Although a company may be cruising under certain market circumstances, that fit could change on a dime, leaving the company shell shocked and wondering what to do next.
Peak Genesis explains how to manage sudden changes in the market and be prepared for the inevitable kinks in the road.
In order to maintain market fit in a rapidly changing world, businesses need to have constant vigilance and adaptability, and sometimes, make painful changes. To keep their finger on the pulse, businesses need to check on their customers’ needs and changes, continuously innovate, and be ready to change direction at a moment's notice.
This goes for not only startups but also for established businesses. Keeping an entrepreneurial spirit allows businesses to stay hungry and innovative, help spot opportunities others miss, and foster a culture of continuous improvement.
And, don’t forget to seek out advice from mentors from diverse industries for fresh perspectives and create a mentorship culture within your own organization. Being ready for constant changes requires teamwork, inside or outside of your business.
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