Western Union was originally a telegram company. The first time, (when the need for telegrams went away) they saw the future and leveraged their existing infrastructure (an office in many cities) to dominate the money transfer business. Their crystal ball broke, though. They should have been PayPal, but they didn’t see the future.
Barnes and Noble should have become Amazon, but they didn’t see the future.
While the record labels and the RIAA were trying to sue kids for downloading music, Steve Jobs saw the future and created the iPod.
Right now, newspapers are dying, magazines are struggling and book publishing industry is hurting. Jeff Bezos saw the future coming and created the Kindle.
What is the future of your industry? What are you doing to prepare?
Polish your crystal ball and look closely because things are changing more rapidly than ever.
Clinging to the status quo is like clinging to an anchor, not a life preserver.