Here's some food for thought. Of course they're broad stroke statements, but useful to consider.
Product Weakness + Lack Of Innovation = Dead Business Models
- Netflix did not kill Blockbuster. Late fees and a lack of innovation did.
- Uber did not kill the taxi business. Limited taxi access, fare control, and a lack of innovation did.
- Apple did not kill the music industry. Being forced to buy full-length albums and a lack of innovation did.
- Airbnb did not kill the hotel industry. Limited availability, limited pricing options, and a lack of innovation did.
- Amazon did not kill other retailers. Bad customer service and experience alongside a lack of variation and innovation did.
Technology by itself is not the real disruptor. Being non-customer centric and neglecting to innovate your products and services are the biggest threats to any business.
How are you staying alive?