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Session 49: Navigating Economic and Market Changes - Reading the Waves
Welcome back! Entrepreneurs don’t operate in a vacuum. Economies rise and fall, markets shift, and consumer behavior changes. Your ability to read and respond to these waves determines whether you sink or sail.
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Why Market Awareness Matters
Ignoring economic trends leaves you vulnerable. Watching them helps you adjust pricing, marketing, and strategy before it’s too late. Market awareness turns challenges into opportunities - but only if you pay attention.
A Real-World Picture
Kodak dominated film photography, but ignored the digital trend. Their failure to adapt to market change led to their downfall. Meanwhile, companies like Canon and Sony embraced digital - and thrived.
Humor Break
Ignoring market changes is like wearing winter clothes in July. You’ll stick out - and not in a good way.
Action Step for You
Pick one economic or market trend affecting your industry. Read two articles or reports about it this week. Then ask: how should I adjust my business in response?
Closing
Markets change, but smart entrepreneurs change with them. Next, we’ll finish our series with Leveraging Strategic Partnerships for Financial Growth - the ultimate accelerator.
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