Entrepreneur Plus - Short White
For Subscribers

How to Adapt Your Business for the Paradigm Shift To meet every challenge head-on, focus on your most important resource: your people.

By Ryan Waters

Opinions expressed by Entrepreneur contributors are their own.

Luis Alvarez | Getty Images

Did you feel it? It doesn't happen often. Did you recognize it? These are pretty rare. If you did, you're ahead of the curve. If you didn't, it might be too late.

What I'm referring to is a paradigm shift. It's something that can cause such a massive change to your business or industry that only those who detect it early enough and adapt will ultimately succeed. Those who don't, well, my condolences.

As a direct result of the health crisis, we may be living in the most significant Darwinian moment of our time. Unemployment rates peaked in April 2020 at 14.7 percent, and greater numbers of businesses are shutting down on a seemingly daily basis. There may be no more important and necessary time in our recent history to adapt. The survival of your business may depend on it.

This is a subscriber-only article. Join Entrepreneur+ today for access

Editor's Pick

Related Topics

Business News

'Bar Tab Was Almost 80%': Restaurant Slams Well-Known Columnist After He Goes Viral For Claiming His Meal Cost $78

A photo of a burger and fries from 1911 Smokehouse BBQ at Newark Airport went viral for its alleged price, but the restaurant says the man didn't factor in his many alcoholic drinks.

Business News

Opening a New McDonald's Franchise Will Be More Expensive in 2024

Starting January 1, franchise royalty fees will rise from 4% to 5% for new locations in the U.S. and Canada.

Business News

Here's the Secret to Growing Your Small Business, According to Execs at UPS, Airbnb, Mastercard, and Other Big Brands

These 10 executives work at big companies, overseeing programs that help small business. Here's the advice they wish all small business owners were getting.

Business News

Is Your Relationship With Your Work at a Breaking Point? You're Not Alone, Survey Finds

In a new survey by HP, 83% of unhappy workers said they are willing to earn less to be happier at their job.

Money & Finance

Tens of Thousands of Americans Could Be Billionaires Right Now If Their Wealthy Families Didn't Make This All-Too-Common Financial Mistake

Victor Haghani and James White's book 'Missing Billionaires: A Guide to Better Financial Decisions' unpacks what went wrong for the U.S.'s once-richest families.