Charles Darwin said: “It is not the strongest of the species that survives, nor the most intelligent. It is the one that is most adaptable to change.” This is applicable for entrepreneurs. It really is a matter of survival.
Today, many businesses are grappling with tough decisions regarding their company’s future. However, several entrepreneurs are using this “essential” change in their business model not only as a way to survive but as a way to make their business stronger than ever.
To survive, businesses have to change their plans all the time. I have my own experience in this with 3D4Medical, which wasn’t always a medical learning platform. When I founded the company, we produced and licensed 3D medical stock imagery. The brunt of the recession hit in 2009 and I realised that if the business didn’t adapt to the changing climate then it would have no chance of survival. So, I turned 3D4Medical into a software company. The company was successful for several years but in 2017 the business started to stagnate. We adapted again. This time, we became a cloud-based medical learning platform, and ended up doing better than ever.
In business, adaptability is crucial. If you don’t adapt you don’t survive.
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