Digital Disruption Is A Race – Act Now!
Innovation is the ability to see change as an opportunity not a threat” (Steve Jobs)
How do you leverage this to ensure your business stays intact?
It is important that you determine where the real value add lies. You need to ask some searching questions such as:
- Does the new environment favour taking out costs in your supply chain? For example some businesses who deliver to customers are using Uber to make this delivery. They are saving substantial transport and labour costs. These businesses have the flexibility to either reinvest these savings or add to their bottom line.
- Does the technology enable you to radically restructure your sales strategy? The most time-consuming and expensive activities of a sales force lie in travelling to clients. Some businesses have used technology (Skype, the Internet) to detail their products or services to customers. In one case sales representatives meet clients only twice a year and Skype them to sell new deals and new products. Productivity and sales have increased and they have saved nearly thirty per cent of their selling costs.
One strategy that is working well is mixing technology consultants with your experienced staff. This interaction often gives excellent results. You are combining knowledge within the business to expertise in new technologies.
Another successful intervention is keeping your staff up to date with the changes you are making. Rapid change can lead to job insecurity amongst your staff and openness and transparency are often the best antidotes in this situation.
Threat or opportunity?
Whilst we are living in turbulent times, keeping your head and understanding what can be done can lead to even greater prosperity.
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