‘[tweetmeme source=”RoseA_smallbiz” only_single=false]’ One of the most common reasons for business failure is the entrepreneur’s failure to acquire adequate knowledge of the industry prior to jumping in.

If there is one constant in business, it is change. From new technologies and economic trends to emerging markets and the sensitive customer, your ability to anticipate change and how it will impact your business success is critical to the longevity of your business.

Successful entrepreneurs are also exposing themselves to the skills of complementary sectors. As the global marketplace becomes more competitive, it is also important to keep abreast of the world economy and international events that may affect the local business environment. The recent demise of Wall Street provides a perfect example.

Be creative. Build knowledge from numerous sources, including competitors, customers and leading companies in other industries. Keeping up with the latest technology will be crucial to enhancing your ability to seamlessly adapt to change.