Change with the times

The debate has raged for centuries and will continue to do so for further centuries. Do you provide the same ol’ product or do you innovate? Is your product wonderful, excellent quality, just right for the market and needs absolutely no changes? Think again. There is no such thing.

Those organisations who have presented their product in perpetuity and feel that no changes are required will find they need to change or disappear. Some are so obstinate that they would rather cease to exist.

Let’s look at a great example:- the Christian churches. I see this especially in the UK. A plethora of wonderful buildings stand empty and depend on government grants and charity handouts to survive. Most of the services are poorly attended and there is even a rent-a-crowd available to fill spaces where a congregation can’t do it anymore.

Contrary to what the church maintains is the problem, that is people don’t want a faith anymore, I am convinced that human beings more than ever are looking for spiritual sustenance. One need only look at the enormous web presence ‘new age’  blogs and sites have to see that. And never mind the huge followings evangelical sects are blessed with.

This means that the churches are not providing the correct spiritual message. They have not adapted their message or the way they deliver the message in modern times. Eventually, unless they drastically change, the old age pensioners that are keeping the doors open will all disappear and these beautiful churches will become museums.

There have been many instances of products and services that have disappeared. Some companies have embraced the changes and are still around even after a century or so of trade. They have adapted their offering to go with the time.

One such example is the New York Metropolitan Opera. Reading a wonderful article on the Met in the Spiegel, I was impressed at how the current director Peter Gelb has worked to push the organisation into a modern entertainment business.

Some of his critics are lambasting him for changing the rather elitist approach previously held by the Met to one of offering popular entertainment. Possibly Gelb has understood that his core business is entertainment rather than presenting opera to a few people in the know.

One may remember that opera was for the masses after all, a type of movie theater, but live. It has slowly become something only the wealthy can afford to attend. Seat prices have gone through the roof which has brought with it a certain snobbism.

Of course this is all good and well during booming times where grants are aplenty and demand for expensive tickets oversubscribed. But how do you cope with that when the money is not that easily available?

That’s when you have to revert back to your core message, your unique selling point and re-acquaint yourself with that. The Met is in the business of entertainment. It’s wonderful to see how Gelb has broadened the scope of and accessibility to his product.

The Met has broadcast Premieres via Times Square. It has made seats more affordable. Peter Gelb sells streams of music via digital radio and internet TV and ten times a year he broadcasts live into movie theaters. It’s a kind of popcorn opera. And the offering is not only regional. Recently he broadcast to 31 countries and into 850 theaters.  Live opera for all to enjoy.

The purists are groaning. And how loud will they grown when the Met closes down because of insufficient funding, which would surely happen if it were to stay pure? Well in general the purists have shrugged their shoulders and ambled off to other pastures where they can be purists again.

When deciding on your business strategy bear in mind that you need to keep your eye firmly on the market, watch out for new trends and listen to what your customers are looking for or might wish for in the future.

Innovate, create, keep in touch with your customers and never get arrogant are all good principles to stick with in order to have a successful businesses. If you have any ideas to add to this list, please comment. Would love to hear from you. Do sign up to the RSS feed or e-mail newsletters as well.