The Quickflix story, highlighted to me very strongly the challenges that face many expanding businesses home grown in Australia.
While being the first to take on the streaming market and holding this “first to market” position in 2014, Quickflix is now facing voluntary administration, after having failed to secure investment in necessary content and marketing.
No doubt there were other factors and strategic decisions that played into this too and had been for a couple of years leading up to this outcome. Regardless, this deepened my insight into the high risk world of businesses wanting to act on opportunities that emerge from transformational market shifts.
The Quickflix story, also reminded me of the need to move one's brand from value operator, to value add and to value creation.
It would seem that this calls for a strong focus on both customer and competitor insight and foresight, while developing “peripheral vision” during this time.
This may serve business leaders well as they look to bridge the shift in market and this competitive environment.
The Quickflix story, highlights some of challenges that face many expanding businesses.
While being the first to take on the streaming market and holding this “first to market” position in 2014, is now facing voluntary administration, after having failed to secure investment in necessary content and marketing.
No doubt there were other factors and strategic decisions that played into this too. Regardless, this deepened my insight into the high risk world of businesses wanting to act on opportunities that emerge from transformational market shifts.
It would seem that focusing on both customer and competitor insight and foresight, while developing “peripheral vision” during this time, may serve business leaders well as they look to bridge the shift in market and this competitive environment.
