How to Maintain Success: The Key to Evolving and Innovating

How to maintain success. So this is a great question that I got from one of my readers, Novrez, who wrote in to say, "Thanks for the video, Evan. I got a question. Is it possible to do a video based on how you can maintain success?" This is a great question, and if you want to maintain success, the key is you need to evolve and innovate. A lot of times entrepreneurs, they start a business, they start seeing some success, they start getting sales, they start getting market penetration, they start getting market share, And then you see the company start to plateau. You know, you're here, you're just stable, and then you start seeing the company decline. And this happens with most companies. Look at how many companies have lasted 100 years or longer, and there aren't that many. Most companies shut down, they fail, they can't transfer to another generation, they can't maintain their success because they don't evolve and innovate. The reality is your market is going to change. You discover a secret, right? You, you discover a hole in the market, something that is missing, and you fill it with your product or service. That's great, and it works for a while, but you've got to change it over time, right? You've got to continue to add to it because the market is going to change, and if you don't keep up with it, your company's going to suffer. You can't keep doing the same thing over and over and over and over and over again. Okay, look at Blockbuster, right? They had the video stores You know, go there, rent a video, bring the DVD back. And then came along the internet, and then came along Netflix. And Blockbuster had a chance to buy Netflix, and that deal didn't work out. And now Blockbuster is out of business. They had a great concept, it was working for a long time, they made a lot of money, but they didn't innovate or evolve, and the company went under really quickly. And that's what happens to a lot of companies. So to get to a successful point is hard enough, but to maintain it is harder because you need is to keep innovating and evolving. When you don't do that, two things happen. One, as I mentioned, your company suffers, right? You stop coming up with new ideas and your company starts to stagnate, flat sales, then starts to decline. But the second part is you become bored. You know, as an entrepreneur, entrepreneurs, we're addicted to the new, right? We come up with new ideas, we're the visionaries, We, we have this idea of what we want to create, and then it's fun to put it into place and to start to see it grow. We don't want to just maintain this boring company. We want to come up with new things. And so when you're not doing that as a company, it hurts your business, but it also hurts you. Like, it hurts your soul as an entrepreneur not to be coming up with new things to help your customers out. So you want to maintain success? Continue to evolve and innovate. Believe. For those of you watching, love to know what you think. Leave a comment below, click on the link in the description to support me, click on my face, subscribe to the channel. Thank you so much. I'll see you soon.