Innovation is a critical driver for growth. 80% of the companies that operated prior to 1980 are no longer in existence. An additional 17% are likely to fail within the next five years. Developing an achievable growth strategy not only enhances corporate survivability, it also enables companies to fund new investments and R&D, attract stellar talent, and acquire assets.
With the current COVID-19 pandemic, businesses are now under pressure to reevaluate how to compete and operate remotely. Those that are unable to meet this new set of challenges are closing down or filing for bankruptcy. Innovation requires adaptability, creative thinking, and a deep understanding of the efficacy of business models relative to the markets they compete in. With significant experience working across multiple regions and industry sectors, Lyrium advises startup companies and multinational organizations in differentiating their brand and carving their path to future growth.