How can a business identify new growth opportunities during an inflection point?

Some examples of businesses that failed to anticipate an inflection point and faced decline include Blockbuster, Kodak, and Nokia. Blockbuster failed to anticipate the shift to online streaming services and declined as a result. Kodak, once a leader in the photography industry, failed to anticipate the digital photography revolution and faced a significant decline. Nokia, once a dominant player in the mobile phone industry, failed to anticipate the rise of smartphones and declined as a result.

A business can ensure it is prepared for the implications of an inflection point by closely monitoring industry trends and making strategic investments at different stages. During the hype stage, it's important to avoid getting caught up in the buzz and making rash investments. Instead, small exploratory investments should be made during the dismissal stage when viable business models begin to emerge. As the inflection point becomes more apparent during the emergence stage, deeper investments should be made to generate future options. Finally, during the maturity stage, the business should be prepared to take advantage of growth opportunities.

During the maturity stage, the implications of the inflection are clear. Organizations that are not prepared by now face decline. This is the stage to take advantage of growth opportunities. Some strategies could include deepening investments in successful areas, diversifying product or service offerings, or seeking strategic partnerships to expand market reach.