MILWAUKEE, Dec. 27, 2022 (GLOBE NEWSWIRE) — Northwestern Mutual: Staying relevant in a changing marketplace is a top priority for small business owners. There are many aspects to maintaining business resilience, but keeping them on top of the day-to-day operations of running a business can be challenging. Take a look at his four ways business owners can stay adaptable and embrace change.
stay flexible and open
Business owners should pay attention to how they maintain flexibility, such as connecting with customers on social media or offering in-app ordering for in-store pickup, staying abreast of new trends and new ways to reach customers. there is. Business owners can stay ahead of the curve by listening to their customers, actively looking for new ways to connect, and paying attention to what other businesses are doing.
Implement changes quickly
The market is constantly evolving and companies that do not keep up with the latest trends can be at a disadvantage. Also, once you fall behind, you may have a hard time catching up. Implementing change can mean adopting new technologies quickly, staying abreast of trends in consumer tastes and preferences, and actively seeking new and developing segments of the market. .
Experiment and get feedback
Business owners willing to try new strategies and get feedback from customers and employees may find they can adapt more quickly to a changing market. Trying new things and getting suggestions from field employees alongside customers can mean the difference between lagging behind and staying ahead of the competition. Experimenting is not enough. Few things are perfect on the first try. Evaluating what worked and what didn’t by examining the process, asking for candid feedback, and changing things accordingly is essential.
consider life insurance
Business owners may consider purchasing life insurance to protect their business for several reasons. If they die unexpectedly, death benefits can inject cash into heirs during difficult times for business. A death benefit can provide funds to buy out a share of your partner’s business in the event of your partner’s death.
For additional benefits, business owners may consider a whole life insurance policy, such as whole life insurance. These policies come with many features such as a cash value component that increases over time as the business owner pays the required premiums. An owner can take out a loan against a policy for any reason, such as to cover business expenses or to provide additional cash flow during difficult times.
contact address:
Don Klein
Assistant Director – Field & National Grassroots Public Relations
donklein@northwesternmutual.com
1-800-323-7033
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