Reinventing Kodak?

It’s a bad day if you are in the “film” business.

Martha C. White reported on MSNBC.com, “Eastman Kodak appears to be staying clear of bankruptcy proceedings for now, but time is clearly running out for the 130-year old industrial icon to reinvent itself for a digital century.” The article is titled: “Kodak struggles to reinvent itself for digital age.”

Kodak did a pretty good job of meeting the challenge of Fuji Film twenty years ago. But on the day that Apple introduced the new iPhone 4S with an improved camera, Kodak announced it is reinventing itself.

Good idea… Most people use their phone for pictures or print their photos on a personal printer, or a convenience store station.  Almost no one goes to the store to buy “film” anymore. Those that do, don’t bring in enough profit to keep business (and film on shelves) going long.

The film business has become a dinosaur. Kodak, wisely, but maybe too late, realizes this and knows what to do. Bury the dinosaur and reinvent yourself before you get buried with it (Their are numerous rumors according to White’s article that the film giant is about to declare bankruptcy).

What are you doing that has become a dinosaur in your industry or community? What do you need to do with it?

Jim Mathis is an international speaking professional, coach and best selling author of Reinvention Made Easy: Change Your Strategy, Change Your Results.  You may receive his monthly free e-zine with articles like this by sending a SUBSCRIBE message to subscribe@jimmathis.com.

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