Monday, May 16, 2011

Morphing Your Business

To keep your business healthy and successful (and growing), keeping track of trends is imperative.

Now, this isn't to say you have to always follow the latest and greatest "thing" out there, but you should change your business over time to ensure its success. There are few businesses that are around today that were 50 years ago that didn't change. For example:
  • General Electric started out as an electric-light company and has since changed into a multi-national consulting and multi-faceted business offering everything from financing to manufactured products.
  • Hewlett-Packard was once a provider of calculators and technology, now sells PC, printers and offers business consulting.
  • Microsoft once was just a provider of software, now they are a leading competitor in the on-line services world.
  • Apple was once Apple Computer and produced computers; now they are a multi-media provider of music, MP3 players as well as computers and products to integrate technology into our everyday lives.
  • Nike started out as the maker of waffle-soled running shoes; they are now the provider of everything from golf clubs and equipment to hockey, running and other sports gear.
The trick is to see things just ahead and flex as your markets either change or new ones surface.

The American Receivable Team

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