the business revolution - #himc nyc 1/12

The Business Revolution.

Hyper Island Master Class

Terrible time to IM with your assistant, great time to though.

2(psst - #HIMC)

Hi, I’m @darrellwhitelaw. Technology Experience Lead / co:collective

We all have a past.

2 studiosa bunch of people

lots of money2 years

Clients

Proof it works.

Evolving Business Models.

The definition of “business model”

A business model describes the rationale of how an organization creates, delivers, and captures value.

Every business changes, it’s just a question of how gracefully they do it.

A short story.

(©1888)

At it’s peak.

• pioneer in technology in the late 1800’s• built a digital camera by 1975• accounted for 90% of film sales in US in 1976• regularly rated one of the 5 most valuable brands• revenue of $16B in 1996• 145,000 employees

Forecasted the death of film would be 2010 . . . in 1979

Today.

• will be bankrupt unless it sells off 1000 patents• restructuring into multiple business units• nine quarterly losses in three years• revenue of $6.2B• share price has fallen 90% in one year• ~1,450 employees

Pretty much the same leader as Kodak in Asia.

Today.

• operating in several successful (new) markets• consistent YoY gains• 40% share of photofinishing market• 78,862 employees• generally not fucked

The similarities

• both companies• both made film at one point• both had their business rendered obsolete

(I’d argue it stops there)

A culture of complacency:

• took too long to make acquisitions

• management held onto film business

• perfectionist mindset in new business channels

An early three-pronged strategy:

• squeeze as much money out of the film business as possible

• prepare for the switch to digital

• develop new business lines.

Don’t be lazy.Don’t be irresponsible.

Shigetaka KomoriCEO - Fujifilm

Kodak acted like a stereotypical change-resistant Japanese firm, while Fujifilm acted like a flexible American one.

The lesson is?

What worked in 1912 won’t work in 2012. unless your industry is crochet.And then it’s probably automated, so there.

Because change is

hard, costs money and

is risky.

But I can assure you of 3 things.

Death, taxes and the CMO will be gone in 18 months.

Innovate early, often and aggressively.

Know your company CAN change.

Predict market changes and act accordingly.

Find a tolerance point between awesome and profitable

Curation & Community.

1934 - 2003 1989 - Present

MCA built an empire based on music as a commodity.

It worked for years.

Then the bottom fell out

Uh oh.

Matador on the other hand focused on curating a culture, and adding value to a scene and community.

It’s still working.

Old media will adapt to find new models of consumption

“The key discovery is that we’re not just driving digital growth, we’re driving analog growth.”- Lisa Hsia, VP New Media Bravo

Outlive

There is no silver bullet for longevity.

(don’t sleep!)

Netflix, July – November 2011

Every giant will fall and every innovator will make a mistake.

But try to stay positive.

The goal is to learn to change rapidly to recover and thrive.

Thanks!

Get at me, @darrellwhitelaw or darrell@darrellwhitelaw.com if you’re legacy.

the business revolution - #himc nyc 1/12

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