Imagine how Google would go about organising your business’ administration. What about if the team…
Will You Be in the Pack or Leading It?
When the sun comes out again, will you be in the pack or leading it?
Times are tough. Consumer spending is low, and no one wants to part with their hard earned cash. The government’s efforts to get things moving with tax cuts have made little difference, and our economy is the most sluggish it’s been since the GFC in 2009.
And that means there’s no time to lose.
You need to be innovating, NOW!1
NO TIME FOR HIDING
“But, how can we?” I hear you cry. “Our customers are spending less and still demanding lower prices. We’ve just got to weather the storm.”
I suppose that’s one option. You cut back on as many things as possible, reduce your overheads, cut your prices, baton down the hatches and so on. With careful planning and resource allocation, you’ll survive long enough for things to pick up.
Perhaps a nice snooze for a few months and a little hibernation is in order.
TOP OR BOTTOM?
This is no time to be racing to the bottom. That’s a recipe for disaster for a small business.
And it’s no time to be chasing just any customer.
Now more than ever, you need to be looking for the good ones, improving services, communication, increasing touch points and upping the quality of your offering to attract the best clients.
Because great customers aren’t searching for the cheapest prices.
Now is the time to be racing to the top.
YOU’RE IN A RACE
It’s important that you remember that this is a race, and you’re not the only one in your market. You have competition, and they all have many of the same problems that you do.
They’re panicking about precisely the same things that you are as well.
For much of the time, you can run the race, comfortable as a member of the pack. But every so often, an opportunity will present itself, and by investing in innovation, you’ll be able to forge ahead.
Now is one such time, because everyone else is saving energy and resources to get them through the hard times because they know as you do that better times are not really that long away.
But what state will you all be in by then?
WHEN THE SUN COMES OUT
Your businesses will be weak and malnourished, and you’ll still be racing to the bottom, desperate for a few crumbs.
But a few of your competitors will have used the hard times to prepare themselves for the change. They’ll have innovated, using technology to develop better products, improve processes, solutions, operations, communications, services and more.
And when the purse strings are loosened, they’ll be the ones who’ll make hay when the sun shines.
Will you be in the pack, or leading it?
So now is the time to start maximising your technology use.
Now is the time to find better ways to do whatever it is that you do.
Now is the time to innovate.
And given that nearly 90% of innovating small businesses say they benefitted from the experience, perhaps it’s time you did the same.
“The opinions expressed by Smallville Contributors are their own, not those of www.smallville.com.au"
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