Reinventing Yourself – Nokia’s Strategy For Success

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Often times, businesses will reinvent themselves multiple times before they get to really succeed at a high level.

For example, consider Nokia, the phone company.

Nokia started off as a humble pulp mill in 1865.

They did alright but they were not making millions.

So then they went into the rubber boots business. That’s right – they were selling rubber boots. Again, they had mild success…

Throughout the history of the company, they ventured into a variety of industries: cables, paper products, tires, consumer and industrial electronics, plastics, chemicals and even telecommunications infrastructure.

Until they finally entered the cell phone business…

Once they did that, they enjoyed enormous success.

Today, they’re one of the top phone companies on the planet.

Their success certainly didn’t come about in a straight line… It included lots of learning lessons, trial and error, moderate successes and many detours.

But eventually, through innovation and being flexible and adapting to change, they built one of the biggest phone companies in the world.

So what does that mean for you?

It means that you need to be open.

Especially, in the initial stages of your business when you haven’t reached success yet.

It could mean that your product or service or your offer or or your target or your market or something needs to be changed dramatically.

If you keep trying to sell the same product over and over again and you’re not getting any traction, it might not be that your advertising is “wrong”.

It could be that your product isn’t the right fit.

So have a think about it objectively…

Consider this: “Maybe I need to get into a different business”.

Really think about it.

Now fair warning… if you’re looking to make the shift, it will be a really hard decision for you to make – especially if you invested a lot of time, money and emotions into your current business.

If you’re not getting the success you’re after, you have to be able to walk away from the current setup because you need to go into a new industry or a new segment or a new product.

It won’t be easy financially, emotionally and otherwise… but this has to happen for you to succeed.

Imagine if Nokia fought this and they stayed in the pulp mill business or the rubber boots business… They would be an unknown company.

Maybe they’d be doing alright but they definitely would not be enjoying the success that they have today.

So really consider the points I outlined for you above.

If you’d like help with getting a thorough analysis on where your biggest opportunities are in your business and receive a game plan on how to strategically make the shift so that you can generate exponentially more income, give us a call at 1300 680 223. We can help.