What Netflix And Lego Can Teach You About Thriving Amidst Adversity

Key Takeaways:

– The old way of doing business is over and it is important to adapt to the current market challenges and prepare for future opportunities.
– The current industry is facing unprecedented challenges, but there are lessons to be learned from past industries that have faced similar situations.
– Examples of successful companies that have overcome adversity include Apple, Lego, Ford Motor Company, Delta Airlines, Netflix, and Nokia.
– These companies have demonstrated the power of strategic alliances, returning to core products, self-reliance, internal restructuring, adapting to technological changes, and acknowledging market shifts.
– Real estate agents can apply these lessons by embracing innovation, adapting to new market realities, and focusing on core strengths.
– Real estate agents have a role in building communities and should understand changing customer needs and be a part of a larger narrative of resilience and growth.
– Every crisis brings an opportunity for those willing to seize it.

inman:

Darryl Davis shares some of the hard-won lessons of the world’s most successful and resilient businesses. Put them to work in your professional life to meet the current moment.

Our industry is experiencing unprecedented challenges, echoing the tumultuous periods faced by various industries in the past that we can take lessons from. 

In this crazy time where uncertainty is so pervasive, it’s essential to draw inspiration from stories of resilience and innovation, understanding that adversity is not just a hurdle but a gateway to transformation and growth.

To help do that, let’s take a walk through some famous instances of corporate chaos to find inspiration for how we, too, can turn breakdowns into breakthroughs. 

Learning from giants: Lessons in resilience

Apple’s remarkable comeback

In 1997, Apple was on the brink of collapse after years of financial losses. The return of co-founder Steve Jobs and his strategic partnership with Microsoft marked the beginning of one of the most impressive innovation runs in consumer product history.

Apple’s resurgence teaches us the power of strategic alliances and the courage to reinvent in the face of adversity.

Lego’s creative rebuilding

Facing near bankruptcy in 2004, Lego’s return to its core products, coupled with partnerships with major movie franchises, brought the company back from the brink. The release of The Lego Movie further solidified its cultural impact.

This story underscores the importance of returning to one’s roots and finding innovative ways to connect with a broader audience.

Ford Motor Company’s strategic shift

During the 2008-2009 Great Recession, Ford, unlike its competitors, refused a government bailout and survived through a strategic overhaul known as “The One Ford Plan.” This plan focused on unifying operations and transforming product lines.

Ford’s story highlights the significance of self-reliance and the need for strategic transformation during crises.

Delta Airlines’ flight to success post-bankruptcy

After declaring bankruptcy in 2005, Delta Airlines restructured its operations, improving services and introducing employee profit-sharing. These strategic changes positioned Delta as a market leader, demonstrating the importance of internal restructuring and investment in employee welfare as a resilience strategy.

Netflix’s evolution from DVDs to streaming giant

Initially a DVD rental service, Netflix pivoted to a streaming model in the early 2000s, a move that revolutionized the entertainment industry. Netflix’s transformation illustrates the necessity of adapting to technological changes and market demands.

Nokia’s pivot to 5G technology

Once the leader in mobile phones, Nokia’s failure to keep up with smartphone innovations led to a dramatic market share drop. However, its recent focus on 5G technology and telecom solutions shows a promising future.

Nokia’s journey is a lesson in acknowledging market shifts and pivoting accordingly.

Real estate agents, it’s time to innovate and lead

These stories of resilience and innovation are not just tales of corporate giants; they are blueprints for any professional facing challenging times. 

As a real estate agent, you are at the face and the forefront of a rapidly changing industry. Embracing innovation, adapting to new market realities, and focusing on your core strengths can lead you through the current crisis to a future of success and growth.

A call to action

Your role in this industry is more than just listing and selling properties. You are helping to build communities. Your role is to understand changing customer needs and be a part of a larger narrative of resilience and growth.

Look beyond these crazy headlines, and focus on the value you bring to the table. Envision a future where your skills, adaptability and innovative spirit set you apart. Remember, every crisis brings an opportunity for those willing to seize it. 


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Property Chomp's Take:

In times of uncertainty and adversity, it's crucial to draw inspiration from stories of resilience and innovation. The current moment calls for a new way of doing business, and we can look to the world's most successful and resilient businesses for lessons on how to navigate these challenges and prepare for future opportunities.

One such business is Apple, which was on the brink of collapse in 1997. However, the return of co-founder Steve Jobs and a strategic partnership with Microsoft marked the beginning of an impressive innovation run. Apple's resurgence teaches us the power of strategic alliances and the courage to reinvent in the face of adversity.

Lego is another company that faced near bankruptcy in 2004 but managed to make a creative rebuilding. The company returned to its core products and formed partnerships with major movie franchises, such as The Lego Movie, which solidified its cultural impact. This story underscores the importance of returning to one's roots and finding innovative ways to connect with a broader audience.

During the Great Recession of 2008-2009, Ford Motor Company refused a government bailout and underwent a strategic shift known as "The One Ford Plan." By unifying operations and transforming product lines, Ford survived the crisis and thrived. This highlights the significance of self-reliance and the need for strategic transformation during crises.

Delta Airlines also faced bankruptcy in 2005 but managed to restructure its operations, improve services, and introduce employee profit-sharing. These strategic changes positioned Delta as a market leader, demonstrating the importance of internal restructuring and investment in employee welfare as a resilience strategy.

Netflix's evolution from a DVD rental service to a streaming giant showcases the necessity of adapting to technological changes and market demands. This move revolutionized the entertainment industry and serves as a reminder to embrace innovation and stay ahead of the curve.

Nokia, once a leader in mobile phones, experienced a dramatic market share drop due to its failure to keep up with smartphone innovations. However, the company's recent focus on 5G technology and telecom solutions shows a promising future. Nokia's journey is a lesson in acknowledging market shifts and pivoting accordingly.

These stories of resilience and innovation are not just tales of corporate giants; they are blueprints for professionals facing challenging times, including real estate agents. As a real estate agent, you are at the forefront of a rapidly changing industry. Embracing innovation, adapting to new market realities, and focusing on your core strengths can lead you through the current crisis to a future of success and growth.

Your role goes beyond listing and selling properties; you are helping to build communities. By understanding changing customer needs and being part of a larger narrative of resilience and growth, you can thrive in the face of adversity. Envision a future where your skills, adaptability, and innovative spirit set you apart. Remember, every crisis brings an opportunity for those willing to seize it.

In conclusion, the old way of doing business is over, and it's time to innovate and lead. Take inspiration from the lessons of resilience and innovation shared by the world's most successful and resilient businesses. Defy the market and bet big on your future. The current challenges are an opportunity for growth and transformation. Join the movement and conquer today's market challenges at Inman Connect New York.

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