Learning for the future
What do these success stories have in common? Several things. First, in each case, someone saw a potential niche market waiting to be uncovered. Then, rather than trying to use a variation of an old approach, they looked at the challenge from a different perspective, understanding that it sometimes takes a new vision to make the most of an old opportunity.
These enterprises hold a lesson for all of us, regardless of whether our business involves fashion or film: the companies that will survive and thrive are the ones that are not afraid to adapt. Forbes Magazine columnist Sam Page noted this when he said, “If your company is not looking for new ways to get in front of new audiences, be afraid for its longevity…Ultimately, being more prepared for faster and faster change is necessary for entrepreneurs and managers. If you're not learning, you're losing.”
Obviously, hard work and dedication will always remain bedrock principles of any successful company, but these alone are no longer a guarantee of success. Today, we must be willing and able to make quick adjustments based on changing conditions in the marketplace and prepare ourselves for opportunities that may right now only be on the drawing board.