KEENAN BEASLEY / FORBES / Sept 26,2017
As an entrepreneur, your work is never done. No matter how much growth your business has achieved—no matter how many rounds of funding you’ve secured—the job of a business owner is to find ways for the growth to continue. Because if you’re not growing, you’re dying.
That truth became crystal clear this week, when Toys “R” Us filed for Chapter 11 bankruptcy protection. The internet fell into a tailspin of nostalgia and regret, placing the blame squarely on Amazon. And as much as Amazon has stolen a portion of the toy market share, Toys “R” Us can’t blame its demise on another business’s success. (After all, according to a report by Goldman Sachs, only 16 percent of toys are purchased online anyway.) Toys “R” Us isn’t a victim of Amazon.com. It’s a victim of it’s own refusal to evolve.