There are so many risks and dangers present in the workplace. As the owner of the company, it’s up to you to minimise them. It’s so easy to just coast along and tell yourself that everything’s fine and dandy. But sooner or later, your lack of safety precautions will catch up with you, and those risks will start to have a real impact on your employees and your business. Here are some great ways in which you can reduce the risks in your workplace right now.
Have Someone Oversee Safety Practices Each Day
Rather than leaving safety and security responsibilities up to each person as they carry out their work, why not hire a person to oversee all of those safety practices? They will then be solely responsible for all of the safety issues in the workplace. It will take a load off the mind of your other employees, and you will know exactly who to go to when there is a safety problem. Each day, they will be able to focus on this and nothing else. Although it will mean spending a bit more money on staffing, it’s something that could really be worthwhile.
If there is any potentially dangerous machinery in your workplace, you should ensure there is a clear set of rules in place for using it. Everyone should know exactly what to do and what not to do when they are using machinery that poses them a threat. They should be kitted out with the right personal protective equipment. And you can even get lanyards for dangerous roles. These snap off easily so that they don’t get caught in any machinery that is being used by an employee. Make the rules readily available, and offer extra training too if necessary.
Clear the Floor
The floor is where the majority of the dangers lie in waiting in the workplace. Many people don’t take blocked walkways and cluttered floor space anywhere nearly as seriously as they should. If you want to make sure that the floor is clear at all times, survey it each week and look for things that could be hazardous. For example, things shouldn’t be stacked up too high near to where people do their work. When that’s the case, a fall could result in someone getting hurt. And fire escapes definitely need to be kept 100% clear at all times.
This is a good general rule to follow when it comes to safety in the workplace. When you are reactive rather than proactive, you will end up not taking extra steps to improve safety until you’re prompted to by something going wrong. That’s far from the ideal situation to be in because it means that you didn’t take risks as seriously as you should have done in the first place. Assess your workplace and carry out risk assessments to spot problems before, not after, they result in someone getting hurt. It’s a sensible and safe approach to take.
https://www.strategydriven.com/wp-content/uploads/WorkerSafety.jpg8001200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2017-03-12 11:00:422017-03-12 12:29:53Reduce the Risks in Your Workplace Right Now
A lot of modern transactions don’t involve physical money at all. Instead, they rely on bank transfers. These transfers are usually started with a bank card and a clever system that contacts the bank. It’s not quite as easy as it sounds, though. And, a lot of companies go wrong here. The results of which can be devastating for a business. So, it’s important to make sure that you’re doing these things correctly. And, with customers in mind. To help you out, this post will be going through some of the options you have available.
Even in stores, most transactions are handled using bank cards, nowadays. This means that shops have to have the capacity to complete hundreds of transactions each day. Usually, a subscription service is used. The shop will pay a set amount on each transaction. And, they will get to use the card machines and software that they need for free. Sometimes, it’s best to go a little bit bigger, though. Nowadays, you can find similar services that provide you with a whole till system. These systems are usually much more than most small businesses could afford by themselves. And, it could dramatically change your business. A TallySoft point of sale system is great to make sure that your payments are handled securely. And, that they’re made quickly and effortlessly. You customers will notice the new tech you have around.
All of the transactions that your business handles online will be bank transfers of sorts. This means that you have to have a system in place to deal with this. When it comes to ecommerce, you have loads more available. Services like PayPal will allow you to sell your products through their service. You just have to make a product button with them, and add it to your website. Some sites need greater control, though. And, will want to have things like baskets for their customers to use. A full CMS system would be required for this. There are loads of options out there for services like this. You just have to look at some reviews to find the best one that suits your needs.
When you take money from people on a website, you have to think about security. Most of the payment systems out there will make sure that your website is secured with SSL. An SSL certificate encrypts the data being sent, received, and moved around your site. This makes it much harder for criminals to access the data. Along with this, you also need to secure the forms that send data. Doing this will require some programming, though. So, you might need the help of a developer to get this done. Always make sure that your website is using the latest security standards. And, that you perform regular virus checks on your server system.
Hopefully, this will give you a good idea of what needs to be done to take money from your customers. It’s hard to make sure that you’re using the right services for these tasks. So, make sure that you do plenty of research and fact checking before you choose your methods.
https://www.strategydriven.com/wp-content/uploads/iStock_000048673554_XXXLarge-1.jpg45006500StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2017-03-11 11:00:162017-12-27 16:15:30Taking Your Customer’s Money
There are a million and one brilliant ways to market your business online, and hopefully you’re already implementing these ideas into your marketing strategy. But your business is about more than just its online presence: there are people behind your digital space: you’re real people, doing real things, and there’s no reason to stay hidden in the shadows. Instead, you can put the human factor of your business right front and centre for people to see. There’s no better way to do that to host your own company event for customers or potential partners, which are brilliant for strengthening your customer relations, showing off what you’re all about, and sure – it’s also about having fun.
Of course, it’s all good and well throwing a party with live music and drinks, but alas, there’s work to be done here. You’re hosting an event for a reason, not just because it’s a fun way to spend an evening. It’ll be up to you to determine what this reason is. Are you looking to bring more people on board, or get to more business from your existing customers? Perhaps you just want to get your name out there and promote your brand. Whatever it is, have at the forefront of your mind when it comes to the ideas stage.
The Space
Where you host the event will depend on your end objective, and also how good your headquarters are. If your offices are more functional than stylish, then it’s probably better to hire out a space specifically for the event. Where this is exactly will depend on your budget, but it should be generally be somewhere pretty swanky that’s close to your business and in the neighborhood of the businesses you’d like to be associated with.
Setting the Tone
Every inch of the event will be showcasing who you are, so make sure it’s all well thought out and done properly. Look at a café services company that goes beyond what’s expected from the catering at an event: your offerings should be creative, fresh, impressive. The same goes for the decor: you want a wow factor when people walk through the door. Have custom made decorations tastefully incorporated into the space so that there’s no doubt which company has brought this magnificent event to fruition.
The Exclusive Guest List
Your event should have a degree of exclusivity. You don’t want just anybody walking in off the street and attending, so make sure you have a well curated guest list. Who you will invite will depend on the goals of the evening: they may be big order customers, companies you’d like to partner with, or invitations to a corporate sector you want to make connections with.
The Aftermath
A toast to a great evening! And now the work really begins. For the night to be a success, you need to follow up on the momentum of the evening and make sure the goals you had for the evening are achieved. Don’t let your hard work all go to waste!
https://www.strategydriven.com/wp-content/uploads/Party.jpg8471280StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2017-03-10 11:00:172017-03-09 23:14:26Showcase Your Company: Hosting Events
Physical stores can be the flagship of any company – they prove a vital face to face aspect where customers can engage with employees about what products or services your business can offer them, which will benefit them, and a physical store also provides a really important visual commodity which can influence the reputation of your business. A lot of people still prefer to shop in physical stores, as they can immediately see the product or the benefits of a service that they require, rather than reading about it online and reading about what fellow customers think about the product or service a business has offered them. When shopping online, customers can sometimes feel that they may not be getting the full potential of what they are looking for within a business, but when they head to a physical store, they can speak to the employees of the business, and develop a good understanding of what it is they are after.
However, to be able to maintain a good physical presence of a store, a business owner will need to take the time to develop various aspects which will benefit the business, and will need to maintain aspects which are necessary. These can include: the exterior presence of the store (a shabby, old looking store front is not likely to attract as many customers as a contemporary, stylish store front), the branding (branding is essential when attracting customers – without branding there is no business), the interior of the store (when customers enter, they want to feel like they are welcome, and the majority of customers will want to see the best, most exciting products or services that you offer as soon as they enter the store). Don’t neglect these aspects of your business.
So, with this in mind, a business owner will need to dedicate time to allow their physical store to flourish to its full potential. With the exterior, it is surprising what a brand new lick of paint can do to the appearance of a store. Neutral or bright colors are almost always the best choice, rather than dull, bland and dark colours. Pick a color which also could represent the personality of your business. With branding, ensure that the name of your business can be clearly seen by members of the public as they pass by – avoid intricate fonts which could be hard to read. With the interior, make sure that it is modern and accessible to everyone. You should avoid saving money on old cash register machines as they are more likely to develop faults than newer systems. A point of sale payment processing systems could be more beneficial to the business – and customers will also be able to see how much effort and time you have taken to make their time at the store as easy and smooth as possible!
With a physical store, ensure you – as a business owner – dedicate the right amount of time to allowing your store to reach its full potential. Put the work in and you will reap the benefits.
https://www.strategydriven.com/wp-content/uploads/WomensStore.jpeg27614000StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2017-03-08 11:00:232017-12-27 15:58:31Allow Your Physical Store To Flourish
Try as you might, you will never really “own” your business. It is too much part of a bigger network that is too far beyond your control for that. While there might be plenty of directions you want to take your company in, you’ll also be subject to the whims and plans of your fellow humans, who all too often (it can feel like) have plans that are out of sync with your own. Here are just a few of the ways your business can be affected by external factors, to which you only have a passing, observing role.
Political
A thriving economy relies on there being not too many things rocking the boat. You can see the way the stock market reacts whenever an announcement or decision is made; sometimes it gets a boost, which is its way of saying ‘we approve!’, and sometimes it takes a nosedive, at which point everything gets a bit nervous. With Donald Trump, for instance, no one – including quite possibly Donald Trump – is quite sure which way the economy will go. That one is just for time to figure out, but down the line it could have a knock on effect to your business. A good economy means you’re in the best possible position to succeed. Also, you’ll notice how things can get a bit twitchy whenever there’s political unrest, more commonly when it’s overseas. A destabilised China, for instance, can have effects that spread across the world, such is the way all our economies are interlinked.
Your Business Partners
It’s all good and well keeping your own house in order. It’s all good and well operating at full capacity, with the books in order and things slowly progressing just fine and dandy. But how many other businesses do you rely on for your success? You’re probably more wrapped up in the well-being of other companies than you think. For instance, how does the software you rely on influence your success? You might want to look at a service such as software escrow, which would give you access to the software you depend on should the software company fold. Elsewhere, you could face major difficulties if your suppliers unexpectedly fold. You can’t stop that from happening, but you can make sure you have the contingency plans in place so that you’re able to handle any temporary setbacks relating to stock and so forth. Essentially, it’s important not to be too reliant on any other single company.
Trends
You’re at the top of your game at the moment, right on the cutting edge of what’s new and fresh. You’re part of a movement that is going places! Only, it’ll only be going places up until the time when it’s not. Take a look through history and everything that was once ‘hot’ ended up being pretty ‘not’ in the end. You only need to look at what passed as fashion twenty (or any number) years ago to see that things really do change. Did the people wearing the clothes back then think they’d one day look so lame? Of course not! Did Blockbuster think there would always be a demand for home videos? Probably! Trends come and go. The important thing is to realise that ‘trendy’ doesn’t really mean anything, and that you shouldn’t be relying on it for your success. Always make sure you’re looking to the future, especially if the industry you’re in is prone to change.
External Innovation: Good
Not every external factor is bad, of course. In fact, all the ones listed above can be good if the cards fall nicely enough. This positive change also extends to innovation, which as we all know is essentially what’s making the economy thrive in recent years. And it looks like it’s here to stay. Innovation is creating new markets, new products, new services, new just about everything, and it’s happening all the time. Every year, there are new services that help to streamline businesses and make them less dependent on other factors. You should be keeping your ear out for the developments that will aid your business. Everybody else will, and to not do so you run the risk of falling behind. Make sure you’re reading up on all the best business online blogs and reading your industry magazines; it’ll keep you fresh.
External Innovation: Bad
With that being said, not all innovation will be there to give you a boost. In fact, sometimes it’ll come along and put you right out of business. This has been happening for centuries, with new products popping up that resulted in massive shifts in the economy. We see it today, with Uber versus traditional taxi companies. No matter who you are and how successful your business is, you should always be ready to face oblivion. It’s the way innovation works. If you’re worried about an emerging company or trend, then look at diversifying your business – but do it well in advance. The number of jobs that may be lost – and industries taken of – by robots in the coming decades should be an eyeopener for many business leaders.
Environmental Factors
Sometimes, the factors that affect your business has nothing at all to do with other humans. It’s all about that grand old mother earth, our home. We think we know a lot about the environment, but we don’t – and unfortunately, we’re about to know a whole lot less once climate change really gets underway. A changing climate will affect a lot, from how things are produced (if they’re able to be at all) and how they get around the world. It’ll also bring more extreme weather, so making sure you have business insurance and cloud storage will be essential.
Predicting The Changes
You don’t know what will happen in the world, because no one does. But you can be prepared by keeping on top of global events – not just what’s happening in your industry, but in all the industries that branch out from your own too. We’re all connected in the end!
https://www.strategydriven.com/wp-content/uploads/LIghtening.jpg8531280StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2017-03-04 11:00:332017-12-23 16:49:53The External Factors Affecting Your Business
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Business Programs
Reduce the Risks in Your Workplace Right Now
/in Human Performance Management, Tactical Execution/by StrategyDrivenThere are so many risks and dangers present in the workplace. As the owner of the company, it’s up to you to minimise them. It’s so easy to just coast along and tell yourself that everything’s fine and dandy. But sooner or later, your lack of safety precautions will catch up with you, and those risks will start to have a real impact on your employees and your business. Here are some great ways in which you can reduce the risks in your workplace right now.
Have Someone Oversee Safety Practices Each Day
Rather than leaving safety and security responsibilities up to each person as they carry out their work, why not hire a person to oversee all of those safety practices? They will then be solely responsible for all of the safety issues in the workplace. It will take a load off the mind of your other employees, and you will know exactly who to go to when there is a safety problem. Each day, they will be able to focus on this and nothing else. Although it will mean spending a bit more money on staffing, it’s something that could really be worthwhile.
Photo courtesy of Wikimedia
Set Rules for the Use of Any Dangerous Machinery
If there is any potentially dangerous machinery in your workplace, you should ensure there is a clear set of rules in place for using it. Everyone should know exactly what to do and what not to do when they are using machinery that poses them a threat. They should be kitted out with the right personal protective equipment. And you can even get lanyards for dangerous roles. These snap off easily so that they don’t get caught in any machinery that is being used by an employee. Make the rules readily available, and offer extra training too if necessary.
Clear the Floor
The floor is where the majority of the dangers lie in waiting in the workplace. Many people don’t take blocked walkways and cluttered floor space anywhere nearly as seriously as they should. If you want to make sure that the floor is clear at all times, survey it each week and look for things that could be hazardous. For example, things shouldn’t be stacked up too high near to where people do their work. When that’s the case, a fall could result in someone getting hurt. And fire escapes definitely need to be kept 100% clear at all times.
Photo courtesy of Jeff Wilcox via flickr
Be Proactive, Not Reactive
This is a good general rule to follow when it comes to safety in the workplace. When you are reactive rather than proactive, you will end up not taking extra steps to improve safety until you’re prompted to by something going wrong. That’s far from the ideal situation to be in because it means that you didn’t take risks as seriously as you should have done in the first place. Assess your workplace and carry out risk assessments to spot problems before, not after, they result in someone getting hurt. It’s a sensible and safe approach to take.
Taking Your Customer’s Money
/in Entrepreneurship/by StrategyDrivenA lot of modern transactions don’t involve physical money at all. Instead, they rely on bank transfers. These transfers are usually started with a bank card and a clever system that contacts the bank. It’s not quite as easy as it sounds, though. And, a lot of companies go wrong here. The results of which can be devastating for a business. So, it’s important to make sure that you’re doing these things correctly. And, with customers in mind. To help you out, this post will be going through some of the options you have available.
Even in stores, most transactions are handled using bank cards, nowadays. This means that shops have to have the capacity to complete hundreds of transactions each day. Usually, a subscription service is used. The shop will pay a set amount on each transaction. And, they will get to use the card machines and software that they need for free. Sometimes, it’s best to go a little bit bigger, though. Nowadays, you can find similar services that provide you with a whole till system. These systems are usually much more than most small businesses could afford by themselves. And, it could dramatically change your business. A TallySoft point of sale system is great to make sure that your payments are handled securely. And, that they’re made quickly and effortlessly. You customers will notice the new tech you have around.
All of the transactions that your business handles online will be bank transfers of sorts. This means that you have to have a system in place to deal with this. When it comes to ecommerce, you have loads more available. Services like PayPal will allow you to sell your products through their service. You just have to make a product button with them, and add it to your website. Some sites need greater control, though. And, will want to have things like baskets for their customers to use. A full CMS system would be required for this. There are loads of options out there for services like this. You just have to look at some reviews to find the best one that suits your needs.
When you take money from people on a website, you have to think about security. Most of the payment systems out there will make sure that your website is secured with SSL. An SSL certificate encrypts the data being sent, received, and moved around your site. This makes it much harder for criminals to access the data. Along with this, you also need to secure the forms that send data. Doing this will require some programming, though. So, you might need the help of a developer to get this done. Always make sure that your website is using the latest security standards. And, that you perform regular virus checks on your server system.
Hopefully, this will give you a good idea of what needs to be done to take money from your customers. It’s hard to make sure that you’re using the right services for these tasks. So, make sure that you do plenty of research and fact checking before you choose your methods.
Showcase Your Company: Hosting Events
/in Marketing & Sales/by StrategyDrivenThere are a million and one brilliant ways to market your business online, and hopefully you’re already implementing these ideas into your marketing strategy. But your business is about more than just its online presence: there are people behind your digital space: you’re real people, doing real things, and there’s no reason to stay hidden in the shadows. Instead, you can put the human factor of your business right front and centre for people to see. There’s no better way to do that to host your own company event for customers or potential partners, which are brilliant for strengthening your customer relations, showing off what you’re all about, and sure – it’s also about having fun.
Photo courtesy of Pexels
More Than Just a Party
Of course, it’s all good and well throwing a party with live music and drinks, but alas, there’s work to be done here. You’re hosting an event for a reason, not just because it’s a fun way to spend an evening. It’ll be up to you to determine what this reason is. Are you looking to bring more people on board, or get to more business from your existing customers? Perhaps you just want to get your name out there and promote your brand. Whatever it is, have at the forefront of your mind when it comes to the ideas stage.
The Space
Where you host the event will depend on your end objective, and also how good your headquarters are. If your offices are more functional than stylish, then it’s probably better to hire out a space specifically for the event. Where this is exactly will depend on your budget, but it should be generally be somewhere pretty swanky that’s close to your business and in the neighborhood of the businesses you’d like to be associated with.
Setting the Tone
Every inch of the event will be showcasing who you are, so make sure it’s all well thought out and done properly. Look at a café services company that goes beyond what’s expected from the catering at an event: your offerings should be creative, fresh, impressive. The same goes for the decor: you want a wow factor when people walk through the door. Have custom made decorations tastefully incorporated into the space so that there’s no doubt which company has brought this magnificent event to fruition.
The Exclusive Guest List
Your event should have a degree of exclusivity. You don’t want just anybody walking in off the street and attending, so make sure you have a well curated guest list. Who you will invite will depend on the goals of the evening: they may be big order customers, companies you’d like to partner with, or invitations to a corporate sector you want to make connections with.
The Aftermath
A toast to a great evening! And now the work really begins. For the night to be a success, you need to follow up on the momentum of the evening and make sure the goals you had for the evening are achieved. Don’t let your hard work all go to waste!
Allow Your Physical Store To Flourish
/in Entrepreneurship/by StrategyDrivenPhysical stores can be the flagship of any company – they prove a vital face to face aspect where customers can engage with employees about what products or services your business can offer them, which will benefit them, and a physical store also provides a really important visual commodity which can influence the reputation of your business. A lot of people still prefer to shop in physical stores, as they can immediately see the product or the benefits of a service that they require, rather than reading about it online and reading about what fellow customers think about the product or service a business has offered them. When shopping online, customers can sometimes feel that they may not be getting the full potential of what they are looking for within a business, but when they head to a physical store, they can speak to the employees of the business, and develop a good understanding of what it is they are after.
However, to be able to maintain a good physical presence of a store, a business owner will need to take the time to develop various aspects which will benefit the business, and will need to maintain aspects which are necessary. These can include: the exterior presence of the store (a shabby, old looking store front is not likely to attract as many customers as a contemporary, stylish store front), the branding (branding is essential when attracting customers – without branding there is no business), the interior of the store (when customers enter, they want to feel like they are welcome, and the majority of customers will want to see the best, most exciting products or services that you offer as soon as they enter the store). Don’t neglect these aspects of your business.
Photo courtesy of Pexels
So, with this in mind, a business owner will need to dedicate time to allow their physical store to flourish to its full potential. With the exterior, it is surprising what a brand new lick of paint can do to the appearance of a store. Neutral or bright colors are almost always the best choice, rather than dull, bland and dark colours. Pick a color which also could represent the personality of your business. With branding, ensure that the name of your business can be clearly seen by members of the public as they pass by – avoid intricate fonts which could be hard to read. With the interior, make sure that it is modern and accessible to everyone. You should avoid saving money on old cash register machines as they are more likely to develop faults than newer systems. A point of sale payment processing systems could be more beneficial to the business – and customers will also be able to see how much effort and time you have taken to make their time at the store as easy and smooth as possible!
With a physical store, ensure you – as a business owner – dedicate the right amount of time to allowing your store to reach its full potential. Put the work in and you will reap the benefits.
The External Factors Affecting Your Business
/in Budget Management, Entrepreneurship, Innovation/by StrategyDrivenTry as you might, you will never really “own” your business. It is too much part of a bigger network that is too far beyond your control for that. While there might be plenty of directions you want to take your company in, you’ll also be subject to the whims and plans of your fellow humans, who all too often (it can feel like) have plans that are out of sync with your own. Here are just a few of the ways your business can be affected by external factors, to which you only have a passing, observing role.
Photo courtesy of Pexels
Political
A thriving economy relies on there being not too many things rocking the boat. You can see the way the stock market reacts whenever an announcement or decision is made; sometimes it gets a boost, which is its way of saying ‘we approve!’, and sometimes it takes a nosedive, at which point everything gets a bit nervous. With Donald Trump, for instance, no one – including quite possibly Donald Trump – is quite sure which way the economy will go. That one is just for time to figure out, but down the line it could have a knock on effect to your business. A good economy means you’re in the best possible position to succeed. Also, you’ll notice how things can get a bit twitchy whenever there’s political unrest, more commonly when it’s overseas. A destabilised China, for instance, can have effects that spread across the world, such is the way all our economies are interlinked.
Your Business Partners
It’s all good and well keeping your own house in order. It’s all good and well operating at full capacity, with the books in order and things slowly progressing just fine and dandy. But how many other businesses do you rely on for your success? You’re probably more wrapped up in the well-being of other companies than you think. For instance, how does the software you rely on influence your success? You might want to look at a service such as software escrow, which would give you access to the software you depend on should the software company fold. Elsewhere, you could face major difficulties if your suppliers unexpectedly fold. You can’t stop that from happening, but you can make sure you have the contingency plans in place so that you’re able to handle any temporary setbacks relating to stock and so forth. Essentially, it’s important not to be too reliant on any other single company.
Trends
You’re at the top of your game at the moment, right on the cutting edge of what’s new and fresh. You’re part of a movement that is going places! Only, it’ll only be going places up until the time when it’s not. Take a look through history and everything that was once ‘hot’ ended up being pretty ‘not’ in the end. You only need to look at what passed as fashion twenty (or any number) years ago to see that things really do change. Did the people wearing the clothes back then think they’d one day look so lame? Of course not! Did Blockbuster think there would always be a demand for home videos? Probably! Trends come and go. The important thing is to realise that ‘trendy’ doesn’t really mean anything, and that you shouldn’t be relying on it for your success. Always make sure you’re looking to the future, especially if the industry you’re in is prone to change.
External Innovation: Good
Not every external factor is bad, of course. In fact, all the ones listed above can be good if the cards fall nicely enough. This positive change also extends to innovation, which as we all know is essentially what’s making the economy thrive in recent years. And it looks like it’s here to stay. Innovation is creating new markets, new products, new services, new just about everything, and it’s happening all the time. Every year, there are new services that help to streamline businesses and make them less dependent on other factors. You should be keeping your ear out for the developments that will aid your business. Everybody else will, and to not do so you run the risk of falling behind. Make sure you’re reading up on all the best business online blogs and reading your industry magazines; it’ll keep you fresh.
External Innovation: Bad
With that being said, not all innovation will be there to give you a boost. In fact, sometimes it’ll come along and put you right out of business. This has been happening for centuries, with new products popping up that resulted in massive shifts in the economy. We see it today, with Uber versus traditional taxi companies. No matter who you are and how successful your business is, you should always be ready to face oblivion. It’s the way innovation works. If you’re worried about an emerging company or trend, then look at diversifying your business – but do it well in advance. The number of jobs that may be lost – and industries taken of – by robots in the coming decades should be an eyeopener for many business leaders.
Environmental Factors
Sometimes, the factors that affect your business has nothing at all to do with other humans. It’s all about that grand old mother earth, our home. We think we know a lot about the environment, but we don’t – and unfortunately, we’re about to know a whole lot less once climate change really gets underway. A changing climate will affect a lot, from how things are produced (if they’re able to be at all) and how they get around the world. It’ll also bring more extreme weather, so making sure you have business insurance and cloud storage will be essential.
Predicting The Changes
You don’t know what will happen in the world, because no one does. But you can be prepared by keeping on top of global events – not just what’s happening in your industry, but in all the industries that branch out from your own too. We’re all connected in the end!