Studies have shown that people who work for longer beyond their retirement years often live for longer. There are other studies that have shown that those who retire earlier die within several years of retirement. These studies contradict each other because they fail to take into account manual jobs, desk jobs, high stress jobs, or even difference in incomes.
Upon retirement, it is not the lack of employment that causes people to die. Rather, it is what employment represents; a goal. A reason to wake up in the morning.
I keep hearing that phrase all the time. “We are in unprecedented times” so they say. As an entrepreneur, I created a business that will thrive all things remaining constant (ceteris paribus). But normal is broken. Constant is no more!
There’s that saying that keeps popping in my head, “Change is the only constant.”
What do you do when you have built a factory that produces a certain product and you can’t produce the same product anymore? You reinvent. If I don’t reinvent I die. Companies that don’t innovate die. Just like people who retire and don’t have a reason to wake up in the morning often die within 5 years.
Tesla is now producing ventilators for the hospitals during the COVID outbreak. BAE is also producing ventilators for the NHS and lending their supply chain to priority goods. This is amazing. I don’t have a robust supply chain like Amazon and Tesla to lend to the outbreak. What I can easily do is stay at home and keep the NHS safe.
Yet there’s the question at the back of my mind: How do I reinvent?
"Find an analogy for your problem"
As Simon Sinek said,” People don’t buy WHAT you do; they buy WHY you do it.” Sustainable Water’s WHY has not changed. I will always find a WHAT (product) that can fulfil that vision every single time. For now, it's not clear but I am trying TRIZ.
My friend introduced me to TRIZ. In short, find an analogy for your problem. The analogy is a problem with an already known solution. By taking your problem through the analogy you should be able to work out the solution. We have found success by creating a marketing strategy that can be implemented now and in the coming months. Hopefully, this is the first step to reinventing.