We live in a society that is ruled by technological development. To participate and have a meaningful role to play, you have to equip yourself. Self-development is important when it comes to development. Old school folks would probably ask why they need to change their working trade system but they are forgetting that markets evolve and if you and your business are stagnant then you will die out and won't be able to survive the new ways.
Development is a vital tool in entrepreneurship
Markets are forever evolving and the evolution is something that cannot be avoided by anyone or any business. Many have tried to refuse the use of technology or find new ways of conducting business but they have failed drastically.
Yes everyone knows that change is scary but trying to avoid it can lead to you shutting all your doors.
In business, you need to have the new and young every once in a while, these new and young shares with you the accepted or new ways of doing what you are doing. Them coming with these doesn’t mean they are saying you are irrelevant, but rather need to collaborate with them to make your business relevant and up with the times. We agree, young people sometimes get consumed by arrogance thinking what they know is superior but the same arrogance that consumes them also consumes older people who have been in companies for years.
Broken Service centers evidence of stagnation
Stagnation and refusal to change are detrimental to a business or organizational structure. Government institution is the most hit by this because they are old age homes where innovation and technological development is rejected by employees who have been there many years.
Because of the slacking leadership and no one truly being liable and accountable for improper servicing of the public.
So how do you as a business avoid being in a similar state as the government institution because you will lose money and eventually close? The only reason government department are still there, is because people pay their taxes and they cannot really control how that money is spent but when it comes to a price company servicing them badly they will definitely go shop elsewhere. And you as a private business won't have external money from ‘father Christmas’ that will bail you out of your troubles.
Be always on the lookout for better ways to service customers
Customers might be loyal to you but the loyal stops when you start treating them as unimportant. In entrepreneurship, there is a lot of competition and people have a tendency of thinking their business is the ultimate and only. NOPE, it is not, there are others out there and if you are not developing yourself and your business they are going to surpass you and develop and be the new hot thing in the business. So be forever on the lookout for things that will enable you to serve better.