The Chronicle’s Business blog

Eastman Kodak made it. You could, too. When technology changes industries, businesses that adapt will thrive. Kodak erred in doing the same old thing and lost a fortune to digital cameras. You may not know this but Kodak brass filed a patent for one of the first digital cameras in 1977. But they made too much money on film to introduce it. Kodak continued its traditional ways even as the market was going digital. When it finally woke up, it was too late. Kodak couldn’t compete with digital camera makers who had been doing it for years. This was a repeat of the error of the buggy whip makers as Henry Ford and others were driving buggies out of business. Smart buggy makers put engines in their products and joined the trend. Those who didn’t adapt went out of business. You see this in the media today. Google, Facebook and other social media are gaining ad revenue steadily. This is costing magazines, newspapers, radio, outdoor and TV billions of dollars in lost revenue. It has hurt book publishers and book stores, too. Smart media people are joining, not ignoring or fighting technology. Printed books, magazines and newspapers aren’t going away. Yet publishing electronically will gain them more readers. For a complimentary digital copy of “Uncover Your Inner Sales Genius,” email JerryBellune@yahoo.com

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