This week HP had their “Power of Print” event, and I was reminded of what makes HP, the company that was designed to fail, so successful.

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Every company that has been around for a long time will face industry changes where it has a hard choice. Most often than not, when it looks like the industry is moving away from where the company is, the right choice is seeing the trend and then starting to migrate to an industry where there is growth and away from the industry dropping into decline. The exception to this rule is when you are a significant player, dominant in the segment, or can find a way, if you are smaller, to focus and differentiate on the part of the market that sustains.

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Let’s take horseback riding, for example. It once was the predominant way to get around in the U.S. It’s been a hundred years since that was the case, yet you can still make money selling saddles and horse gear for those that compete or ride recreationally; it required a shift to focus on recreational or competitive riders. It is a similar situation for smaller firms looking to sustain and maybe increase […]

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