This concept of reinvention carries over to several aspects of the financial world as well, both personally and in businesses.
At a certain age, it’s common for people to put their materialistic desires behind them and focus on a more personal lifestyle. We grow up learning to want things, but after our income level reaches a comfortable level, we reflect on whether we have what we really want. At that point, our perspective can change.
If we can help you refocus your financial situation to match the type of lifestyle you want to lead going forward, we’re here for you.
Companies often find themselves needing to reinvent as a result of rapidly changing surroundings. Not long ago, Yahoo and Barnes & Noble were industry leaders. But, as new technology and competitors emerge, a period of poor sales or stock performance can put once-successful business models in need of a shakeup.
An alternative method of reinvention is simply changing the impression presented to consumers through a rebranding. This could mean a new logo, a new look for brick and mortar stores, a new look for the website; basically good branding means creating a cohesive look across all customer touchpoints.
Does a new logo mean the service or product has changed? Perhaps. Sometimes companies rebrand to reflect changes, other times it’s just a new update to their look. While a fresh, new look could attract new customers in the short-term, if the product hasn’t improved, it won’t be long before it’s time for another overhaul.
The same can be true when it comes to reinventing our own situation. Sometimes we just “rebrand” ourselves, informing friends and family that we’ve joined a gym or started shopping at Whole Foods.
Truly reinventing ourselves requires commitment and discipline. We can’t just say we’ve made a change, we have to take the often painstaking steps to get there. If any of your reinvention plans involve your financial situation, remember that we’re here to help you develop a strategy and stick to it.
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