Growing your business can mean a lot of things and one of those things is welcoming change. One common mistake that growing businesses do is being complacent. Stubbornly sticking to what previously worked and ignoring the fact that changes need to be made. With growth comes new challenges, learning new things, and of course, embracing change. Having a positive mindset will push you to keep going. However, assuming that you will continue to be successful in a new playing field just because you have been in the past is just being arrogant and completely unwise. Recognise the fact that you’re still growing as a business and there is a lot to learn. And the first thing to learn is to welcome change.
Learning to embrace change is not just a lesson for growing businesses or companies but also for established businesses. Think back a couple of decades and see which companies are still in the game. How did they manage to stay in the market? Now, think of the companies that were once dominant in their respective markets but are now being dwarfed by their competitors. Blackberry, Nokia, and Blockbuster are just some of the companies that took a massive dive. What happened? They were either resistant to change or took a long time to adjust to the changing market. So how important is embracing change to a growing business?
You might have a cool product or service that’s a massive hit with your customers but that will not always be the case. People’s tastes and preferences change over time and your business has to change with it. Sticking with what works does not always work. Always listen to feedback to get a feel for what your customers want to see in their products. Always have your finger on the pulse. Things can change quickly and if you’re not on top of it, you’ll find yourself lagging behind the competition.
Just like the business world, technology is always changing. Every entrepreneur worth their salt knows this and they know how to take advantage of it. In the process of growing your business, you will encounter challenges that you have never faced before. Time to embrace change by adopting new technology to overcome that challenge. Using a new piece of software or hardware might be intimidating at first but it will pay off big time. Yes, doing things the old way might have its advantages but in this digital-driven world, new tech can change the market overnight. Always keep an eye out for new emerging tech and never be afraid to try it out.
The World Changes
This is a lesson we learned the hard way. In just a span of a few months, the pandemic changed how the world works. As a growing business, you have to understand that there are things beyond your control and you just have to roll with the punches. Be ready to embrace change when this happens. It is a difficult period yet it is also a learning period. Open your mind to new possibilities and welcome them.