Planned obsolescence is a business strategy that will set any business for failure

Planned obsolescence is a business strategy in which the obsolescence (the process of becoming obsolete, that is, unfashionable or no longer usable) of a product is planned and built into it from its conception. Having been in the restaurant industry for over 15 years and being as passionate as I am, I understand hospitality better than most. My extensive education and reading allows me to understand what it takes to build a business that can last.

With that I can easily spot a restaurant that won't last very long. Remember the proverb? "Where there is no vision the people perish".

YES this is very true. A greedy business owner, who only thinks about himself and doesn't give a damn about his employees and customers, who is blinded and "obnibulé" by his  idea of wanting to make as much profit as possible does not plan for long-term success. During his short years in business he will think to maximize his profit to the expense of employees and customers. But any person that wants to reap a much bigger reward will have to think outside the box, and not just about himself.

A selfish business owner does not have a vision he can share with his employees to sustain the growing competition. Thus the "Planned obsolescence" is applicable to any business owner who is just driven by profit, and has no vision because all he does is contribute to himself and nobody else. You can't go very far in business when you only think about yourself.

A great example is the real estate industry. Agents and loan officers were just thinking about themselves when they sold homes that appreciated at 15% per year in Southern CA, and loan officers were reaping high commissions by selling bad loans to home buyers. Most of those sales people reaped huge commissions during a few years but are out of business or struggling today. They also lost all those customers who will never do business with them again.

So if you want to reap a much bigger reward in life it is much better to think outside the box and plan to contribute to the lives of others. You should have a vision not for yourself, but also for others so they can relate to you.

Planned obsolescence is a business strategy that will result in having a business with a short life span because has there is no vision for anyone.