I think this is an important question that every entrepreneur needs to ask of him/herself. I'm not talking about turning a dollar bill into coins.
You've probably noticed that everything related to Internet business changes quite rapidly. It's business at the speed of light, so to speak.
Your niche market changes and morphs over time as new innovations come on the scene and old traditions die out.
You targeted customers change. It is a rarity nowadays to keep the same customers as regular purchasers at your site for more than a couple of years.
Products certainly change. Many that are based on technology only last a few months or a year and then they're obsolete and nearly impossible to sell.
Internet services that crop up are changing all the time.
I've noticed many more application service providers online today than in the recent past. It seems that many business people like the thought of having others take care of their routine and special tasks.
Strategies for doing business also change. What worked last year or the year before may not produce the same kind of sales they once did.
People certainly change. The vendors, business partners, and subcontractors that you hired last year may not be around the next time you need their service.
You might be forced to get to know someone new that won't quite measure up to your old buddy Frank.
The business owner needs to be a good change agent. He needs to be the one to introduce and embrace change in his business.
If he doesn't, if he refuses to make changes, his business is going to be left behind with all the other obsolete and worthless relics from yesterday.
Every activity and strategy in your business should be subject to change and modification and revision. Even your business core USP or mission will most likely evolve to something different than what it started out to be.
If your business can't make a change, when change is needed, your market will treat you harshly and no longer pay attention to your adverting.
Your products will no longer be relevant and your wisdom and credibility will be questioned.
Listen to what management expert Peter Drucker says about change:
"All organizations need to know that virtually no program or activity will perform effectively for a long time without modification and redesign.
Eventually every activity becomes obsolete.
Among organizations that ignore this fact, the worst offender is government.
Indeed, the inability to stop doing anything is the central disease of government and a major reason why government today is sick.
Hospitals and universities are only a little better than government in getting rid of yesterday.
Businessmen are just as sentimental about yesterday as bureaucrats."
(from, Daily Drucker, p.6)
Change is inevitable and the businessman who works hard at becoming an astute change agent will have so much the advantage over his competitors that fail to recognize or take action as the niche and markets change.
