be able to do so.
OneDine, our leader in restaurant technology solutions, is offering their technology at no cost to help many of these businesses. A local photographer here is offering front porch photography for families, all while keeping her distance. She’s shooting these from 12 feet away when families convene on their outside porch. Companies are doubling down on influencers, and content, and Facebook ads because you see, the best companies and leaders don’t wait and see. They control their own fate, they build stronger teams, and at the end of the day, they are the market winners.
Hi there, this is Shama Hyder. Again. Thank you so much for watching my videos. I super appreciate it. Please share if you find this information valuable. Do comment, I love hearing from you and be sure to subscribe. That way you don’t miss a single thing.
