I bought an electric car. I’m not alone, they’re all over Los Angeles.
And why not? No pollution, no tune-ups and it’s liberating to flip off gas stations. But going electric requires courage, a leap of faith. Are electric cars really the future? Should you consider a hybrid? When should you switch?
Welcome to ‘curve jumping’, a phenomenon that affects every industry when new technology storms in with a better solution.
If you recall, Amazon started as an online bookseller. As Jeff Bezos gained momentum, Barnes & Noble stuck with their superstores. By the time B&N embraced e-commerce, it was mortally wounded. They jumped too late too late, lost their advantage, and growth has been flat since 2011.
The term curve jumping was popularized by Guy Kawasaki, best known as Steve Jobs’ Chief Evangelist at Apple. He advises, “Curve jumping is not about improving by 10%. It’s about doing it 10 times better”.
Electric cars will overtake gas-fueled vehicles. It’s happening. So now, automakers must innovate or risk becoming obsolete. And competition will be fierce. China, which sells more EVs than the rest of the world combined, will soon crack the American market. Their Pickman EV, will sell for just $9,000.
Here’s my take: Embrace change, even if it upends your business model. Easier said than done. So, I asked Kawasaki, when is the time is right to curve jump? He replied, “Every industry is different. But the time to jump curves is when you’re successful enough that competition may arise, minus one year.”
And if you’re looking for a clean Ford Pinto, give me a call.
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