Your Industry Has Changed but you have not

Unfortunately, businesses, consumers and demands change all the time. It would be great if this were not the case but it happens. Most vets in certain areas of business are very set in their ways and refuse to change with the business tide. it##Q##s not because they are stubborn, many times it##Q##s because they feel inadequate, too old to learn the new industry or they fear being obsolete so they are stubborn. If you refuse to change, your service becomes antiquated and your customers will start looking, if they even HAVE to look, for someone who can adapt to the current trends. Competition is fierce and other entrepreneurs, who may have better resources, are always watching our progress (or regress). We##Q##d like to think our current customers will be loyal but they also have to follow trends and if your company is behind the times, there is a great chance that you will lose money and eventually the business. If you run a record store in 2012, for example, you better be offering something totally unique in your market and beyond that drives the hardcore vinyl consumer to purchase from you amongst other things. Most record stores are out of business today but there are some that still thrive because of what they offer. Amoeba Music in Los Angeles, Berkley and San Francisco is a great example. They thrive because they buy records from customers for pennies on the dollar than sell them for much more. Many of the records from even 50 years ago are still in the rappers because many former music industry people still live in Los Angeles and surrounding areas and they had an abundance of product that they kept stored for decades and now they want to get rid of it. Amoeba sells product online as well, something many record store franchises refused to do which is why they are out of business, but Amoeba also has auctions of music memorabilia, in store performances and they sell used music as well as videos. Amoeba is a FULL SERVICE record store that also employes hardcore music lovers and the store in Los Angeles is almost always packed. How is it that this record store can stay alive and prosper when all the rest have died? They knew the industry was changing, they did their research and they are passionate about what they do.