“They always say time changes things, but you actually have to change them yourself.” Andy Warhol

Don’t fear change, but embrace it – look for opportunities

• Change is an inevitable part of life and of business
• E.g. of successful businesses that got left behind or re-invented themselves
• Kodak; Blockbuster; Record stores, book stores, Toys R Us; Wal-Mart; Amazon – original business was selling books; Facebook;  fax machines
• Technology has shortened life cycle of products – what used to be years and decades is now often weeks and months
• Ignoring change will ensure your business will not survive – it is just a matter of time
• The future is not guaranteed – past success does not ensure future success
• Successful businesses continually re-invent themselves by continually looking at their business environment