On April 4, 1964 the Beatles made history by having all of the top five songs: # 1 “Can’t Buy Me Love”, #2 , “Twist and Shout”, # 3 “She Loves You”, #4 “I Want to Hold Your Hand”, No. 5, “Please Please Me”. Yet, with this unprecedented success, the Beatles completely reinvented themselves in what might be called one of the most profound examples of creative destruction. The result: 3 years later in 1967 the Beatles created a higher ceiling reinventing rock n’ roll forever with a new concept of album and of music itself in what is broadly considered the greatest rock album of all time — Sgt. Pepper’s.
The model of creative destruction has been utilized by many companies including Netflix who jettisoned their winning mailbox strategy for streaming. The lesson is clear — great companies shouldn’t be afraid to transform themselves into new levels of greatness.