6. Inbred Syndrome
Only hire from within and unwilling to bring outside folks with fresh eyes and fresh perspectives into the fold.
7. Reluctance to Take Risks
Playing it safe for a prolonged period of time can be detrimental. Most brand success stories have many instances of taking risks.
8. Refuse to Surround Themselves with and Retain the Best
Letting key players leave without creating opportunities for them to stay. Some of the best innovations from high profile brands come from key players that were acquired from another brand.
9. Unwillingness to Change
They simply want things to be the way that they used to be.
This could have been the #1 Reason Brands Fail – Unwilling to change, adapt, and stay ahead of the curve.
Share your thoughts on why brands fail. Add to the list.
