Research and development is not just for tech companies or manufacturers but also for companies that plan to be around tomorrow. Even small businesses, as basic as a cleaning service, have to be on the lookout for anything that can do it better.”
Feuer started Max-Wellness, a retailer of health and wellness products, after 16 years as CEO of OfficeMax, which he founded in 1998 and grew to a international company worth $5 billion in annual sales before selling it in 2003.
He says businesses need to get past the “if it ain’t broke, don’t fix it” way of thinking and challenge themselves to constantly look for ways to improve what they’re offering. It’s the only way to maintain loyal customers who are always looking for the next best thing.