🚀 Businesses that embrace change thrive
🚀 Those that resist it struggle

Take Nokia, for example. Once a global leader in mobile phones, Nokia failed to innovate quickly enough when smartphones emerged. While competitors like Apple and Android adapted, Nokia stuck to its traditional phone designs and operating system, losing relevance in the market. Today, they’re a shadow of their former self.

Similarly, Blockbuster missed the shift from physical rentals to streaming. When Netflix emerged, Blockbuster saw no need to change its business model. By the time they realised the need for innovation, it was too late, and they’re now a cautionary tale of missed opportunity.

Other brands that failed through lack of adapting include:

• Thomas Cook– Couldn’t compete with online travel agencies and collapsed in 2019.
• Maplin – A victim of e-commerce growth, unable to compete with Amazon and online retailers.
• Toys 'R' Us – Struggled with debt and e-commerce competition, closing most stores by 2018.
• Comet– Collapsed in 2012 due to poor online strategy and competition.
• Kodak– Once a giant in photography, it failed to pivot quickly enough to digital.
• BHS (British Home Stores) – Collapsed in 2016 due to financial troubles and an outdated retail model.
• Phones 4u – Failed to adapt to changing mobile retail partnerships, leading to its collapse in 2014.
• Woolworths – Couldn’t keep up with supermarkets and e-commerce, shutting down in 2009.

Growth means learning, experimenting, and sometimes failing forward. The key? A mindset that sees change as an opportunity, not a threat.