One of the characteristics of a successful entrepreneur is Flexibility.
As the economy moves in cycles with many unpredictabilities, every business should be flexible to a certain degree to survive markets vicissitudes.
Without flexibility, a business would find it difficult to maneuver competition. Competition will try to undercut margin, offer customers extra just to win sales and in some cases, with latest technology, deliver quality products at a reduced price.
And having a faster turnaround, better quality and cheaper product will often change market dynamics. So business owners have to embrace flexibility in operations and transactions.
Every transaction must have a determined objective. Sometimes the objective might be sales volume; sometimes companies enter markets at zero margin just to test product or service acceptability and sometimes businesses add extra or give complimentary services to keep patronage.
Whatever it takes to adjust to markets dynamics must be embraced…