How to Reinvent Your Business After 15 Years

 

Nikki Carlson, ChicExecs Marketing Agency’s Co-Founder/Co-President, shares four tips for reinventing your business after running it for 15 years on Forbes blog. At 15 years of age, your business is almost old enough to start driving. Your years of experience have created a thriving, established company that’s been in business for quite a long time. After the thrill of owning a startup fades, you might not be as growth-minded these days. But every company, regardless of its size, should be poised for growth. A lot has changed in the last 15 years, and you might be missing out on new revenue streams, better processes and affordable tools that can take your business to the next level.

You know how tough it is to run a business. You should pat yourself on the back for coming so far. But remember, there are many more mountains to climb.  No matter the age of your business, there’s always room to grow.

Make the next 15 years even more spectacular starting with these ideas:

1. Adapt to changing technology. Going into 2020, business owners have to be 100% on board with digitization. This isn’t about sticking to what you’re comfortable with. You have to change with the times to run more efficiently.

2. Rethink your brand. Fifteen years is a long time to run your business. You’ll eventually need to adjust your brand to the times. What is it doing today that doesn’t make sense? Is anything about your brand dated or irrelevant?

3. Be open to new ideas. The world is going to keep changing, and open-minded entrepreneurs are one step ahead for that reason. But it’s hard to consider new ideas, especially after you’ve been running your business for a decade and a half. Nobody knows everything, and it’s important to keep learning.

4. Use your mistakes to grow. Have you ever made a mistake and thought, “Ugh. I’m so stupid. How could I have done that?” Every business owner feels that way at some point. The problem is, when we look at mistakes through the lens of failure, we’re overlooking the purpose of mistakes.

Read Nikki Carlson’s full Forbes blog for more helpful insight on how to reinvent your business after 15 years.