Last year I wrote about a local small florist that had recently failed in A Small Business Owner’s Worst Nightmare and I thought about this today because it was the first time in many years that I wasn’t able to buy flowers for my wife for Valentine’s day at his now closed store. I really didn’t consider very much the reasons his business failed in the last post since I don’t know how well run his business was, but I thought I might get an idea about the reasons he might have failed after I read Lessons in Management Innovation from Main Street.
The main thing that struck me about this article was all the very successful businesses described in it thrive on change, to quote the article.
“They live in a world where agility is survival. They understand, experiment, learn and iterate. They know to seize upon what works and build it out while the building is good.”
I’ll never know the reasons that my favorite florist shop failed, but I suspect that a large part of it was so much competition from the large grocery store chains who sell flowers. I mean who would have thought of a small florist ship in a grocery store 30 years ago? The owner of the store stated that he had built his business on a quality product, which is very important, but he was in business for almost 50 years and I just wonder if he wasn’t able to make the changes needed in a very different business environment.