7 Ways to Transform Your Business Model
The old business methods won't work anymore. It's time to evolve.
For companies feeling their way through the worst recession since the 1930s, it's easiest to stay focused on next quarter's numbers, improving operations and lowering costs where possible. Just stick with the playbook and keep your head down, and things will be fine, right?
Wrong. This recession is different from other recessions in its scope and depth, and the worst thing you can do is more of the same. Staying the course with your current business model "might let you survive a little bit longer, but you're not going to create that competitive advantage necessary for the long term," says Scott Anthony, president of Innosight, an innovation consulting firm, and author of next month's new book The Silver Lining: An Innovation Playbook for Uncertain Times.
You've got to change your game. But how can you do it? Here are seven ways to be a game changer right now:
Continue reading this article - and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.
Entrepreneur Editors' Picks
-
These Co-Founders Are Using 'Quiet Confidence' to Flip the Script on Cutthroat Startup Culture and Make Their Mark on a $46 Billion Industry
-
My 7-Year-Old Daughter Started Selling Eggs. Here's What She Taught Me About Running a Startup.
-
Why You Need to Become an Inclusive Leader (and How to Do It)
-
Career Transitions You Can Make in Your 40s and 50s
-
Billionaire Naveen Jain Is an Expert at Disrupting Fields He Has No Experience In. His Secret Sauce for Building Multi-Million Dollar Companies? 'You Have to Come as Naive.'
-
4 Principles to Develop Next-Level Leadership at Your Company
-
This Filipino American Founder Is Disrupting the Beverage Aisle by Introducing New Flavors to the Crowded Bubbly Water Market