"Lots of companies don't succeed over time. What do they fundamentally do wrong? They usually miss the future"

When you think about why so many companies fail, it often boils down to one major mistake: they don't see what's coming. They miss the boat on future trends and innovations. This isn't just a vague concept—it's a real issue that can make or break businesses. Companies that don't adapt to changing times, technologies, and customer needs will eventually fall behind.

Take Blockbuster, for example. Once upon a time, they were the king of movie rentals. Everyone loved going to their local Blockbuster on a Friday night to pick up a couple of VHS tapes or DVDs for the weekend. But then Netflix showed up, offering DVD rentals by mail and, later, streaming services. Blockbuster could have adapted. They had the resources and the brand name. But they didn't. They missed the future. They didn't see the potential of online streaming and stuck to their old model. By the time they tried to catch up, it was too late. Netflix had already taken over.

So, what can we learn from this? It's crucial for any business to keep an eye on the horizon. You can't just focus on what's working now. You need to be thinking about what's coming next. That means staying informed about new technologies, understanding shifts in consumer behavior, and being willing to take risks on new ideas.

Imagine you're running a small bakery. You've got loyal customers, and your cakes are the talk of the town. But then you notice a growing trend: people are getting more health-conscious. They're looking for gluten-free, low-sugar, or vegan options. If you ignore this trend and stick to your traditional recipes, you might start losing customers to the new bakery down the street that offers healthier choices. But if you adapt—maybe add a few gluten-free or vegan items to your menu—you can keep those health-conscious customers happy and stay relevant.

So, how do you apply this wisdom? First, stay curious. Keep learning about your industry and look for signs of change. Attend conferences, read industry news, and listen to your customers. They're often the first to know what they want next. Second, be prepared to pivot. This doesn't mean you should chase every new fad, but be open to tweaking your business model if you see a genuine shift happening. Finally, don't be afraid to take risks. Innovating can be scary, but it's often necessary for long-term success.

Think about the story of Kodak. They were pioneers in photography and even invented the digital camera. But they were so focused on their film business that they didn't see the potential in digital photography. They missed the future. By the time they realized their mistake, companies like Canon and Nikon had taken the lead.

In short, the key to lasting success is to keep your eyes open. Don't get too comfortable with the way things are. The future is always coming, and you need to be ready for it. So, whether you're running a bakery, a tech company, or any other business, remember to look ahead. The present is important, but the future is where you'll find your next big opportunity.