What do Blockbuster Video, Borders Books and Eastman Kodak have in common? All three companies were at one point in time industry leaders and known throughout the world for products used in almost every household. So, what happened to these corporate powerhouses? Innovation is what happened, or lack thereof to be more precise. As their competitors grew and adapted to new technology, Blockbuster, Borders and Kodak sat on the sideline watching until it was too late, which in turn lead to their downfall.
By definition, innovation means “the act or process of introducing new ideas, devices, or methods.” Modern businesses are driven by innovation; it provides solutions to current problems and sets up the path for future success. In a fast paced industry such as Court Reporting, embracing innovation and technology is an essential part of being successful.
Court Reporting is a service-based profession. Instead of a physical, tangible object, the product being sold is a unique set of skills and expertise, and as with any service-based industry, catering to the needs of your clients and ensuring their satisfaction is your number one goal. As everything around us changes and evolves, the demands of your clients will change as well; this is where staying on the forefront of innovation is so imperative.
Think about court reporting 50 years ago, 10 years ago, or even 5 years ago. The technology used to take down and deliver the spoken word has drastically changed. Technology has provided society with a means for instant results; legal professionals are no exception. With smartphones glued to their hips and tablets always at arm’s reach, the 21st century attorney is more tech-savvy than ever before. They want quick, cutting-edge services that will help them increase productivity, adhere to their on-the-go lifestyles, and give them a competitive advantage. It is your job as a court reporter or a court reporting agency to make sure the services you offer your clients adhere to these new standards.
Innovation is about effectiveness, efficiency and an improved way of doing things. By offering cutting-edge, innovative solutions that take advantage of the latest technology trends, your clients will be willing to pay more just for the convenience, and are less likely to leave you for a cheaper, less exciting competitor.
The court reporting industry, unlike Blockbuster, Borders, and Kodak, who refused to embrace innovation and adapt to change, continues to recognize the importance of innovation and the role it plays in a successful future. It is because of this that the industry has seen tremendous growth over the last decade and will continue to prosper for years to come.