After you’ve been burned a few times, you finally start to internalize the disclaimer that they always put on financial investments:

Past performance is no guarantee of future results.

We’d like to remove the element of risk from everything, but it’s inherent.  Sad, but true.

The same is true for your business as well, by the way.  Just because you did something a certain way – and perhaps even had spectacular results – that doesn’t mean it will continue to give you the same rewards in the future.

Things change.  Constantly.

And you might get hit by a truck tomorrow.

Now, before you just give up and throw something at this screen, let’s think about what to do in this situation.

If you’re going to figure out how to succeed in business, it’s good to start with some core principles.  What are the goals of your company?  What’s its character?  What is it known for?

Then, on top of that powerful foundation, make decisions based on:

  • How customer needs are actually shifting (as opposed to what you’d like them to be)
  • What’s changing with technology and best practices in your industry
  • What your most loyal and profitable customers would love from you

I’m not recommending that you constantly change your offerings – there’s very few businesses for which that’s a good strategy.  But you need to constantly be on the lookout, because the world changes.  Don’t get caught by surprise.

 

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