Sometimes we to the conclusion of limiting the possible alternatives.
In business, there are “substitutes”. We have competitors, products and services from others that are similar to ours. But substitutes are different. Substitutes are not similar at all, but the benefits obtained are. We regularly don’t put them in the same category, and the tend to be ignored as an alternative.
And to some extent, we are right in doing so. When someone is not set with the specific category, they are probably not willing to pay the higher price it may come with.
If you are shopping for a Laptop, you have plenty of choices. But in some scenarios, a tablet may be a good substitute. If you are price-sensitive and don’t need to type a lot, you’ll probably go with a less expensive tablet.
And yet there is another option. And is the path of absolute least resistance. It is to do nothing.
In business, as in life, this is the option we take the most. It keeps us moving in the same direction we are going, it is familiar, does not require effort to make any changes. Heck, it doesn’t even require a decision.
Yet consistency is something that we praise, even though it is the result of changing nothing.
Are holding on for virtue or just because it is the easiest?