I know!, I know!! Comfort is not a good term already when it comes to achieving a tangible result. Getting out of your comfort zone and achieving your dream is always one of those daring statements. Some do so; yes, they get out as said and start achieving their dreams and fade out along the way. Maybe I should start by citing an example from the global stage. A company I wouldn't have though we have missed out in something a space I saw it dominating ALL they way.
At least we know a faint story about Nokia. It was a strong company. It was the first set of mobile phones I ever saw as a teenager. technology was gradually entering the world system and they were pace setters. They latter slumbered out because of a bad decision; they were too comfortable.
When Android showed up they refused to embrace this software and sided more for Windows. You see the problem for windows as a mobile was its limitations. No market for games, an early advantage the android software had. How about easy app sharing too? Before they could realize this, it was already too late.
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How large is the smartphone industry? We are talking of roughly $720 billion with an estimate of hitting the trillions in probably a decade or less. How big is the Android phone industry? It has the highest global shares in users accounting for more than 70% worldwide. With 5 billion of the assumed 8 billion using the Internet, we are looking at around 3.5 to 4 billion users globally with an Android phone. You should see what Nokia as a company has missed out on.
As an entrepreneur or a business you have to continually think of expansion. Don't be too comfortable, we are living in a world of trends where customers taste can change overnight. Nokia as a corporation is just one of such many victims.
Why do you think Wall Street decided to jump into blockchain and crypto investment? It is not for the fun of it but rather them discovering their current place of comfort won't scale. Didn't Bitcoin show outstanding signs, beating the dollar and in short every fiat currency in terms of performance?
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Business is and will remain a smart competitive ground, many industries so far have been outdated. Most times it is not because they were unaware but rather as a result of ignorance. This is what is even happening with many online users. The introduction of web3 still remains a myth until new millionaires are minted within five to ten years and all it will be for them is regret. Embrace change, currency flow overtime changes direction to a much better industry.
Personally, I feel I would have been out of business by NOW if I never thought of expansion. I have seen many become this victim. It is not always that easy but it will remain very needful. I had to look at the flow of the economy and push further than where we were. At least, we can boast of being an incorporated business NOW although we are still not at that TOP phase yet. I Sat down one day and told my copartner we have to move on, running a laundry service alone will not scale this company. I did put up this and that as examples and why we should look for related services to add up. It has indeed worked out.
Our economy is thriving with small businesses and the more it is added the denser the market is becoming. This in the process is also shaping this industry. One has to go down for another to stand. The difference is always not just in what you offer but rather in how you offer it. Many older entrepreneurs have refused to upgrade and they have become victims of a dying market. A successful business is categorized by how long you can still remains active in business when grounds shift.
To conclude, let me add, changes are inevitable in the world of business. A mentor once told me a good business must stand the test of time. This boils down to improved services or products. What do customers want, how do they want it? Keep Enough room for research and upgrade as an entrepreneur. Read books, attend seminars, watch videos and news as concerning the future of every industry you are into, don't let time take you by surprise.
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