Too Many Options?

Having options is a luxury of the world that we live in today. But that same luxury can be a curse if we choose to ignore the ever-changing landscape of so many industries in which we are consumers. Complacency and the unwillingness to acknowledge the utility of alternative offerings can be a competitive disadvantage.

Just because we have more choice doesn’t mean we have to limit our selection to just one solution. Access to more offerings may sometimes mean a bit more work for us as consumers, but it allows us to select the right products and services to deliver the best outcomes, at the right time. This can apply at both personal and business levels.

Let’s take the hospitality industry for example. Air bnb has changed the way that people travel, but there is still a time and place for a hotel. If I’m on a short trip with a busy itinerary, I’m more likely to stay at a brand name hotel that I believe will deliver the service and amenities I know I’ll need to ensure a smooth trip. On the flip side, hotels have become less practical for long term stays when Air bnb offers a more accessible per-night price point and living spaces that allow visitors to get settled and feel at home.

A similar dynamic exists in the legal industry. Big law firms are machines that can deliver almost any legal work in any timeframe a client needs it. But access to the machine comes at a cost. Why pay top dollars for work that isn’t as urgent? Alternative models can offer high quality legal work at a more modest price point.

It is rare to find a solution or service provider that can be all things to all people. And if they’re claiming to be, they’re probably spread too thin. As consumers, the more we embrace the range of fantastic options available to us, the better positioned we’ll be to make the best decision within the context of each unique situation.

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