Feeling stuck? Or fired? Or inspired? Today's "best of times, worst of times" economy offers the perfect opportunity to take stock of your life and your business. One thing is certain ... maintaining the status quo is not an option.
You may be one of the millions who were forced out of a comfortable (but perhaps, unfulfilling) career. If so, your best option and only real choice may be to reinvent yourself. Or it could be you feel compelled to reinvent yourself or your business in order to seize an unexpected opportunity. Either way, this issue of SUCCESS will prove invaluable to you.
Reinvention has resulted in some of the world's greatest business success stories. Companies that launch with the intention to do one thing often end up finding their grand opportunity lies in a completely different direction. Taking advantage of the opportunity requires a reinvention of thought and strategy--and the effort pays off. For instance, as a startup, Flickr was an online game project and chat room. When its founders realized how much fun players had using the game's photo-sharing tools, they scrapped the game and reinvented their project into a wildly popular site that currently hosts more than 4 billion photographs from users around the world.
Reinvention doesn't have to mean doing something wildly different than you started out to do. It can be a process of evolution. For example, Nike continually reinvents itself--and for that reason it is formidable in a very competitive market. The company has morphed from a successful athletic shoe provider into a powerful sportswear brand, and then into a lifestyle company with a surprisingly wide product offering. In addition to the numerous brands under the Nike label, the company also owns Cole Haan, Hurley International, Umbro, Bauer and Converse. Nike's leaders have...