Maybe you can blame this on my mind being a little scattered
now that tax season is over. I, however,
will frame it as my mind is more open.
Either way, here is a little take on three news stories I
saw earlier this week that I thought had lessons in them that were worth
passing along.
First off, Pizza Hut’s original pan pizza is being remade.
Whether or not there is then any value left then in the “original” moniker can
be debated, but if the goal is to make a better product, that can’t be too bad,
can it?
Beyond that, this
CNN article was actually more interesting than I thought it would be,
describing how Domino’s, Papa John’s, and Pizza Hut are in a tug-of-war competition
to stay relevant, have new offerings, and embrace new technologies.
On the surface, it may seem like this is too much work for
the companies. I mean those are three names that everyone knows, and everyone
knows what they offer. It does, however, go to show that even when you reach a
high level of success you cannot just rest on your laurels.
There is value in having a traditional offering. There can
be greater value in realizing when your traditional offering needs to evolve if
you want to continue holding your position (remember Kodak?). Be great at what
you do - and we don’t have to get into a discussion here about what makes
“great” pizza, these companies are still great at what they do - but also do
not remain stuck in your ways. Only then can your famous name carry on.
***
Speaking of iconic names …
The brand and intellectual property of Sports Illustrated
was sold recently for $110 million to Authentic Brands Group. That sentence has
to be framed like that because Meredith Corporation, the former owner, will
continue to publish the magazine and website under the Sports Illustrated name.
What this means is that Sports Illustrated brand is worth more than the magazine
that began the brand.
Names can stand for something beyond your current work, so
be sure you’re standing for the right things.
***
And speaking of standing for something …
MacKenzie Bezos joined the rank of the world’s wealthiest
people following her divorce from Amazon founder Jeff Bezos. She recently committed to giving at least half
of her estimated $36.6 billion worth to charity.
Do you read stories like that and think about how nice it
would be to have that amount of money with which to do good? Then I urge you to
still do what you can with what you have. When it comes to how you spend your
money, there is value in the feeling you get from helping others that can
outweigh the pleasure of purchasing goods.
With changes from the Tax Cuts and Jobs Act, making
charitable donations became less of a tax issue for many, so I wanted to take
the chance to close this week with that reminder that it’s still worth doing.
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