Business Resource Blog

Industry Evolution and “THE” Key to Success in Business

industry evolutionWhat if I told you I have the key to business success? If you’re like me, you just rolled your eyes, laughed out loud, or told me to f*** off! Let’s be real, I may have already lost some who are tired of hearing everyone ELSE’S secret to success. But, stick with me for a minute. I can tell you that the one key truth to success in business is to realize that you don’t know everything about building a successful business… I don’t… no one does. Instead, let’s have a conversation about what we’ve seen work… especially industry evolution!

In every long-term successful company that I have watched, I observe a willingness to change and evolve with the customer. On one hand, you have to have your core set of values and objectives that define who you are… your brand! As you update your ‘look’, change your tone, or even give your logo a facelift, who you are as a company needs to remain intact. But what you do and even how you do it needs to be available to flow with your customer needs. Supply and demand, right?

Just to drive the message home, let’s look at a brand that some of you may have heard of! If you haven’t, I’m surprised you stumbled across this little blog! Apple. When Apple released their first Apple Computer back in 1976, could anyone have imagined the innovative devices that you can walk into an Apple store and buy today? For example, raise your hand if you’re wearing an Apple Watch right now. Apple stayed true to their mission of creating innovative technology that paves a way in this industry. However, the product that they sell has evolved as society evolved. Instead of following industry evolution, they lead their industry evolution. Today, Apple provides must-have tech to an audience that they have trained to think ‘must have’ their devices!

So, what does this concept of evolution look like for your business? That’s where having a great creative brainstorming team helps. What does your audience know you for? Once you identify that, ask “Am I delivering that product or service in a relevant way?”. Many times, sales trends will give you the answer. If you are seeing a downturn in sales, this is a great starting point. If you’re really good, you’ll practice this exercise often so you can head off any major slump in sales and be ahead of the curve on your industry evolution.

Many of you reading this have been in business much longer than I have! Enjoyed, and even suffered through, years of leadership, entrepreneurship and business ownership. What would you share with a new business just getting up and running? What do you wish someone would have shared with you? Join our conversation on Facebook as we cheer on each other’s successes and grow together! 

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