In a world where technology is always changing and keeping up is a full-time job, products frequently fail to stay current. Yesterday, we saw another casualty of the tech rat race as Cisco announced it was putting its iconic Flip Cam to rest.
Cisco initiated the Flip shutdown “to save money in its lagging consumer products division,” according to NPR. However, several news organizations speculated that the real reason why we’re saying goodbye is because the simple-to-use camera is no match to today’s faster, smarter and more-efficient smartphones.
It didn’t have to be that way. In many minds, the introduction of Apple’s iPad doomed Amazon’s Kindle book reader. Kindle didn’t give up. It went color. It lowered the price. It lowered the price again this week with the help of advertising. Long story short: It watched the market change and it reacted.
Having said that, I stopped reading my Kindle after I bought an iPad. I may have to go back to it, however, since I can’t get it out of my seven-year-old’s hands. My point is, Amazon could have tossed in the towel, and Cisco could have added wifi downloads to the Flip.
Lesson Learned. If you can’t adapt, get out of the workshop. Whether you’re a technology company, marketing firm, traditional business, online retailer or brick-and-mortar shop, you’ve got to be able to keep by adjusting your strategies, tactics, goals and expectations.