Aesop’s fables are simple yet so true. They’re not just for kids, managers can glean valuable lessons from them too. There’s even a book pairing these timeless tales with real business lessons!
Let me share one of the classics, “The Tortoise and Blockbuster” – oops, I meant “The tortoise and the Hare.” though Netflix wasn’t exactly “plodding,” you get the idea.
The Hare was once boasting of his speed before the other animals. “I have yet been beaten”, said he, “when I put forth my full speed. I challenge anyone here to race with me.” The Tortoise said quietly, “I accept your challenge.” “That’s a good joke,” said the Hare; “Icould dance round you all the way.” “Keep your boasting till you’ve beaten,” answered the Tortoise. “Shall we race?” So. course was fixed and a start was made. The Hare darted almost out of sight at once, but soon stopped and, to show his contempt for the Tortoise, lay down to have a nap. The Tortoise plodded on and plodded on, and when the Hare awoke from his nap, he saw the Tortoise just near the winning-post and could not run up in time to save the race. Then said the Tortoise: “Plodding wins the race.”
The moral of the story? Consistency and perseverance often beat overconfidence and complacency. It’s a lesson that’s just as relevant in business as on the playground. The mention of Netflix and Blockbuster serve as a modern-day parallel. Netflix’s journey wasn’t always steady, but its focus on innovation and customer experience kept it ahead of the curve. On the other hand, Blockbuster, despite its initial dominance, failed to innovate and adapt to changing market dynamics. Blockbuster deposited its trust in its strong network of franchisees and its strong-armed content contracts. Factors such as reliance on late fees, missed opportunities, customer dissatisfaction, and the limitations of its franchise model hindered its ability to recognize and respond to industry shifts, ultimately leading to its downfall. This serves as a reminder that in business, as in Aesop’s fables, adaptability and perseverance can outlast initial advantage.