It doesn’t require a helmet or a weapon, but Rick Funston says business is war.
Competitors are constantly and aggressively battling, fighting tooth and nail for market share and customers and a spot at the top of the food chain.
But life on top is fleeting. Funston says the average lifespan of a Fortune 500 company today is just 15 years. Business changes fast, and no matter what you do, your business is always at risk.
Speaking Tuesday at Heavy Duty Aftermarket Week (HDAW) in Las Vegas, Funston told a room of distributors that their industry is not only at war, but also zeroing in on an inevitable change.
And in such an aggressive business marketplace, Funston says distributors who don’t (or refuse) to adapt are putting nails in their own coffin.
“The forces of creative destruction are always at work,” he says. “Sooner or later every industry-leading business model will change.
“How will you adapt? What can you do?”
