Keep it fresh, to keep it profitable
Keep it fresh, to keep it profitable
People don’t grow old with age, they only grow old when they don’t have refreshing ideas anymore. When they are so set in their ways that they can’t accept a new way of thinking.
Do that in your business long enough and a younger, fresher organization will take over.
Everyone needs to change and develop a new attitude with the changing times.
I remember reading a long time ago that Warren Buffet refuses to invest in Apple. “I don’t understand their business, and what I don’t understand I cannot invest in.” He said.
He was a big fan of IBM then but IBM got old. It stopped having refreshing ideas and eventually, they were overtaken by Google and IBM.
Now of course Buffet invests in Apple. He’s actually a strong supporter of Apple and totally believes in the brand. He doesn’t believe in Elon Musk yet and he’s not investing in Tesla.
Eventually, he will come around.
Well, I am not making a point about investments here. I am making a point about business. If you keep having great new ideas you will keep growing or eventually someone will come along with a new idea and beat you.
This is true for you no matter what your scale is and what your business is. You need to keep tabs on the new things in the market and experiment with a few of them.
Always be looking for new concepts and ways to do things. Be in the places where people with fresh ideas hang out. Right now that’s Reddit or Discord for example. Join communities that are relevant and spend time in them.
You will come across many new ideas and eventually, you will find some that stick.
You will play around with a few and then find a couple that will scale. Maybe one will even turn into a new product or even a business.
It keeps happening to me all the time. New product ideas that I just get from reading forums.
Of course, this is what I am doing today. You could be doing something different and yet a totally valid thing.
Want to tell me about it? I am all ears.
What’s your way of finding new ideas, strategies, or systems? Who do you talk to? Where do you go?
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