In the business world, adaptability is the key to longevity. There come a time in the entrepreneurial journey when making a pivot is critical to keep a business afloat or to keep it relevant – whether it be to modernize a business to meet the current business landscape, or to address other external factors impacting sales, as we witnessed firsthand during the pandemic.
For many established and traditional businesses, millennials are leading the charge regarding transformative change. An estimated 36% of Millennials are considered to have a very high entrepreneurial spirit, compared to 29% of Gen Z, 33% of Gen X, and 25% of Baby Boomers, according to,. This spirit can help drive change in new and established organizations, breathing new life into traditional models to ensure their business’s legacy and relevance for years.
She also emphasizes the importance of seeking an outside perspective, whether that be through a consultant, focus group, or other means. “They can help identify areas for improvement and guide you through the modernization process.” "Embrace digital transformation by adopting new technologies such as AI tools that can streamline operations, enhance customer experience, and improve efficiency,” adds Zhu.
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