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Daily Inspiration: "‘Your time is gonna’ come’ need not be your epitaph!" - Futurist Jim Carroll

Innovate or die.

It's that simple.

Here's a simple list of companies that were once great successes. Then they weren't: Blockbuster. Borders. Lehman Bros. Kodak. Circuit City. RadioShack. Pan-Am. Enron. E.F. Hutton.RCA. Tower Records. Polaroid. Woolworths. Compaq. Arthur Anderson. The list could go on.... companies that were leaders in their time, and then failed, due to a lack of innovation; a failure to adapt; ethical problems; or other factors that could have been avoided.

In the next 10 years, we will see several established companies added to the list.  We'll also see a lot of medium and small-sized enterprises go the same way - except we won't see them on such a list. They'll just disappear in a swirl of emotional upset.

Right now, some of them could be making decisions to avoid that fate.

They aren't.

Here's some interesting food for thought from a great article on the issue of corporate longevity:

"The S&P 500 lists the 500 most valuable companies in the United States. Dick Foster, a McKinsey consultant, studied their average lifespan. It is a sobering tale that reminds us just how fast-paced business innovation has become. In 1937, the average tenure of companies on the list was 75 years. By 1960, it was 61 years. In 1980, 37 years. In 2000, 26 years. Today, an average of 15 years."

Your chance for longevity and survival is shrinking. Disruption, business model change, and technological transformation are real, and so you have a simple choice: innovate or die.

Your time is 'gonna come - so let it arrive the right way!

#InnovateOrDie #Adaptability #Survival #Disruption #Change #FutureProof #Leadership #Transformation #Longevity #Reinvention

Original post: https://jimcarroll.com/2024/10/daily-inspiration-corporate-longevity-innovation-your-time-is-gonna-come-need-not-be-your-epitaph/