One trait that successful startups often have in common is the ability to switch directions quickly in response to changes in the market. Lanng noted that an agile approach to development, both in terms of your product and your company, will help you grow more quickly.
“By allowing yourself to adapt and change quickly, you’re able to test different approaches to business and find out what works best,” Lanng told Business News Daily. “It allows you to fail, pick yourself back up and keep going.”
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Chris Cornell, founder and CEO of Manhead Merchandise, said his company has found adaptability to be key in expanding its client base beyond the music industry.
“Look to current pop culture trends for an opportunity to become part of the movement, when it makes sense,” Cornell said. “In an era of internet-fame, we looked to expand our horizons beyond the music industry. We partnered with ‘The King of Pop Culture’ and insta-famous pup, Doug the Pug to release his new gear. Recognizing the reach and popularity of Doug, we were able to take his merchandise to the next level, extending our business model beyond bands.”