Necessity is the mother of reinvention

We all know the well-known proverb, “Necessity is the mother of invention”, but perhaps in these strange times, that should change to ‘reinvention’. Take a moment to reflect on just how many of the biggest and most successful companies globally have built continual business reinvention into their DNA. Companies such as Amazon and Netflix always appear to be one step ahead of the competition, continually reinventing their product offerings and their brand positioning with their customers. Remember, Amazon started life as an online bookstore, and Netflix started out as a business shipping DVDs.  Both companies recognize that to remain relevant and competitive, they have to constantly keep ahead of the market and customer demands that change with incredible speed. It is the same for any of our businesses, large or small. In these challenging times, when no-one really knows what the future business landscape will look like post-Covid, we all have to be constantly open to change, and to adapting our businesses to meet new needs. As suggested, necessity really is the mother of reinvention in today’s new world.