Whoops where did they go?
What have Clintons Cards, Comet, Jessups, HMV and Blockbuster all got in common? These were shops with their plans firmly fixed in 1983 not 2013!
Some commentators have said that they didn’t embrace the internet and failed to gauge shopping trends correctly now that there is an increase in on-line spending on a range of goods from big ticket electrical items through to the usual stuffed through the post clothes, books, cds and dvds and more specialist delivery items such a food and certain white goods. Once upon a time the only home delivery item was flowers from the interflora florist who came round in a little van on special occasions. Unfortunately that is not the whole picture. Even when companies have a substantial web presence they can still disappear only it can take a while for anyone to notice. Losing a big high street store can be a bit like losing a front tooth – it really notices!
I see the real problem as more of management one most of those who go out of business do so because the planning is either nonexistent or painfully short term. A good business plan is a flexible and living document that adapts to the changing times but always has an eye on the future is should support and advise the decision making process and be there on those cold dark nights when things are going so badly wrong that all you want to do is get a proper job.