Law firms talk a lot about innovation but almost none of them ever do it or ever would.
If you want to innovate you have to be willing to put your existing business model at risk.
You also have to think outside the constraints of where you sit right now.
Yes there are risks but look at the list of innovations from Amazon over the last 12 years culminating in the acquisition of Whole Foods and you can see how they have grown as much as they have.
When Amazon announced last week that it will acquire Whole Foods Market, a grocery chain with over 450 retail stores and deep industry talent, for $13.7 billion, Amazon’s stock price rose 2.4% on the news, increasing its market capitalization by $11 billion. At the same time, the price of SuperValu plummeted 14.4%, Kroger dropped 9.2%, and Sprouts fell 6.3%. You could almost hear the three-year plans of every grocer, and nearly every other traditional retailer, grinding through the shredding machines.