September 6, 2022

Successful Companies Never Stop Innovating

By Paul Daniels

Over the past two years, I have talked about innovation many times. That’s because adapting and innovating are key strategies to survive the current pandemic and increase business. These strategies are even more important now thanks to our changing economy.

Photo courtesy of Paul Daniels

Nobody seems to know what the future will bring. However, companies that can stay agile will likely succeed and grow no matter what happens to the economy.

According to an article that I read, existing businesses thrive during an economic downturn when they remain relevant to customers. Successful companies will innovate and adapt quickly to the winds of the economy.

As you can see, it is not a time to cut back. If your customers trust your products and services, they will be open to your suggestions and innovations. You also want to depend on suppliers that are flexible and can help support your business.

Most customers I talk with are busy, and construction reports seem strong. A culture of innovation in your business will serve you well no matter what the future brings.

PS: I wanted to comment on how nice it has been to get back into the world this summer. We attended a wedding on a beautiful lake in Wisconsin, spent a week with family and friends on Cape Cod and had a great kayak trip up the Bass River in Dennis, Mass. We got back to Los Angeles just in time for five consecutive days of temperatures over 105 degrees, with five or six more days to go. Summer is fading away.