But initially change management was a bit bumpy for Netflix too customers were upset when Netflix announced it would charge separate fees for digital streaming and DVDs and 00000 of them left the service by the end of 0. In just four months Netflix's stock plummeted . But despite this initial turbulence Netflix's leadership stuck to its chosen path. The management pulled together did not allow itself to be dissuaded from its goals and continued to put resources into digital streaming and its own programs. In 0 Netflix already had more subscribers than cable TV providers in the US .
We can learn this for change management Changes rarely run smoothly and as with most projects it often takes much longer than originally expected before real progress becomes apparent. That's why it's so important to stay the course and trust your plans—assuming you already have a solid plan in place of course . Netflix Specific Database CEO Reed Hastings knew that DVDs were slowly but surely dying out and his company had to rethink and adapt to the digital future in order to survive. In February 00 he told Bloomberg We have one goal to be successful in streaming.
If we can do that we've already won. Just like Hastings and Netflix small businesses need to do their own research future-proof their business and think through their plan. It might mean moving from a physical to a digital product or it might just mean investing in new smartphones for your own distributors. The most important thing is Never give up just because there is resistance or regression at the beginning. . Apple continues to evolve and stay true to its original vision apple Apple Think different. source Before the change It's almost forgotten today that Apple originally known for products other than the iPhone and MacBook struggled to survive in the late 0s.