How to Adapt to Changing Times Simon Sinek

I think I think the this profession is going probably you're probably you have the great advantage that there are other professions that have gone through this before you and you can see what they've done and right and wrong and you can see other industries as well how they've screwed it up so for example and it's because because they waited for the change to happen as opposed to grabbing the bulls by the horn the bull by the horns right one ass no big deal right and so for example why is it that Netflix invented Netflix and not the movie and television industry it's because the moving television industry were protecting their old business model and literally ignorant of the fact that the world was changing around them you know the Netflix had this new subscription model and it was a small company blockbuster which was the 800-pound gorilla like you remember when we used to get DVDs in the mail so like they knew streaming was coming they just didn't it was just wasn't very yet and so the CEO of Blockbuster went to the board and said I think we should explore subscription because this little thing called Netflix is onto something that's gonna happen when when the technology gets better and the board wouldn't let him change the business model to subscription because they made 12 percent of their revenues from late fees and look what happened Blockbuster does not exist except for one store in northern Canada and and Netflix is the is the dominant force in television movies why is it that a computer company invented iTunes and not the music industry is because they saw the change coming and the the music industry was still trying to protect selling albums and stores because they saw their customer as Tower Records and HMV whereas iTunes Apple so the customers the person who actually buys and listens to the music why is it that Amazon invented Amazon and the EU leader and publishing industry did not even invent the Kindle like that is it's because they're too busy protecting the old business model so I think if you if you go down this route of protectionism of protecting what we have and staving off change you are signing your own death warrant and if it's not your death warrant your business is gonna become way more difficult and another firm or another that may be completely outside your profession remember iTunes Netflix all of these were companies completely outside their own industry in other words they couldn't even figure out which one of you it's gonna be because it won't be any of you it might be a software company that'll completely eviscerate your your profession and and so I think to be to be the the one that says okay it won't be the way it was we can't defend the way it was and we're gonna have to imagine what if we would invent our industry now knowing nothing what would we do and again this goes back to the question of why well why did you get into the industry in the first place did you get into this profession because you because your parents told you to and you can make a good living you're not gonna be the innovator you know did you get in this industry because you love math you know you're not gonna be the innovator did you get into this industry and do you love this industry when you really get to help people re understand and reimagine how to build an organization because when you can understand the language of mathematics we're gonna send the language of a balance sheet as clearly as you can understand the language of cultural change that's it's kind of like that right it's it's it's the rational and the emotional it's and we said it before which is the numbers are only half a picture of the health of the business and and if you got in this industry to be of service to human beings who are trying to do bigger things for for themselves for their families for society through their customers you might be onto something so the question is what serve what value do you offer to the people who buy your product now how would you do that in this new changing day and age and literally ignore whatever was because it's irrelevant because it may or may not survive the industry the the profit that the profession will do fine if if you're if you're the ones willing to blow up your own business but if if you if you're going to protect your business it'll get blown up for you [Music]

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