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Reinvent for Growth January 31, 2011

Posted by trainingsolutionshlc in Uncategorized.
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Reinvent for Growth

 

As humans we are often resistant to change. I remember a company I once worked for that started in 1939 and the president of the company said this is the way we have done it and will do it.  You should have seen them when they had to switch to computers in the 80’s very scary.  I applaud them that they are now on social media and although they have adapted they have not grown.  Their revenue is about the same every year, allowing for inflation. They do have one advantage of having a specialized product and they see no reason to reinvent themselves.

 

What about you?  Do you have a product or service that will always have a customer base or are you like my clients and me and need to assess the market and look for ways to reinvent?

 

I ask my clients to continuously be aware of changes and trends noting what they need to do to be prepared for growth.   This does not mean getting rid of everything you are currently doing and venturing into some unknown territory.  It means carefully looking at what is and is not working; doing a SWOT and seeing what opportunities are available and make sense.

 

When I first started my business I was doing more training now I do more consulting.  I still do training but I needed to stay on top of what clients were asking for and seeing what other markets were available.  I kept my core but reinvented offerings.

 

Reinventing isn’t painful and can be exciting.  It takes thought and analysis as well as a willingness to change.  Take it in baby steps and try reinventing one aspect of your business

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