A few valuable lessons from Blockbuster

In a recent article on abcnews.go.com, it was stated they Blockbuster is shutting down its remaining 300 stores.  The rational given for this closure that will take place before this year ends is because digital streaming has taken over.  Since digital streaming of videos is the new way of enjoying movies in the home, there is no need for one to go out to the video store and pick up a movie.  The question is what can we learn from Blockbuster’s store closings and digital media taking over and making such an impact?

Reflecting on the story, I think we can learn a few valuable lessons.  The first lesson is that we must enjoy the season of popularity and vibrancy.  The Blockbuster brand enjoyed an extended period of popularity and vibrancy.  During that time, Blockbuster took advantage of its place in the market and enjoyed the benefits that its popularity afforded it as a brand.  However, it was just that, a season.  The season came and it left.  You will have a season where things flourish and the benefits are immeasurable, however, the season does not last forever.  So, enjoy the benefits of the season.

The second lesson is that we have to recognize when the season has changed.  Just as the leaves fall off the trees and change colors during season changes indicating the seasons have changed; we must look for the indicators of a change of season.  Blockbuster recognized the change of season, thus leading to the closing of the initial stores and ultimately all of their stores.  The change was so visible lately for Blockbuster that there was no other recourse than to shift with the changing of the season and close all its stores.  We must learn to shift with the changing of the season.  Things change; situations change, and people change.  However, just learn to shift when the change occurs.

The final lesson is that we do not have to loose our identity when the season changes.  The president and CEO of Blockbuster, Joseph P. Clayton, said “Blockbuster as a brand isn't dead and will live on in just the sort of digital business that has put the stores and DVD mail service out of business.” His statement clearly teaches because a season changes does not mean you have to loose your identity because of the change. The key is not to change who you are when the season changes, but change how you operate in that new season.  Remember not to change who you are when seasons change, just learn how to be a better you in the new season.