Changing Business Models? You're in Good Company

Bus Model Change WEBWhen your business is new and small, you may change business models often. Of course, this ends after you grow and become established. Not so fast. Organizations of any size can change their business model. Organiztions like PayPal, Google, Facebook, Microsoft, and Tiffany & Co. just to name a few have all found it necessary to change business models. Some changes were more radical than others.

There may be good reasons to change your business model. Beating the competition, what you have just isn’t working, trends, and the fickle market have changed are some reasons it might be necessary to change your business model. Other times, it might be a decision to cut losses for one business unit that’s dragging down revenues and sell it off. One organization simply doesn’t have the qualified staff to run a division that’s lipping along right now. You may think it an easy solution to just hire a staff, but they are in an area of the country that doesn’t have a good talent pool and it’s even worse for technical talent. This can pose a real problem for the growth of the organization.