How innovative and adaptable is your small business?

SUMMARISED TRANSCRIPT

G’day; I’m here at the Kondalilla National Park in the Montville Maleny Hinterland. It’s a beautiful setting for a Taggart tip.

I’ve just done a 4 km trek around the gorge here and it’s easy to see that this place has been here for hundreds and hundreds of years, and the reason why is because continued to evolve and adapt to surroundings in the changing environment.

I got to thinking that to run a successful small business requires a degree of entrepreneurial skills and the skill set required to identify changing surroundings in the circumstances — a changing environment, business environment, and to then innovate and adapt accordingly.

To be successful over a long period of time requires that ability and if we don’t, then surely we will end up in a stagnant environment. Just like this pond behind me; if it’s not running, it’ll just end up dead.

To remain successful over a long period of time in small business; innovate or die. That’s my tip for the day.

*** This publication is for guidance only, and professional advice should be obtained before acting on any information contained herein. Neither the publishers nor the distributors can accept any responsibility for loss occasioned to any person as a result of action taken or refrained from in consequence of the contents of this publication. Publication date November 2016.

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