“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.”  ~ Warren Buffett

Change is tough for nearly everyone, me included. Once I find something that works, I tend to stay with it. This has led to many long-term and positive business relationships. However, my reluctance to embrace change has also led me to miss recognizing that fundamentals were changing (think buggy-whip manufacturers). 

In my case, my primary occupation as a traditional real estate agent, went from a relatively positive one to such that it became extremely competitive with shrinking margins. I had a difficult time recognizing that my job no longer held much of a future. It had evolved into much longer hours with less and less reward. I was competent at what I did, which meant I was still succeeding while others were starting to fail. However, my success also had me missing that the niche I occupied had changed. The long-term potential was poor, but I hadn’t spotted it yet. With time I became more objective and eventually shut down that business. 

My point is it’s easy to stay with what has worked in the past. That can be a fatal way to run a business or severely hold you back in your personal life. Learn to embrace change and the possibilities that may come with it.

“Spend every day trying to be a little wiser than you were when you woke up.”  ~ Charles Munger