The key to winning in business is to always think and act differently from the competition, even if it means breaking with tradition. A great example in the news these days: Macy’s deciding to break with its 155 year history of being closed on Thanksgiving Day this year so that shoppers can get a head-start on Black Friday.
While many will accuse Macy’s of somehow desecrating Thanksgiving, I admire the entrepreneurial spirit. All businesses and entrepreneurs should aggressively seek ways to take advantage when others are stuck in old rituals.
What lessons can you learn from this bold move?
1. Traditions don’t make it to a financial statement. While most American’s immediately frown on the idea of businesses being opened on Thanksgiving, Macy’s understands that holding to traditions just because, is not smart business. In order to maximize, you must be willing to break with traditional ideas.