In the 20th century, Smith Corona was an American corporate behemoth famous for mechanical calculators and portable typewriters. They lost their calculator business in the 70s when cheap electronic calculators took over the market. They didn’t learn the lesson. When the world embraced computers in the 80s, Smith Corona kept making typewriters. Today, Smith Corona is a rump of a company that makes thermal labels.
The tricky thing is knowing when you (or the company your work for) are committed to building a better typewriter when the world is about to start choosing computers.
Here are a few ideas:
Pay attention to what early adopters in your sector are doing
Pay attention to what the kids are doing in general
When it’s necessary, be absolutely ready to walk away from your sunk costs and do something new.
—Jeff
“Pay attention to what the kids are doing in general,” couldn’t be any more true. I will never be as cool and hip as I once was, but I will enjoy trying.
Grow slowly
Skyler