Posted on : 12-10-2011 | By : Frank Eliason | In : Brands, Business, Leadership
Tags: Barnes & Noble, You've Got Mail
‘You’ve Got Mail,’ a term we all loved to hear in the mid 90′s but when was the last time you heard it? Actually for me it was about a month or two ago. Do you remember the Tom Hank’s, Meg Ryan movie of the same name? Yes, I watched it. That movie started me thinking about the evolution of business. Although AOL still exists it is a vastly different, smaller company today. Last week I received an email from Barnes & Noble regarding their purchase of the Customer list from Borders. Here is an image of the email:
I loved the human tone of the email, particularly this quote from Barnes & Noble CEO, William Lynch:
“First of all let me say Barnes & Noble uniquely appreciates the importance bookstores play within local communities, and we’re very sorry your Borders store closed.”
This brings me back to the movie ‘You’ve Got Mail.’ If you remember the movie, the character played by Meg Ryan owned a small book shop called ‘The Shop Around the Corner.” Tom Hank’s character, along with his family, controlled the Fox Book Superstore, moving in around the corner. Fox Books would remind you of any Barnes and Noble or Borders location. It was very open, featuring a wide range of books, other media, and, of course, the all important coffee bar. Although the two characters fell in love, ‘The Shop Around the Corner’ does go out of business. The model changed and the little shop was not able to change with the times. Now today we see the model changing again. First Amazon made a strong competitor with their internet book business. They further pushed the model with the introduction of the well loved Kindle. The iPad and Apple furthered this evolution, as did Google and their Android devices.
Business models are changing all the time, and the most nimble businesses can bring success to this. ‘The Shop Around the Corner’ and Borders may not have been able to make it, but companies like Barnes and Noble are trying. Amazon has proven to be a disrupter to the typical business model. How nimble is your business? Do you see change before it is too late?
It is interesting, when taken into context of yesterday’s Netflix post. Evolution is imperative but timing can be very difficult.