Sometimes you’ve just got to know when to quit doing the same old things…

Back in the 70’s Intel had 80% market share of the DRAM (dynamic random accessory memory) industry, and it accounted for 90% of their revenues.

But due to strong competition from the East (who would copy and undercut Intel’s new releases within months) this nosedived to just 1.4% market share by the early 80’s.

Finally, Andy Grove (then Intel’s President) walked into Gordon Moore’s (Chairman & CEO) office and asked:

“What would a new management team do, if they came in here and took our jobs?”

Moore responded with: “Get the hell out of the DRAM business!”

To which Grove said: “well, let’s go out of the revolving door, come back in and do it ourselves.”

The rest is history…

Although, if they’d left it any longer Intel probably wouldn’t be around today, let alone be the world’s No1 semiconductor (microprocessors) business.

It’s a great example of being blinkered in the belief that you must keep doing the same things, as it’s the core of the business, even when the core of the business is failing.

We went through this very situation when we operated retail shops selling only printer cartridges. Overtime super supermarkets and online shops eroded our business before our eyes.

And just like Intel, we buried our heads in the sand, but luckily, came up for air too and realised the gravity of the situation just in time to allow us to pivot.

Now providing office technology solutions (including printer cartridges) and supplies to homes, business, and schools in affordable payment schemes, delivered direct to doors fast and free.

The moral of the story?

…don’t bury your head in the sand. Watch the market and act quickly!