Have you ever held onto your position or point of view too long? It gets embedded for maybe the wrong reasons. Be careful of that Kodak moment. That moment when you realise, “things have changed and I am out of touch now”. That can be a painful moment if it is left too long.
You see, we can get attached to our position. We can also defend it. Perhaps we have fought for it. And it seems to have been right. This is because many people have supported us and the results have been very favourable. This is just how Kodak felt over the decades of being in the photography industry.
They felt they had an unassailable position. Things just wouldn’t change that much and they would remain the go-to name in that space. As the leader in that space, they wasted over a decade. Then, the upstarts and technology, fads and trends saw the whole field get turned on its head.
By the time they realised that they had missed the boat on digital photography, it was too late. And so, most people had already moved on to a new party. In addition, they found other players who were far more prepared for the changing world ahead.
We saw this with records, books and cars. Where else do you see the newer ideas and people supplanting the old? Be careful of that Kodak moment.
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