Movers and shakers who are new to the business world as well as company owners you probably already know this but we believe it is important to underpin it, your business will require you to be tough as nails, basically your company will put you to the test and will demand the best version of yourself every single day because as an entrepreneur you will get hammered no matter what, in fact you are going to get hammered or self hammered so many times althroughout that you will end up either folding or carrying on and the difference between both scenarios mostly will be determined by your ability to bring out the best version of yourself.
There are countless of examples of failures but also successful company’s stories out there and despite the humble beginnings or the issues they had to go through ultimately it was the set of skills learned by the entrepreneur and their teams throughout each situation faced which made them to pull it off. For instances Walmart was founded in a small town in Arkansas in 1962 and today employs 2.3M workers and back in the 70s already applied computerized systems to finetune their back of house processes, fearless for limitless!
Besides the day to day running of a business and its headaches company owners have to put up also with uncertainty stress doubts and concerns in order to make it across the finish line. Here again the leader’s ability to adapt to market circumstances will determine business success or failure, do you remember Blockbuster stores?
These days more than ever and given the ultra competitive and uncertain landscape of today´s business choppy waters through which business owners try to navigate, there is a concept that we believe is important to bring up which is the basics and the beginners mind, meaning that sometimes in order to succeed at your craft, whether you are a company owner SMEs or a skilled trade vendor, one must unlearn learn and relearn to better adapt to market shifts, in this post we will try to summarize how adaptation can turn your yourself into tough as nails,
Companies and businesses need to figure out global trends but also how to better promote themselves in order to stay visible within the market chaos, having a top notch and second to none service will not always cut it in order to outcompete other businesses, hence your tools at hand and marketing strategy need sharpening
No matter how big the company and business is as new arising market trends pose a true threat to all players within the market, this kind of strategic behaviour has to be onboarded by SMEs as every time more the market experiences shorter periods of time for consumer trend shifts now every 5 or 10 where it used to be back then every 10 to 20, that is why Company owners need to watch out for market beaviour as to course correct when needed,
This can be hard to understand especially for those older generations out there but even tech giants such as Google can somehow also get outperformed, let that statement sink in for a minute, according to recent market behaviour research consumers still use traditional engines to search but social platforms are raising (73%) , this clearly states that companies still relying on traditional search strategies alone are losing attention in a very fragmented business landscape.
Just think about the impact this could have for your company and business whether you are a business owner and a professional skilled trades vendor within the supply chain, relying on one single source is never a good idea which ever angle you look at it from,
As we know the marketplace is always on the move meaning that online discovering customs varies over time and seems like is trending towards social, so the question now is not how your business is ranking on Google but rather whether you are showing up at all where consumers are actually searching, in other words, are your customers able to track your service and company down to purchase it or are you losing business?
Your business coming up on searches in ChatGPT will be more important in the future as these platforms are becoming more like social platforms giving new experiences to attract younger generations especially for Gen Z, there is a raise of social and AI for searches acting now as search engines, these platforms are taking market share away from traditional search engines like Google and unless brands and companies change ways they now risk losing demand,
It is predicted that online search demand would drop 25% by 2026, as a company owner the takeaway is clear whether you are a professional service supplier a contractor or a company, you must evolve and stay discoverable in a reshaped digital landscape otherwise your business risks being invisible and untrusted.
The marketplace is uncertain at all levels as we have just seen in terms of consumers trends and raising costs in order to obtain greater margins, therefore SMEs and companies within the industry need to better equip themselves with innovations before reality hits the fan spreading chaos around, meaning that companies need to keep operating at its best enabling them to keep the pace up besides the market shifts in order to get that extra edge or what we call “the AI plan ready” since boosting margins and profitability for companies will always be a priority and mandatory to stay in business, technology is the sure bet,
As if market trends are not enough to put up with operating costs within the supply chain keep raising and more probably than not your company and business will feel it at a back of house stand point, stuff like plastic lids to food prices and stainless steel all the way to equipment and machinery global suppliers are tightening, and guess what, this time round it will not be that easy to pass costs onto end customers or cutting meal portions, these old formulas are worn out
Therefore all of this makes it a perfect storm for technology and AI to come into play from being optional to a life line supporting companies to navigate better their operational hardships and financial struggles, hence elevating the 21st century standards and business game for SMEs and professional service vendors companies,
The skilled trade vendors and company owners within the industry should not fall behind figuring out market insights and equipping themselves with tangible and real technology besides being good operators, for instances a restaurant is able to save 100K€ per location annually just by optimizing packaging and preparation data not through a consulting job but through pure technology tools for optimization,
Business owners and SMEs need to reflect on the fact that raising costs are imposed by central governments, Brussels for the EU or elsewhere, ultimately impacting daily operations with no warning whatsoever, costs raising in the shape of tax just shows up on your next invoice of whatever goods you purchase.
In this scenario for business and company owners the question is, will you be caught on or off guard when it comes down to properly handling your data? We basically propose this at Cevrapp, maintenance system that supports companies by streamlining back of house and internal operations enhancing market network consistency and solid performance.
It is easier said than done we know that, but in order to fully grasp platform technology and all its potential businessmen and women of the the 21st century industry would need to develop a scrappy mindset while focusing on real world use cases, for instances AI could help out a plumbing company generate faster and accurate quoting for customers by sharing existing data in order to generate newer quotes in no time
That is just one example of how innovations can be leveraged within the industry, so why do companies and SMEs need to pay attention to this?
Business owners should not get disconnected but manage their company with real-time visibility and agility which is what technology allows, we believe that the industry and the marketplace needs are pretty high and can be complex therefore company owners and contractors will have to adapt survive and thrive as customer expectations inotdays business world are now more critical than ever.
