What Changes Would You Go Up Down After Years Of Success?

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As a previous business owner, what changes would you have implemented, knowing that your business would shut down after years of success? Unfortunately, you go into business knowing there is a risk of unsuccessfully building a long-term organization, but there are a few things that I would have done differently! For example, I would have definitely worked on advertising my company and acquiring new accounts. Due to the fact, that at some point I settled and made a priority of my current customers, without thinking of the next "best thing". Additionally, I should have found stockholders willing to invest money into my organization, in order to franchise and build brand recognition. In class, we discussed that innovation is change that…show more content…
Yes, and you can probably tell I wasn 't very good at adapting! Nowadays, employees and family businesses are constantly being replaced by new technology, bigger corporations, cheaper labor, and so forth. However, we would ask our current customers to place our business cards in meetings or events, so that we could gain new customers and remain relevant in the minds of our existing contracts. Therefore, I would advise you to network and continue seeking attention from other companies, whether you adopt partnerships or create ads- never stop putting your name out there. In class, we discussed the importance of brainstorming and constantly coming up with new ideas to encourage innovation- did you use a specific process to come up with ideas? It is important to build a positive working environment that encourages employees to speak up and come up with good ideas to facilitate our current methods. Therefore, I believe that brainstorming should be a collective activity that benefits everyone, since my employees were the ones doing our intensive physical labor. Thus, I would talk with my employees about their shifts and monitor productivity, which gave me an opportunity to notice our deficiencies. Thus, allowing me to come up with new ideas and implement changes that would have gone unnoticed. What strategies did you use to create an innovative culture in your company, which encouraged creative ideas
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