Published by Beverly B. Media and Communications, LLC.
Well another one bites the dust. Last week we heard about one time fashion must have Juicy Couture hanging up its last velour jumpsuit, now Crumbs Bake Shop has baked its last cupcake, both victims of their own complacency. What do these two companies have in common? Other than their demise—their lack of evolution is the answer.
Crumbs Bake Shop has joined a club no business wants to obtain membership to. Members include Kodak, Borders, and Blockbuster. While extremely popular in their time these companies made the mistake of not developing. Like Al Bundy, everybody loves the football jock in high school but by your twenty-year reunion it’s pretty sad if that’s all you have. You can never believe you are too big to fail, there is always someone prettier, faster, and stronger right on your heels. What these once top companies failed to do was look back and look around. They needed to look back to see who was gaining ground and look around at their changing customers and trends. Crumbs grew too fast during the cupcake fad, and if you know anything about fads you know that they burn hot and fast. Anyone still wearing Hammer pants? With dwindling interest should have come dwindling prices, sizes, and locations. Sometimes less is more.
Like a child a business must not only grow but must also adapt to their surroundings, to survive and to also thrive. If a child is unable to function to the full capacity equated to that of an adult once they reach that stage in their life they are considered mentally challenged. The same can be said of any business. A business cannot and should not run the same way they began because the only thing constant is change. To survive and thrive one must ride the wave of progress instead of fighting it. Catch up is not a game anyone wins unless you are the guy up front.
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