Innovate or Die: Lessons From BlockBuster Applied to powerOne

If you missed it the king’s of the movie rental business, Blockbuster, is being delisted from the New York Stock Exchange. I guess the news wasn’t totally surprising. After all Oregon’s very own Hollywood Video, bought by a Texas company called Movie Gallery, went bankrupt a few months ago. And every little movie rental place in the area is gone, opening up what I am sure is tens of thousands of retail square feet nationwide.

15 years ago there were few choices. If you wanted to watch a movie without interruption you were stuck with premium cable channels, buy it at a store, a movie theater and places like Blockbuster.

Now I have these choices plus so many more. I can watch instantly on Netflix, download one from various sharing sites via BitTorrent, and rent one from Redbox or Netflix. A decade ago it costs me $4 to rent a movie. Now I can get one at Redbox for $1.

And so it goes. Yesterdays killer company becomes today’s roadkill.

So let that be a lesson for all of us. Stay up-to-date. Adjust to the competition. Don’t bite off more then you can chew.

Even focused solely on developing killer calculators for the iOS platform, it is more than a full-time job. Over the past few months all we have done is kept up with Apple, developing powerOne for iPad, re-developing for iPad and, approved by Apple last night, now ensuring iOS 4 and iPhone 4 compatibility.

But it isn’t enough to keep up. Our next step is to leave them all in dust. And so we begin to develop powerOne version 2. I can’t wait!