You need to be able to identify whether the demand for your product or service is increasing, leveling off or declining. Determine if there are opportunities for your company's products to be refreshed in the marketplace by being repositioned, improved or brought out in a new size, flavor or package. Or if the old product has outlived its usefulness, you need to be able to pick up the slack by introducing a new product in the market. Continuously readjust to the marketplace. Time will bring new opportunities as well as changes likely to affect what business is already doing.
Technology also moves quickly, that some products see some shorter life cycles.
Shifting gears as demand moves up or down is critical to continued growth. You need to be flexible in adjusting your marketing strategy and product offerings. Grow at a controlled pace and keep failures manageable. New products or services may not take off right away and possibly not at all. Make sure that you are still able to manage the growth of your business.