Business lessons from John Antioco

"Blockbuster Video is not changing...We will continue to move full steam ahead with our core business." -John Antioco

4 out of 10 small business owners say their business doesn't need a website

If you're one of them, consider this:

In 2000 Blockbuster Video declined an offer to purchase Netflix for $50 million (US) because Blockbuster's CEO, John Antioco, insisted that digital video rentals were "a very small niche business." Later that year, Antioco declined another offer that would've allowed Netflix to partner with Blockbuster and manage its online rental business through the company's website.

At its peak, Blockbuster employed 84,300 people in 9094 stores worldwide. By the time Blockbuster realized it needed a digital business model, it was too late. The company filed bankruptcy in 2010, six years after reaching its peak.

Businesses die if they don't evolve. Yet, most business owners don't pay attention to tech trends. Why?

Changes in technology are easy to miss when you're busy running a business.

If most of your clients are repeat customers or referrals, it's easy to dismiss the need because you're "doing just fine without a website." Well, my friend, that deception will likely be the very reason your business dies.

Just because things are fine right now doesn't mean you don't need to do anything to prepare for the future. That's like refusing to leave a burning building because you can't see the flames. You're going to die if you stick around too long. The same is true for businesses. If you ignore the need to change until it's too late, your business will die.

Here's what business owners really mean when they say, "I don't need a website."

  • "I don't understand how a website will help my business or my customers."

  • "I think a website costs more than it's worth."

Every business owner has considered the cost and time it would take to get a website. If you don't have one, it's not because you don't need it....You think it isn't worth the hassle or expense. In other words, you'd want one if it were easy enough and cheap enough.

What would Mr. Antioco Say?

It doesn't matter how well you've done in the past or how well you're doing right now. If you don't have a digital strategy for your business, you're playing with fire. I'm sure John Antioco would agree.

That's It

Marketing, LLC.

Franklin, TN 37067

Tel: 615 957 1462

Hours: 9am - 7pm

706 Barlin Court

Nashville, TN 37221

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