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:
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