Yesterday I attended the “Success Summit” luncheon, led by Sandra Yancey, e-Women Network founder. E-Women is a women’s group, created to facilitate networking and build relationships among women business owners.
Yancey talked about the changes she made to her business in 2010. The most surprising thing to me was when she admitted during her talk that she almost waited too long to make the changes she needed to make in her business. This was very eye-opening for me – to hear someone of Yancey’s caliber admit that she resisted changing the status quo! She continued; “when the economy changed (in 2008), she sat on her laurels and didn’t want to change her business. She wanted to wait until things went back to the way they used to be.”
Wow! That is quite an admission, especially knowing what we know now – that the economy fundamentally changed forever as a result of what happened at that time.
That tells me that you must always be innovating. This is so important! So when is it time to innovate? When things change, die, or stagnate. Innovation is critical to the success of a business owner. Businesses that don’t innovate or adopt new policies or technology grow stagnant and don’t survive.
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