This is the time for us to take that next step and expand our businesses.įorbes Business Council is the foremost growth and networking organization for business owners and leaders. Don’t forget, every time there is a change in human behavior or a change in technology, it is an opportunity for entrepreneurs to step up and access exponential growth. They say “a crisis is a terrible thing to waste”-so is a paradigm shift. Focus on innovative and new sales or distribution channels. Sometimes the key to growth is not the solution but how you deliver that solution.
A paradigm shift is not limited to academics alone, but its effect ripples out into the public. Rather, it completely changes the scientific theory itself and radically alters the way in which it seeks to understand reality. Then, the pandemic shifted to grocery delivery to your door. A paradigm shift, a phenomenon explored by Thomas Kuhn, is not just a small modification to an existing scientific theory. Then came a new sales channel-the all-in-one supermarket. We need to eat, so we would go to the butcher for meat, the bakery for bread, etc. When paradigm shifts happen, the problems that people face on a day-to-day basis remain the same, but they look for better channels to solve those problems. Innovate on the sales and distribution channels. Don’t get tempted and start chasing unicorns.ģ. Have some strategy sessions with your executive team and reaffirm the problem you are trying to solve and commit to it. It’s easy to get caught up in the new technologies, the new hype, the new trends and lose focus on the actual problem we were trying to solve in the first place. It is not failure but accepting a new and different approach toward something. This becomes even more relevant in times of drastic change. Kuhn always believed that the shift in paradigms is a logical result and interpretation.
This is nothing new-any business leader tends to focus on the problem they are trying to solve. The solutions they proposed were not a technological innovation, but they were able to solve the provider’s issues and the consumer’s issues into an aggregated platform. Paradigm shift This one quickly became overused after several books were published with the phrase in the title.
Unless you have already dipped your toe into the R&D pool, you need to focus on the aggregation as a key to scale. These are the times when massive amounts of R&D budgets are being pumped into new ventures, like AI development, big data and Web3 in tech. When the world is changing fast, the key to unlocking growth is to focus on scale. Here are a couple of things I usually focus on when trying to make a move in an ever-changing environment. This is an opportunity for us-as leaders and entrepreneurs both in and out of the tech sector-to make our move and leave our mark on the business world. When we see any paradigm shift on the horizon, we as entrepreneurs get excited.
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