I don’t care which you prefer: One of them went out of business. Ringling Bros. and Barnum & Bailey Circus closed up shop in 2017.
I’ve had a note to myself since then to write an article about it. Since I procrastinated, here’s a well-written one from the Detroit Free Press.
“As consumer preferences shifted, the circus stood still.” This is the haunting quote from the article.
Tradition comes from Latin that could be translated “give over.” Those who came before us handed over the DNA, the values and principles, that make us who we are. It’s true for civilizations, families and companies.
But innovation comes from the Latin for “new.” And as the market shifts, companies must shift as well.
“In a world of change, the learners shall inherit the earth, while the learned shall find themselves perfectly suited for a world that no longer exists.”
Eric HOffer
We stay true to who we are at the core. And we adapt to the circumstances around us. It requires humility to listen and learn–about ourselves (including tradition) and others (which may spur innovation).
“In a world of change,” Eric Hoffer said, “the learners shall inherit the earth, while the learned shall find themselves perfectly suited for a world that no longer exists.”
What is happening to your market that you need to learn more about?
Hold to your tradition. But innovate or die.
There is a happy post-script to this story:
Kenneth Feld (son of the Felds who bought the circus in the ’60s) announced last year that they are bringing the circus back.
Feld Entertainment is responsible for, among other things, the glorious, family friendly American extravaganza that is Monster Jam.
I can assure you, Feld knows how to do customer experience. I leave you with pictures of cute kids experiencing just that.
