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Only 30% of small businesses survive 10 years* – and it doesn't get any easier after that.
The business world is changing at a frantic pace: markets, buyer behavior, technology, suppliers, competitors, products, services, regulations, and more.
This puts compelling pressure on every business to adopt new strategies and processes. To thrive in the future, businesses must rely less on what they did in the past.
So, what do we change, and what do we keep?
I vote for keeping business values: the guidelines we use to make decisions. The cumulative effect of those decisions defines our business' culture.
Culture eats strategy for breakfast, as legendary business strategist Peter Drucker often noted.
When you’re deciding how to adapt to the volatile business environment, don't close the book on the past—turn the page to the present.
Apply your business values to continue your culture that has sustained your business for years and will serve you in the ever-changing business world.
p.s. Thanks to David Schmaeling for suggesting this topic. Have an idea for a future PhilTake? Share it with me on social media.
Looking for a speaker for your business or service club event? Email email@example.com to take your business or organization from Successful to Significant.
*Source: Bureau of Labor Statistics’ [Business Employment Dynamics]
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