Why Strategic Planning Is Important For Small Business


So yeah topic today. Title Net flicks worst nightmare. What's the worst nightmare eh? We've talked about this a lot but maybe we haven't talked about it on air. I don't think specifically so obviously when we were putting the information together You know we talked to one F lakes and article in Forbes magazine by Stephen McBride and one of the things that says which will then pull from today is that the net flicks in the last decade. Their stock has risen to about eighty. Five hundred percent has risen by eighty-five hundred percent. That's not because streaming ozzy caught fire. I mean streaming is like first of all the word streaming was invented. Because of what Netflix does I know like no one used the word really like streaming in relation to viewing things until Netflix really came along and now it's like streaming as his own category which is impressive. Whenever you can create its things Hastings Reed Hastings Ya Hastings company that like the smart brands words words right Amex? Yeah exactly. It's like netflixing. Chill not exactly that one. Maybe actually. That's he can miss his better thing. Big You're like old married couples. That's what they say will take Shade Mahar in the tender tender account. I don't F- looks to me Netflix. And Chill and has put Netflix ongoing asleep so because the different indices sold as me. That's the that's what I do. They netflixing watch Netflix. Watch me so anyway. So net flicks achieved those gains. How do they do it? They literally disrupted video rental the whole industry. They stole millions of customers. Oh no not even just a video rental like they they were beyond that streaming actually took away customers from the large cable companies. Millions of cable companies loss customers at the hands of readings Netflix. God I'd love to be able to drop Kale. I know I have a way to watch sports without having in cable. 'cause that's literally. The only thing tying cable Youtube Youtube Youtube. TV Okay Forty nine ninety nine a month all regions force not end more mass. Let's check that. I have it now but accidents because I still have direct TV. Once they cancelled DIRECTTV next year. I'm GONNA switch completely over to Youtube. TV sweet actually be free. Leave so so Netflix. Still literally tens of millions of customers from cable companies because so much content yet you know I can literally don't I can't even tell you what channels are what on cable. All I know is that you'd have to hit five hundred to get into like your hd but after that. Ah I'm just hitting like the page until I fall. Oh there we go. That's what I WANNA watch. I can't tell you anything but you WANNA know what's on Netflix. I know all you know what I mean like. I'm always always watching documentaries. And movies and everything so yeah I completely feel that way. It's funny because articles here says says that Last year half of Americans a twenty to forty five didn't even watch a second of cable TV. That's crazy isn't nuts. Wow that's true disruption. But here's the problem. oftentimes when there's a a good idea invented where comes out disrupts the whole marketplace replace what happens competition. Man are the big boys get into the they see going on they get they own honestly that Pie. So that's what's happening right now. Man Disney plus who you name it right there all stripping away so my net flicks is Grip tight grip on this on the street. And there's more coming. Yeah like because all licenses that netflix expiring or not renewing because those major are those major television and film houses are taking the licenses back in creating their own streaming service. You know that's crazy. Yep so the point of this. Is that Netflix. Says worst nightmare would be that what they did the cable. Obviously it's going to happen to them. Yeah we'll be done to them. Do you think that people would cancel their netflix memberships. Though like cable 'cause I see it as a way where people just reduce their netflix subscription. More so than. Cancel it because Netflix still has like so much offer. Yeah that's a good question so we extrap- extrapolating out. I'm looking at it that we would have to reduce it because they still put out some good stuff. They have netflix originals. That some some of them are actually really good now some of the NFL. So I think it's just what I've talked to house of cards. Yeah this is why I've talked about affair with you that I still feel the same as that A little bit off topic but I think me personally for the end consumer. It's a disservice to them. Because you know in a world where everybody is like I you said I'd love to get off the cable. Save some money when you really start to do the math. It's like I think. NBC's starting to get their own thing. Soon we're just reading in in this article. Eighteen tease looking to start their own already. Disney plus we already know Hulu and some of these other ones when you break down all the different subscriptions that you're paying for. It's like Mike expresses went up not down exactly. So how much is Netflix is. Net flicks is fifteen. ninety-nine that's how much I pay and then Disney pluses twelve ninety nine. It's all ready twenty nine dollars here and then Hulu Hulu Netflix and ESPN. But then like let's say you get get what's the other one Like NBC. What if they come on you know what I mean because they have the office and they have friends? It's in frazier and I think those are like the top things that are watched on Netflix. And I love Frazier Frazier okay. Oh don't forget the apple apple plus came out to Oh did it yes apple pluses apples streaming service. And that's like four ninety nine one hundred dollars for cable or three hundred for seriously seriously. But you know what's GonNa Happen is that it's just going to be things that people watching cancel. There's going to be this. Subscription does monthly subscription service. This is going to turn into people turning on and turning off being hop skip like I just already heard of people doing that with the mandatory now that it stopped just cancel their Disney subscription. And they'll come back and they'll come. I'm back and so what happens. Disney just lose revenue because people are leaving and coming back. That's not the kind of when you have a scripture over. She won't be able to be subscribed for life like you don't want cycles of three month customers and then come back this and that it's just like you know you know. They really is a paid. But the reason why we bring this up in the entrepreneur. Life is because as is entrepreneurs. This is going to happen. Competitions part of business is you know especially even if you have something that disrupts the market as much much is a net flicks people come in Nelson and got this really great idea. No one else is doing it. There's no competition and they could be right there. There may not be any competition. But you can't assume that it will always be that way if it's that good of an idea and you have a hold on the market share. Some point people are going to be like wait a minute. They're gonNA wake up and be like oh we gotta do. Is You know you look at Netflix. Netflix is paying Disney And NBC and some of these other companies. A little bit to be able to have those shows on Netflix. So now they're looking like dead. Their stocks rose eighty five hundred eighty five hundred percent percent eight thousand five hundred percent yet whether I want some of that. Yup Well I guess the other thing too is I the reason why we put with is in. There is because it's like like you said like this is going to happen as a small business owner and I don't think I think the wrong I think to wrong reactions to to competition so I'll I'll start off with my own example. Is that when I moved to the city block them on in open a facility disability down there in downtown Boston five years ago when I first open I had four competitors today I have twelve. Which kind of tells you the state of number one the industry that a man number two tells you that there's no market research done uh-huh in some areas but then the other thing too is like it tells you that you know like there's going to be competition and you know you're competing for the same dollar if you think you're competing for the same dollar? You're you're mistaken you're competing for fifty cents and you had to. You GotTa just be careful if you want to compete for the whole dollar then you have to outperform everybody to get that dollar like significantly. You don't have to be a one stop shop but your value has to be tremendously high. You create value. We've talked about it a million a million times and we had a podcast the segment about creating value. How to do so? Go back and listen to that. I think is episode thirty three. Yeah and that's what they're going to have to do here. So what right. So that's the thing is like okay so that so so I was just giving you. The example of how market competition using my example can come into play. And I'm sure for you. I mean I I went went from four to twelve inches my block but for you. I'm sure even bigger than that. You're you're industry. Because you have comp- you have to deal with both companies and individuals

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