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What's Wrong With Radical Departures of Your Business Model - Example And Case Study

February 28, 2012 | Comments: 0 | Views: 182

Generally it is considered unwise to try any radical departure from your core business, or launch a new business model or profit center unless it totally fits into your current customer base and line of work. Sure, I get that, but as an entrepreneur, well, I've been quite successful at doing both. Okay so let's talk about this for a moment and let me give you a potential eventuality, example, and perhaps, a wise future case study to illustrate my point here today.

What if RadioShack were to start a mobile service working on automobile electronics?

Interestingly enough, the other day there was an article in the Wall Street Journal entitled; "A Car That Tweets," and the article went on to suggest that our cars are becoming more electronic each and every day. Yes, I think we all know this, and Detroit is going to have to figure out some way to get all these social networking teenagers interested in buying cars again, because they don't seem to be interested in getting a car right away as has been the reality with previous generations.

Nevertheless, we can expect the integration of social networks, and personal tech into today's automobile. This will be the new norm. However, that makes it difficult because there will be folks who will design new hardware, and software for all of this, and someone will have to install the new stuff, keep it upgraded, and keep it from being hacked. The Geek Squad is an interesting business where they send a geek to your house to work on your computer or help you with some software issues that you might have.

RadioShack has a good business model currently, however, it is also a tough business model in this day and age with everyone able to buy stuff online, and have it delivered right away. It's very hard for them to compete on price, and they have the overhead of a retail location. We all know that Circuit City had gone out of business, and they weren't the first electronics store, or software store, or even computer store in the last decade to file bankruptcy.

Thus, there are times when it does require that companies make a move to the future, and sometimes that calls for a radical departure their business model. Barnes & Noble, for instance is trying to go through that right now as they make the transition to electronic books. In any case, I hope you will please consider all this, and this specific potential future case study.

Lance Winslow has launched a new provocative series of eBooks on Future Concepts. Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank;

Source: EzineArticles
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