Unless you live under a rock or on the moon, you may have noticed that the way we do business has dramatically changed in the last decade or two. Little things like the end of the typewriter and the old fashion calculator might be more noticeable, but there are even bigger changes afoot for businesses of all sizes.
The digital revolution has brought us all closer to our customers, more accountable for our actions and in many ways a leaner meaner business model. While we many still have too many meetings, now we tend to have them with most of the attendees not even in the room. And while we may still have the hierarchy of department politics, the old idea of working in silos that never communicate with each other is slowly being eroded.
All of these changes are because of the net, the era of Big Data and most of all the instant nature of email. Whether you are in the business of selling swivel seal gadgets to the guys at Big Oil or lattes at the corner coffee shop, work and the nature of it has changed forever. Are you ready to reap the benefits of the changes coming?
The Pace is Picking Up
You may have noticed that decisions that used to mean calling endless meetings are now decided faster, and often with the data we have at hand. This is because we have more data, and more meaningful data, at hand almost all the time now. While it used to be that a good executive was one who weighed all the pros and cons before making up his or her mind, today it is all about speed.
Best of all, for those who take advantage of it, that speed includes having the information we need built into the products we sell or service. As this becomes more and more the norm, expect to see this kind of change grow exponentially. After all, that is how technology tends to grow, not linearly but in huge leaps and bounds. We will learn to grow business that way as well as we bring the new technology into our offices.
Bigger is no Longer Better
Have you noticed that the really huge businesses of yesterday are not the prime movers and shakers of today’s business world? This is because scale is no longer the only way we measure a business, and scaling up is not the goal of every company.
Technology has evened the playing field in many industries, though not in all of them. But by and large the businesses that look to succeed in the next generation or two know that being nimble is more important than being big.
The Knowledge Economy
There was a time when everything came from the top on down. That has been turned on its head as many businesses realize that the young employees walking in the door may have the skills that the executives who hired them don’t even understand. Yes, the lunatics are indeed running the asylum and they may even be doing a great job of it.
As we move more and more into an economy that values new ideas and innovative thinking, expect to see businesses that encourage this survive and even thrive. If you aren’t running your business this way, what is stopping you? It is time to leave that box, think outside of it and find your own definition of business as usual.