Business owners, keep your eyes wide open

Have you look at the big businesses such as Nokia lately? Nokia’s phone business (devices and services) was of curse bought by Microsoft recently. But before that, they kept their eyes shut and didn’t realize changes that are taking place all around their phone business. Apple and Samsung Electronics ate into their once lucrative phone business by introducing new smartphones. There are lots of lessons to be learned from their demise.

Keep your eyes open for competition. Nokia was late to the smartphone business. Their hand sets were once acclaimed by the world. More innovative Apple and Samsung Electronics introduced many new smartphones that were embraced by gadget and technology hungry consumers worldwide.

Keep your eyes on what is going on in the industry you are in. Whatever the business you are in, the ways to do things are changing rapidly. Whether it is technology, keeping in touch with your clients through social media or any other, keep your eyes focused in on the industry that you are in.

Keep your eyes open for opportunities. If you have defined set of goals for your business, opportunities are all around you. Have a clear understanding of your market place, your clients and their needs.