Monday, August 8, 2011

How To Overcome Industry Changes That Affect Your Business

I recently read an article written by Jerry Osteryoung called "Beware of industry shifts" ( To briefly summarize the article, Mr. Osteryoung addressed how many industry changes are a result of changes in technology. According to Mr. Osteryoung, these changes cause disruptions.

This made me think of how training your employees can be one way to adapt to industry changes. As a business owner, you have an option of crumbling under these changes, or finding ways to overcome them. It goes without saying that if you choose not to acclimate yourself to inevitable changes, your business may not succeed.

A better suggestion would be to take on these changes head on. The best way of addressing industry shifts is to train your employees. A good example would be businesses in the Information Technology industry. We often see that as technology advances, businesses in these industries must prepare their employees. As your clients request these new services, it would be in your best interest to be able to provide them.  If not, clients will search elsewhere to find it.

As a business owner, it is your duty to recognize the inevitable changes in your industry. However, when these changes occur, don't shy away. As your industry encounters these changes, prepare your team for them.

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