No one wants to get ‘uberised’ (yes, this word is made up)!
Yet every business small, medium or large needs to be more adaptable than it has been in the past to avoid being the victim of disruption in their marketplace. There’s a massive shift in the speed of change in the introduction of technology and globalisation in business today, such that we find ourselves in a much more competitive marketplace.
Take it as read; you can’t have a ‘set and forget’ business model anymore in any business, because the one constant in our world today, is change. Charles Darwin famously said, “It is not the most intellectual or the strongest species that survives, but the species that survives is the one that is able to adapt to or adjust best to the changing environment in which it finds itself.” And this quote applies as much to business today as it did to species in the 19th Century.
Things will continue to change faster and faster and faster as technology is introduced into markets, as global competition increases, as the number of competitors in every single market increases. Even Small Business will not be immune to this, and it means that as Small Business owners we have to be continually aware of what’s going on in the world so that we can adapt to any changes in those trends and make sure that we can guarantee our survival into the future.
The business that made buggies for horses probably disappeared relatively quickly after the invention and release of the car and the speed at which change is happening in today’s market is far faster than then.
So, what are my tips for you to help your business avoid ‘uberisation’:
MY FIRST TIP IS TO KEEP AN EYE ON MARKET TRENDS.
What is happening in your market both locally and overseas? Do any of these trends look like they will change the way people, customers, suppliers or businesses do business in your market segment? How can you take advantage of them? What do you need to do or work on?
MY SECOND TIP IS PLAN EARLY FOR CHANGE.
Whilst you don’t want to throw the baby out with the bath water, you do want to make sure you are ready and prepared for any changes in your market. This means testing new software, looking at new products and services and adapting your market value proposition.
MY FINAL TIP IS SENSIBLE ROLLOUT.
Always test new offers with your customers to see they are valued and accepted. Are customers responding well? Is it helping you to keep or attract new customers? How does your new offer compare with your existing business?
Change will happen. Will you move with it or will you get ‘uberised’? Good luck with your response to this beautiful, exciting, yet challenging business world we live in.
Originally published on Smallville.