When the founders of Basecamp told their only investor, Jeff Bezos, they wanted to be in business for the long term, he gave them some interesting Bezos wisdom.
“The secret to that is to focus on the things that don’t change in your buisiness.”
He gave the example that 20 years from now, people on Amazon would want more selection, not less. People would want faster and faster shipping, not slower. He didn’t find it conveivable that customers would love Amazon in the future but wish shipping was just a bit slower.
“So people today want fast shipping. And they’re going to want faster and faster shipping in 10 years… so that’s going to matter today and tomorrow.”
What items in your business won’t change in the future? Will your customers always want to chat with someone on the phone? Always want someone local they can see and talk to? Easy returns? Today, more than ever, businesses have to shift the focus from constantly dropping their prices and move towards doubling down on what the customers like.