If you don’t adapt now, you’ll die.
Alarmist? I don’t think so. Scary? I hope so.
2013 is the year businesses need to draw a line in the sand. Either commit to making significant changes to the way you do business or keep doing what you have been doing and try survive while your market share is steadily eroded by smarter, faster, more nimble competitors.
The pace of change over the last decade or so has been blinding. It has caught many (most) industries off-guard with some only realising what happened once it was too late. Combine that with a troubled global economy that shows no real signs of improving any time soon and you have the perfect climate for massive disruption.
In Australia we are far from immune. Many Australian industries have been extremely slow to adapt as several studies have highlighted in recent times. As the warming glow of a record mining boom subsides the cracks in our economy will begin to show and uncompetitive, old-fashioned organisations will be the first to fall through.
Don’t think you will be affected? Think again. No industry is immune to the current pace of change. Your current competitors may not even be the ones to worry about. Right now dozens of startups are thinking of ways to revolutionise your industry and nibble away at your market.
Consider the these monumental changes that have taken place in the last decade or so. Then realise that its only the beginning. The magnitude of upcoming change will be even more stunning.
In 2013 you need to adapt or you’ll die. You need to rethink your offerings, your market, your size, your agility and your overheads.
Here are the 5 minimum steps you must address this year (if you haven’t already):
1. You MUST get a strong online presence.
Your crappy old website (if you even have one) with a list of products or services is no longer enough. You need to be found online easily by potential customers. You need to deliver the information they need as efficiently as possible. You need to offer solutions. If this isn’t on your to-do list in 2013 then you might as well give up now.
2. You MUST have a mobile website.
The mobile web is massive now and growing rapidly every year. Mobile devices now account for 13 percent of worldwide Internet traffic, up from 4 percent in 2010. If your website isn’t mobile friendly, at the very least, you have big problems and are already losing business. Ideally, you should have a mobile version of your site, which will have different requirements depending upon the nature of your business. The internet is going mobile, why aren’t you?
3. You MUST start looking for new revenue or marketing channels online.
Do you have a niche product or service that could potentially be exported anywhere? The future of your business could be in building a national or global market for just one of your products or services via an efficient online strategy rather than sticking to your current generalist approach in your current market. The barriers to entry are so low these days that you’d be crazy not to start testing and experimenting with sideline business opportunities which could potentially grow to become the main show. I did this with my own business a few years ago when we launched NLYZR.com as an online SEO tool, attracting a new international market as well as countless new Australian business opportunities.
4. You MUST start outsourcing.
Lean and mean is the new business mantra. Asset-heavy, full-time workforces are being replaced by asset-light freelanced workforces. By only hiring talent where and when you need it your organisation doesn’t just save on payroll, it saves on floorspace and all the employment “on-costs”. Even if your company hasn’t realised this yet the young, up and coming workforce has. Thanks to the Internet and increase in online social activity, endless new opportunities for young educated people are opening up. They realize that the traditional 9-to-5 is no longer their only career option.
Futurist Mark Pesce says, “That much connectivity in the economy creates this enormous capability for fluidity, and so jobs are going to start to become gigs and those are going to start to become tasks, and eventually we’re all just going to be doing a little bit here and a little bit there and it may not be until we get up in the morning and check the smartphone that we’re going to be knowing what we’re going to be doing that day.”
Outsourcing is more than Indian call centres for banks and telcos. There are a vast and growing number of functions you can currently outsource via sites such as Freelancer.com, oDesk, FlatPlanet and our own more locally-focussed option InsiderJobs. What functions can your company start outsourcing?
5. You MUST start cloud computing.
“The cloud” is a bit of a hackneyed and overused term these days but you can’t deny the efficiencies and cost-savings available by enabling a range of cloud-based applications. The options are endless, from large scale data storage and hosting through to smaller applications. Here are just some you should be considering:
- Basecamp for project management
- Yammer for a secure, private social network for your company
- Unleashed for inventory software
- Vend for point of sale software
- Shoeboxed scans and organises your receipts, invoices and documents securely online
- GeoOp for job tracking
- Deputy for timesheets and payroll
Honestly, the cloud options are endless. Integrating a range of these into your organisation will save time and money.
In 2013 you can attract new customers, grow new markets, lower your overheads and become more efficient….or you can keep doing what you have been doing and hope for the best. This combination of moving your marketing and sales online, outsourcing as many functions as possible and integrating more efficient cloud-based solutions are the basic steps to take to survive and hopefully thrive in this rapidly evolving economy.