One (SHOCKING) Reason Large Companies Fail

Key Takeaways

an interesting question i get a lot is why do big companies fail even some of the largest companies out there like for example yahoo they were once a huge multi-multi-billion dollar company and then they just kept going down sure to this day they're still worth over a billion dollars but they're nowhere near where they were so why is this is because a lot of these big companies aren't adapting if you don't adapt to what people want eventually people are just gonna pass you by and go on to the next thing it doesn't matter how smart you are how much money you have if you can't execute and get stuff done and adapt to people's needs you won't succeed look at apple apple was once doing well then they started going down so much so that microsoft had to bail them out with a hundred million dollars and microsoft didn't bail them out because they wanted to if they didn't they would have had anti-trust lawsuits so they put in a hundred million dollar investment just to keep them around and funny enough look at apple now it's larger than microsoft when things go wrong that also means that you can recover as long as you're listening to people the road to recovery is never easy and it's never quick if you want to avoid that road to recovery you should just continually listen to your customers whether it's picking up the phone and talking to them or whether it's going into the support inbox and listening to what complaints people have even if it's surveying people using tools like surveymonkey whatever it may be if you can take the time to listen to potential customers with their complaints feature requests with the issues that they're having and fix them so that way they complain less and you adapt to more of what they want you're going to be successful it takes time it's not easy but the last thing you want to do is spend 5 10 15 years building this awesome amazing company and then die down because you're too arrogant and you're not willing to listen to other people remember you don't know everything the best way to do well is by having an open mind and listening to other people and being open to new ideas and concepts and if you do that and you adapt and you execute fast you'll continually do all right you may not be at the top you may not be the winner but you'll still be much better off than if you didn't listen to other people and that's why you see a lot of these huge companies come and go they know adapt fast enough they think because they have money they can just buy other people out and that isn't always the case if it was the companies like yahoo would still be huge