#BusinessClinic: Market Grow and Market Die

Market Grow and Market Die

In business no market is immortal. Brace yourself for it mortality.

When you are in business, constantly keep looking out for a business that could knock your present business off the shelf and be dedicated towards creating that new business.

No market will remain same forever, market will die and another will spring forth.

Karl Marx the famous philosopher was of the view that a revolution would occur in a society that will lead to the weathering away of that society and the birth of a new ideal society. This also implies to business.

A disruption in a sector could mark the death of an old market and the birth of a new one.

Nokia came into the market to disrupt the table telephone business and for years was ahead of others. It's products exhume durability, longevity and long lasting battery life but this could only take them few years.

Blackberry and Apply came and it wasn't just about durability again but style and finesse. Mobile phones were not just tools for communication but a mark of social standard and Nokia phones didn't fit that bill.

Fast forward years later Research In Motion makers of Blackberry didn't see the big picture android operating system brought they believed the Blackberry OS could sustain them, no it didn't. Android phones have since pushed Blackberry into extinction that they have gone back to producing Blackberry Android Phones, same thing they rejected few years back.

Apple has been able to constantly reinvent itself to the demands of the market thus, it unwavering stand as a luxurious products.

You see, "when the world changes, you cannot fight it", so says Gary Sutton, author of the bestseller "Corporate Canaries".
As once a slide begins, it only accelerates.

The best of turn around managers can't fix a dying market, best advise they will give is move to the new market.


How do you spot a dying market?

• When your sales drop and your competitor sales also drop. You're all losing money.
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• When this continues for two (2) years consecutively, it's a death spiral not a cycle - It's a red flag that your market is dying.

Your business is in big trouble.

When nobody is making money in a market - The market is DEAD.

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