This morning I woke up to an Instagram post by Jeff Bezos, the richest man on earth, the CEO and Founder of Amazon.
This inspired me to write this blog, and title it: “Predicting the future in business”
What is there to learn from this simple Instagram post?
To me, I see this as a warning from Mr. Bezos to every single retail outlet in Australia.
“I am coming to eat YOUR market share”
Amazon is one complete powerhouse.
And any business in their space, or close to their space, should be very very scared, concerned, innovating, and pivoting.
This is not a point of being “scared”, it is more a point of survival.
It is a brutal world.
Especially the world of business.
But this one post tells me the writing is on the wall.
Amazon is coming to Australia.
And that means market share is going to be slowly but surely eaten up, unless those businesses are going to do something drastic to secure and protect their market share.
This does not mean all retail business will go out of business.
But those that do not predict – absolutely will.
I made this same mistake with my internet business few months ago.
My 6-figure income stream was shut down in June 2018.
In hindsight (don’t you hate that…), I had a hunch in March 2018. I had a stronger hunch in late April.
But I ignored the hunch, and didn’t prepare – and by prepare I mean, start building a second stream of income. And I got stung.
That’s okay – getting stung is going to happen – and we learn from our mistakes.
And I learned so much.
But my level of confront on the world of business has increased – and it is 100% brutal.
I can go on and on and on about all sorts of situations in the world where you can see companies trying to eat up other companies.
If there is one book that summarizes this point really well is actually “HOW TO WIN IN THE SPORT OF BUSINESS” by Billionaire Mark Cuban. There is competitors out there who are working day and night to figure out how to kick your behind. So don’t get complacent about what you have. Protect it and build more.