It never fails. Every industry has its’s sacred cows. Its wise old sages that have ‘been in the business’ and know what works and what doesn’t work. Similarly, it never fails that those wise men on the hill become insulated to change and do not see the problem.
One of my favorite movies is Money Ball. If you have never seen it stop right here. Go rent it or watch some of the clips on Youtube. The story of The 2002 Oakland A’s and their GM Billy Beane is quite well known. How a poor team with lack of funds defied Baseball logic to get to the Division Championship. It is a romantic story but the nuances of how clear-eyed focus on the Problem (competing in the MLB on a low budget) and using out of the box thinking based on logic and data resulted in a fantastic outcome.
For anyone who has ever been in the business brokerage industry the following scene reminds me of any number of industry meetings where “old pros” opine on what makes for success as a broker while ignoring the problem.
Business Brokerage is in a sea-change moment. The internet has begun to pull the covers off of the industry exposing the inefficiency and self-focused nature of the intermediary profession. Technology is providing information, speed, and a true marketplace where the brokers who fail to provide value and efficiency will go to the wayside. “Adapt or Die” is becoming a reality as the customer will move to that which is efficient and valuable.
So what’s the problem? We have an industry ripe for disruption….it has failed customers (both sellers and buyers) and now technology has arrived in all its glory. Adapt or Die folks.