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3 Mistakes That Cost Business Owners Time, Money, and Valuable Customers

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Peter Drucker, commonly referred to as the Father Of Management, said that a business that does not innovate will eventually fade away — which still applies in today’s digital era. How does a business evolve with the times and pivot their marketing and branding strategies to not just stay relevant, but to thrive in today’s economy?

aLooking at this same question from another perspective — what mistakes are business owners and entrepreneurs committing that keep them from reaching their true potential, irrelevant to how the market and economy is performing?

The global pandemic has forced businesses to adapt and pivot their customer acquisition and delivery processes without notice. Businesses around the world were forced to close their doors and serve customers virtually, except in a few essential industries. A study showed that over 30% of businesses were shut down during the quarantine in 2020, and many of them will likely not operate again.

The companies that have adapted and pivoted their business models and client acquisition systems have survived, and in many cases, even thrived. On the other hand, those that did not pivot and adapt have either suffered massive financial losses or have disappeared altogether.

Here are some examples of how a business can pivot, modify, adjust, and cater to today's digital customer:........

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