How Business Is Changing – Fast! Look at Video Game Sales Plummet
I just had the opportunity last week to spend 3 days with many top entrepreneurs in Dallas, TX and the EO Texas Roundup event. It was inspiring to meet so many top notch leaders of diverse businesses. And all had the same theme – business is changing super fast.
My career in Internet media, games and sales has prepared my mind for constant turmoil of change and taught me how to adapt quickly without being "twitchy" or reactionary. This is a skill all businesses need today and the video game business has shown us what's at stake by just wishing things would stay the same. See this telling article about why game sales dropped 26% in April vs the previous month.
The point is here is a high tech and attractive business that still, despite the sexiness of its content, is run the way it was 20 years ago. It is totally reliant on retail. It has given basic lip service to the rapid pace of Internet development in social games and virtual goods. It is trying to embrace it without killing the golden retail goose. This game has been going on for the past 5 years with one eye shut although everyone knows the Internet is the IP generation and distribution platform that will reign. How can a bunch of smart folks still refuse to embrace the next stage business evolution? Please contribute your ideas – I'll have more on that next week! Have a great and profitable week.