The 'Intuit' reinvention infographic looks at the importance for small businesses and entrepreneurs to stay innovative in order to keep up with competition.
According to this study, 53 percent of companies are having to embrace change in order to stay in business, and 33 percent of those owners are expecting a 10 percent growth within the next year due to the reinvention that took place. A majority of businesses are innovating on its products and services, followed by the adjustment of infrastructure in staff or technology.
The Intuit reinvention infographic provides five tips to keep in mind, and they include knowing when it’s time to change, keeping help close when needed, identify changes necessary, letting go of old models and lastly to create and execute a plan.
Why This Trend Is Growing
- Business Innovation
- Opportunities for disruptive innovation include finding new ways to create and execute plans.
- Embracing Change
- Opportunities for disruptive innovation include identifying necessary changes and adjusting infrastructure accordingly.
- Reinvention
- Opportunities for disruptive innovation include innovating on products and services to stay ahead of competition.
Industries Being Reshaped
- Small Business
- Opportunities for disruptive innovation include leveraging new technologies and ideas to stay innovative in the changing business landscape.
- Entrepreneurship
- Opportunities for disruptive innovation include embracing change and reinvention to drive growth and success in the entrepreneurial journey.
- Technology
- Opportunities for disruptive innovation include developing new tools and solutions to support businesses in their reinvention efforts.
