Netflix today announced they are abandoning plans to rename its DVD service "Qwikster."
I like the quote from Netflix co-founder and CEO Reed Hastings. "There is a difference between moving quickly -- which Netflix has done very well for years -- and moving too fast, which is what we did in this case."
So how fast is too fast?
Many firms never have to ask that question. Or maybe they do and the answer is to never move. Kodak, on the verge of bankruptcy today, was once a pioneer. As early as 1906 it ignored the Haloid Corporation that later became Xerox.
Cowboy Safety recognizes that moving fast is an essential of survival. By having adequate up to date relevant information and market knowledge a firm can move as fast as it has to move.
Sometimes it must move fast when there is a customer at the counter with a unique problem.
Netflix moved too fast because it moved without the knowledge it needed. It did not have the essential knowledge that customers value simplicity. They do not want to have two bills mean from the same company. The real problem Netflix faces is that there are other ways to get the same results. In the last few weeks Netflix has lost market share. More loss may be coming.
David Sneed
I like the quote from Netflix co-founder and CEO Reed Hastings. "There is a difference between moving quickly -- which Netflix has done very well for years -- and moving too fast, which is what we did in this case."
So how fast is too fast?
Many firms never have to ask that question. Or maybe they do and the answer is to never move. Kodak, on the verge of bankruptcy today, was once a pioneer. As early as 1906 it ignored the Haloid Corporation that later became Xerox.
Cowboy Safety recognizes that moving fast is an essential of survival. By having adequate up to date relevant information and market knowledge a firm can move as fast as it has to move.
Sometimes it must move fast when there is a customer at the counter with a unique problem.
Netflix moved too fast because it moved without the knowledge it needed. It did not have the essential knowledge that customers value simplicity. They do not want to have two bills mean from the same company. The real problem Netflix faces is that there are other ways to get the same results. In the last few weeks Netflix has lost market share. More loss may be coming.
David Sneed
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