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Lessons Learned: What The Liquidation Of Borders Can Teach Us About Stagnation
If you haven’t heard the news about Borders shutting down its remaining retail stores, then Paid Content has got your back:
“Borders is closing its 399 remaining stores and 11,000 employees are being laid off. In a statement, Borders Group President Mike Edwards said, “We were all working hard towards a different outcome, but the headwinds we have been facing for quite some time, including the rapidly changing book industry, e-reader revolution, and turbulent economy, have brought us to where we are now.””
Being a past Borders’ customer this news sort of saddens me, especially when about 4 months ago they closed my local store. But to tell you the truth it really isn’t that surprising. Borders Group President Mr. Edwards is right about the “headwinds” and the “rapidly changing book industry” but this the exact cause of why Borders is going totally out of business.
The real reason is stagnation and the idea that “we are too big to fail”, not new unpredictable markets that just swooped in and took up all their business.
Years ago, Borders could have done something to counteract the adoption of the Kindle and by the time the iPad made its way to consumer’s hands, Borders was pretty much out of luck.
Don’t let it happen to you
I’m a technologist and developer. Because of that, having a up-to-date skills and understanding of technology is something that I have to spend time and attention on. Without it, the “headwinds” of my industry will sweep me away and make me useless. Without spending considerable effort staying current my “changing industry” will eat me alive. Sounds familiar, huh?
So, instead of sitting back and being happy with where you are in your skills and understanding of your profession or industry, you should always be identifying opportunities to improve yourself by learning and gaining a better understanding of your work. If you aren’t doing that, then you are stagnating just as Borders has.
Via [Paid Content]
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