Technology is now transforming the nature of work at an unbelievable rate. It is touching every company and consumer is many ways. But how, as a small or mid-sized business can you take advantage of this? Do you just go out and buy the latest electronic fad at Sharper Image? (which doesn’t exist anymore). Join Rick and Brandon as they talk about what you can do as a business to keep up with the digital age.
Article referenced: McKinsey Global Institute publication_ Digital America: A tale of the haves and the have-mores by James Manyika, et al.
- Engage the customer
- How can you improve the communication between your company and your customers before—during—and after the sale?
- Create new products and business models
- What customer need can you meet with new products, or more extensively a new business model?
- Improve operations
- How can you improve communications between you and your employees?
- How can your operations help the customer?
- Conquering a common problem with technology: Do you have a single revenue stream? Defined:
- A high percentage of revenue from just one customer;
- Any customer contributing more than 15% of your total gross revenue;
- You sell only one basic product or service;
- Consider ways of using these tools to address these challenges
- Internet
- Mobile connectivity
- Social media
- Smartphone apps
Moral: Using technology in your business is not like making sausage. You can actually enjoy watching it being made.
