What's This "Reinvention" Thing Mean?

In a word, change. Change that results in lower overhead and greater profitability. Change that has an upside winning potential. This frequently includes radical adjustment, i.e. big changes.

For example:

1) Change or add to your place in the market, retail or wholesale.

2) Expand, vertically or horizontally.

3) Make or buy, subcontract.

4) Import/export.

5) Become a virtual company.

6) Isolate and focus on a niche section of the market.

7) Have the most or the best of something.

8.) Offer attractive terms.

9) Be shocking in a meaningful way.

10) Provide amazing customer service.

11) Be the first.

12) Be the best.

13) Do what your competition does not do.

14) Go national/regional.

15) Buy your competition.

16) Change your location.

17) Add wholesale/retail, distribute/import.

18) Use reps or brokers.

19) Consider joint ventures/partnerships/licensing.

20) Offer customization/private label.

21) Offer "do it yourself" support.

22) Change your branding.

23) Change your systems. (e.g. self-service vs. full-service)

24) Be high-end, low-end or middle. Choose one.

25) Provide special and unique services.

Reinvent your business. Make large systemic changes that result in a different way of doing business while handling the same products or services. In other words, by doing business a more profitable way. Think about what you can do to make major changes that will result in increased profits. This is how a small business owner can successfully navigate this recession.