Did Netflix kill Blockbuster?
or did Blockbuster forget about customers?
Did Amazon kill Sears?
or did Sears forget about customers?
One of my early business mentors told me “you have to be half the price or triple the value for someone to switch from their current provider”. People don’t switch from Sears to Amazon for a couple of pennies… the new had to be much better than the old.
If you were competing with yourself, or competing with your business – how would you attack? Where is that weakness? Fix that. Don’t wait for the customers to discover that someone else does it for half the price or triple the value… because it will be very hard to get them back.
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