BlackBerry was one of the most prominent tech companies until Apple and Samsung changed the landscape and sparked innovations faster than BlackBerry could catch up. Other phone companies realized early on that the future of mobile gadgets is touch-screen, and they managed to adjust. However, BlackBerry was late to the party and had no choice but to accept defeat.
Anyone who has a business should learn this lesson: if you’re not willing to innovate, you will lose.
Everything Changes
It’s not just an exaggerated sentiment; it is a fact that change is the only thing constant. This is apparent in the way consumers demand more from the products and services they use. The stiff competition in the market further adds to the need for innovation. If several brands offer the same products and they’re of the same quality, the one who comes up with new bells and whistles gets ahead.
This isn’t just important to attract customers. Even your employees long for change, and the company’s complacency will not improve turnover. What will improve the workplace environment are noticeable changes such as your decision to purchase desk systems and to deck the hall with fun decor. Yes, you read that right. Gone are the days of keeping the office sterile and boring; now, younger employees want them to be interactive and fun, and if you don’t make these changes, you might lose your workforce.
Learning to be Fluid
When it comes to businesses, it’s harder to hold your ground than go with the flow, yet old and established companies still feel like this is the call they want to make. The result is their products look obsolete in a time where multitasking is the new norm. Now, even the most basic product should also look good, particularly for the standards of millennials who are willing to spend money on the latest trends.
For a business to thrive, its head should not be buried in the sand. It’s also better if those executives are composed of a diverse group of people. Younger employees have different views compared to older employees, but both of them should be represented to keep the balance in the workplace. This is where changes should start. Age should not be a limiting factor to someone’s promotion, and departments should have a good mix of employees to allow for creative and innovative ideas. Your employees are your best assets, but if you don’t put them to good use, your company will remain in mediocrity.
Understanding Trends
You don’t have to change everything about your business to stay afloat. It’s essential to keep the core values of your company even as you make small changes that will target the right customers. You can design new products without losing the quality customers expect from you. You can come up with millennial-friendly items without losing your older clients. And most importantly, you can look at trends and find details that will remain relevant even after the trend has died.
The ability to change is one thing your company needs to hone and practice. This is how you avoid complacency.
