Innovation in Action: Noteworthy Information About Tesla and the Model S All Electric Luxury Car
- 2013 Motor Trend car of the year
- Achieves the best safety rating of any car ever tested
- The sales and service model is deal direct with Tesla. You can order online if you like.
Tesla's direct sales and service business model have many traditional car dealers in the United States in an uproar. The model challenges most everything about how they do business. Dealers are spending millions fighting the Tesla business model. It'll be hard to win the fight when customers can simply order their vehicle online; at a minimum we're talking about a $70,000 online transaction. What business person wouldn't want to do that kind of business? The traditional car dealers creating all the drama will eventually have to start thinking about how to leverage Tesla's business model. The train has left the station.
Innovations that bring great value to customers drive industry change. The challenge is to be proactive when you find yourself in the midst of change that you aren't driving. We'll have to wait and see how far-reaching the changes will be in the automotive industry. Much will depend on how traditional car dealerships retool their business practices.
You own how you choose to respond to change. You don't have to get caught up in the drama. You can choose to be proactive.
My tip: here are some questions to ask.
- Why is this change good for me, my business, my customers?
- What do I risk if I keep things the same and do nothing?
- What does this change enable me do that I have wanted to do, but couldn't?
- What can I do right now to strengthen my business?
- What can I stop doing that isn't adding value for my customers?
- What other changes are taking place in our culture, technology, politics? What can I do to capitalize on these changes?
Answer those questions. Decide on action items. Commit to supporting them. Make an action plan. Implement your action plan. Review your progress regularly and adjust your plan as necessary. Avoid the drama.
What innovations will be your calling card?
LIFT Your Thinking ... until next time.