Despite being one of the most popular social networking platforms, MySpace lost its market share because it failed to adapt to the ever-changing demands of the users. Amazon, on the other hand, started as an online bookstore but soon became a one-stop shop for all your needs. It managed to survive because it expanded its vision. It quickly adapted to the needs of the hour before its competition could have done it. 

Being a small business with very restricted finances and cut-throat competition, it is even more important for you to customize, innovate, and follow the trends. Here are a few tips that may help you foresee the future and prepare yourself accordingly- 

• Interact with your customers frequently and seek their suggestions, feedback, etc. Ask them what they are looking for or what they think would be a good thing to have. Use these ideas to tweak your offerings. Try to be the first one to bring on-demand changes. 
• Stay tuned with the recent changes in your industry. Watch what your global competitors are doing. Attend seminars and webinars where leaders talk about future trends. Get to social media and see what is happening around you. Your clients may not need those ‘extras’ or ‘trends’ but sooner or later they will want them. Maybe you are a small regional business but don’t you want to become a trendsetter in your area by introducing those trends first? 
• Hire people who are ready to adapt to new changes; be it changes in operations, location, finances, or the way you provide a specific service. If your team is rigid about sticking to their job profiles, you may find it hard to bring changes in your business. Build a team of people who are ready to innovate. 
• Be a business that not only adapts to the needs of clients but also listens to its staff. Does your team require specific training to do their job better? Do they need advanced equipment? Is there new technology coming up that can help them provide better services? Track these internal and external requirements and address them as quickly as possible. 

Be open-minded. The plan you originally created has to be revised frequently to cater to the new needs of the changing times. 

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Franne McNeal: https://www.linkedin.com/in/frannemcneal