Today I learned:
1. Don’t lie to your kids: If you accidently break one of your daughter’s toys you need to own up to it. The other natural alternative – telling her it was destroyed by the wolves in the backyard who ate it when it was left out last night – is just a story full of holes that will be picked apart by your highly analytical child at roughly 3:17 am.
2. A Kodak Moment: On the drive to work I listened to an article from the Economist contrasting Kodak’s failed attempt to transition its brand from a dying industry, with that of rival firm Fuji-film which has successfully altered its course, surprisingly, towards a position within the cosmetic industry (among other ventures).
At lunch I found another Kodak article, this time by Seth Godin, that addresses the difficulty successful incumbents have in identifying a new course – my favourite quote being Kodak was “so in love with their success that they insisted the world change in their favor, as opposed to embracing the future that was sure to arrive.”
The lifecycle concept applies to every company in every business and (simplistically speaking at least) only the speed of transition for the industry really differs. Despite that, it is amazing to see how many companies live in the present rather than planning for tomorrow. Personally, it certainly made me think about what percentage of my day I spend in the present and what percent I spend planning for the future. I decided to setup a simple reminder – a bit of “Kodak Time” is now scheduled into my monthly calendar.
As a aside, a special message to the strategists at Kodak:
Digital printing will not save you guys, either. It might not even be viable by the time you get good at it.