Adapt To Build A Better Business

Look around you. Kids today have mobile phones, iPods, Facebook, Twitter, Google, iPads are even compulsory in some schools...the list is endless. Kids are multi-tasking, multi-educated and multi-stimulated and its all happening fast.  They are networking and socialising like never before, discussing their likes and dislikes with the world. They are consuming and purchasing products and material online for large portions of their day and most importantly, they are your future customers/clients.

But to make things worse, now they are educating and encouraging their parents (your existing customers and clients) in these new technologies which is driving the rapid change in the way business is being done today, not just tomorrow.

 

Only three months ago my own mum refused to send an email. Said it was the reason for the breakdown in communication today and that computers were a waste of time.  Then my dad got an iPad and now mum is sending emails regularly and shopping on line. Having finally accepted the efficiency and benefits, her usage of online technology is growing daily.

This is going on everywhere! Ten years ago online sales accounted for 1% of retail sales (excluding travel & events). Today they are at an estimated 4% or $8 billion and this is expected to treble in the next 4 years. Source AFR 4 June 2011).

 

As a business owner you need to be looking at your business now!

• How is technology currently impacting your business?
• Is the growth of technology going to impact your sustainability?
• Are you tracking how your customers, clients are finding you?
• Are you giving them with every opportunity to find you in order to buy your products?

People are no longer limited by location. They can shop all over the world 24/7. There is a good and bad side to this.  Firstly your customer base has expanded world wide, and on the flip side so has your competition.  You need to adapt to this new economy and the opportunities it brings to the table for your business. It is not going away and those that don't embrace it will become extinct as your customer base move to demand it.

When was the last time you went to a record store? Traditional book shops are rapidly falling along with DVD hire shops.  Change for some can be daunting and thus is avoided, others don't know where to start.  With the new financial year approaching now is the time to review and plan your business strategy for the years ahead. Start the new financial year with a strategy that embraces the new road ahead. The time to act is now.

I am always available for assistance on this or any other business matter you may be needing help with.
Contact me by email or by phone on 07 5594 3434.