If you’ve studied business models, you’re probably familiar with the strategy of planned obsolescence.
It’s a strategy where you plan for products that you release today to automatically become outdated a few years down the road.
Planned obsolescence is how the software industry works. Every few years, software programs (and operating systems) get a face lift. Eventually, old versions of the software are no longer supported, which forces people to upgrade.
This isn’t necessarily a bad thing. Without planned obsolescence, I’d probably be stuck in the computing stone age. Plus, planned obsolescence forces innovation — which can be a very positive force.
Here’s an exercise worth doing:
Plan Your Own Obsolescence
Imagine that whatever you do today to generate money is no longer a viable option one year from now. What would you do to replace your income?
At any given time, and in any given industry, there are trends away from certain things and toward other things.
If your income is generated from an activity, product, or service that is in a downtrend, then you really need to be planning for your own obsolescence. Because it will happen whether you’re prepared or not.
Consider:
- The automobile brought about the demise of the railroad barons.
- The invention of fuel injection put carburetor mechanics out of work.
- Online journalism is putting traditional journalists out of work — and killing newspapers by the dozen.
And these are just a handful of obvious examples. There are thousands of subtle trends that are always shifting power (and money) from one area to another. Few people detect these trends until it’s too late.
Keep Your Eyes Open and Your Ear to the Ground
Always be watching the changes happening in your industry and in your area of expertise — both the big changes and the small ones. Sometimes small changes become big quickly (because of new legislation, policy changes, tipping points, etc.).
But most of all, plan for your own obsolescence. How can you maintain (or grow) your business if you’re forced to do something completely different than you’re doing today?
Even better, how can you maintain (or grow) your business without being directly involved in the day-to-day operations?
These are good questions to consider, especially in a day and age when there is so much change and uncertainty.
Here’s your assignment: Start planning for your own obsolescence. Begin making strategic changes now, while you have time and flexibility, instead of later, when you’ll be racing against the clock.
-Ryan M. Healy
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About Ryan M. Healy
Ryan Healy is a direct response copywriter. Since 2002, he has worked with scores of clients, including BoostCTR, Alex Mandossian, Terry Dean, and Pulte Homes. He writes a popular blog about copywriting, advertising, and business growth, has been featured in publications like Feed Front magazine, and is a regular contributor to WordStream.com, BoostCTR.com, and MarketingForSuccess.com.
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{ 2 comments }
It's very important to think about and plan for the future, not only in business but in all areas of life.
What can we do now to increase the likelihood of health and happiness in the future?
Surfed in. re: Obsolesence Good comments.
Now I see that not all Americans are stooopid :-)
Speaking globally, (from Montreal, Canada) we watch and worry about the current lakd of planning for its own obsolescence of all America. Obama and his courageous attempt to reform/extend health care are opposed by the likes the Newt Gingrich book of 'fair play' opponents.(Actual quotes, “How to DESTROY him {Obama]”). Really, how much longer
will it take for America to sink into second rate status?.
How can you let (the Republican base of health profiteers (insurance etc.) so successfully fights their essental long-term obsolescence?
We love Americans, but why also is an obsolete banking system, the essence of Wall street raping the man in the street (not so indirectly)?
What a downer, watching toilet bowl politics spiral America down the drain.
Consider your lawyer based economy, (the American way- someone ELSE is at fault, and blaming others, is a major source of your run-away health costs. “Better run and get “insurance” Did your society never hear of “no fault” insurance?
Hertz has only thousands of cars And some of them get “unhealthy” daily. Hertz does
not buy “insurance” to cover the accidents to its cars. Doing so would quickly increase its overall costs, as the accident rate remains about constant. It's too big.
But millions of plain folks all have health problems sooner or later also. Isn't the health of millions of Americans” similar? The costs should not be “insured” because of these inherent inefficiences alone, as well as the needless huge profits to the health sector. .
So why has USA not already obsolesced ALL its health insurance companies?
Why not, like Hertz- make its health a bearable expense again for the average American?
Most of the western world already has gov't health care for all.
Should you say, “hey, that's ok; we do the American way 'freedom of choice' here”.
If that's OK, just don't get old. Sorry, not an option.
Of course if your lives are spent, singing, dancing and making websites, to endlessly
generate more business, ultimately to re-inforce China, at your own industries expense
and siphon off ever an ever increasing percentage to 'health professional” and Wall Street,
and do all of that- on credit, while increasing daily the trillions of dollars the country is in debt.
Well, the rest of the world is waiting…… and watching.
Signed,
a stupid guy, in a country 10% the size of US, (that won the most
gold medals in the Olympics..
and with FREE health care, I remain
Yours truly
JD
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