In today’s fast-paced world, sticking to “the way we’ve always done things” is a surefire path to decline.

This mindset signals a reluctance to innovate. It’s time to change that thinking and embrace the need for continuous improvement.

That’s why TurboExecs has made innovation Number 4 on our List of Guiding Principles.
 

Lessons from the Past

 
Remember those ‘90s and early 2000s favorites, Blockbuster and Toys “R” Us?

Blockbuster: In the ’90s, Blockbuster was the go-to place for movie and video game rentals, providing easy access to popular entertainment. However, as technology advanced, streaming and online gaming became the norm. Blockbuster failed to adapt, ultimately leading to its demise.

Toys “R” Us: Toys “R” Us believed the in-store experience was key to driving toy sales. This was true for a while, but as online shopping became more convenient, they lost market share. Toys “R” Us couldn’t keep up with the shift to online sales and eventually went bankrupt.

These are extreme examples, but they illustrate a common thread: failure to innovate leads to failure in business.
 

3 Takeaways for Your Business

 

  1. Avoid Complacency: Continuing to “do things the way we always have” is a recipe for decline. It’s time to change that mindset and embrace innovation.
  2. Fix Broken Processes: Rapid growth can strain outdated or poorly designed processes, overwhelming your staff. Now is the time to upgrade those workflows.
  3. Embrace Transformation: Innovation brings positive change by enhancing processes and operations. This means faster, more effective, cost-efficient, robust, accurate, and insightful systems.

At TurboExecs, we aim to improve the lives of business owners by understanding their goals and dreams, removing barriers, and providing a clear path to success. We have the talent, tools, systems, and processes to make this happen. Interested in learning more?  Reach out to us here.

By focusing on innovation, you can stay ahead of the competition and ensure long-term success for your business.

 

 

 

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