Photo: Steven Greenbaum
Today’s advice comes from our interview with Steven Greenbaum, co-founder and CEO of the printing, shipping, and design company PostNet:
“By looking at trends in our business, we started to recognise that the pack and ship industry had sort of changed. And that the competitive landscape had started to change. You’ve got to be able to look out ahead of your business a little bit, because there were dynamics occurring in the industry and that forced us to diversify.”
Greenbaum told us that he realised at some point that continuing to do exactly what he had been doing with PostNet wasn’t going to advance the business into the future. Greenbaum asked customers what they’d like to see that would enhance the experience they had with the company. He took their advice and PostNet now provides design and branding advice to customers who come in for their printing and shipping needs.By diversifying what PostNet was able to do for its customers, Greenbaum altered the business model, allowing his company to evolve and compete in the market. Change doesn’t have to mean the end of your business, Greenbaum said. You just need to ask yourself, “how could you either insulate your business from any potential negative impact, or capitalise on potential opportunity that could occur as a result of those changes?”
“We saw an opportunity to diversify and to provide a nice stability and additional growth opportunities for the system. And so it is a combination: looking at any subtle or significant changes, and thinking about how those changes might impact you and your business.”
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