The reason lots of the larger household names have gone under recently (in my view) is that they lost their way completely. If you asked anyone what Woolworths was for they couldn't tell you and neither could Woolworths. They just had loads of stores and no idea what they were doing with them.
They concentrated all their effort on being bigger and forgotten to be special. What Woolies ended up doing was selling a bit of everything and ended up selling nothing at all.
If you running a company and you're worried about the future, then concentrate on the customers you have any giving them amazing service and products. Don't go trying to be the biggest in the market, it'll rarely work.
Here's Seth Godin's sage advice on being better not bigger.
Wednesday, April 29, 2009
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