The meaning of this term refers to unpredictable events that take place without anyone having ever expected such an eventuality. An instance would be the 9/11 attack, which was something nobody had ever imagined till then.
In business also, changes can happen, sometimes very fast. But there are patterns that can be observed in these changes.
Right now, the world is facing a COVID-19 crisis. This could lead to a major shift in the economy. The new world order is about to be created. Since there was a systemic failure, a new solution will have to emerge.
So as business owners, it is time to think about the future.
It is time to create positive Black Swans in your business right now.
Watch today’s episode to understand how you can handle this Black Swan in your business journey.