Having been in business since Godís dog was a puppy, I can remember loads of brands and companies that used to seem to rule the world, but that have now disappeared.
And the more time goes by, the faster this change seems to get. Even some of the market leaders 10 years ago are no more, or at least have lost a lot of their strength.
Part of the reason for this is natural progress, things go out of fashion and companies fail to adapt, and part - it has to be said - is that companies get complacent, and before they know whatís happened a competitor has sneaked up behind them and raced ahead of them.
Add the effect of the internet into this - a way to market that was totally unimaginable not that long ago - and you have a very dynamic (and sometimes frightening) business environment these days. Stand still, and youíll get run down.
And a lot of this change is unavoidable, now matter how adaptable you are and how hard you try. Many previously solid business are now finding that what they used to do extremely well simply doesnít work any more.
The answer to this? Yes, be as adaptable as you can, that may help take care of the future, but more importantly, make hay while you can. If you have a strong market position, then you need to bite the bullet and do something about improving your prices. Costs are rising all around us, PLEASE donít make the mistake of absorbing them, you need to find ways of passing them on.
And even if you donít have a strong market position, in some ways increasing your prices is easier, you wonít be as visible as the big boys, you can sneak under the radar.
Will it be easy? Absolutely not. Will you need some help? Probably.
Will it be worth doing? Absolutely, I 100% guarantee it!
Remember, there is absolutely NOTHING that you can do that has as magical an effect on your bottom line as getting a price increase through and making it stick.
You may need a bit of help from us, but you DO have the power and the opportunity to do this. As the man said, use it or lose it.