As we enter the New Year, we're surrounded by the classic, clichéd 'new year, new you' sentiment. Which we all know never lasts past the third week of January. But as a business owner, sole-trader or entrepreneur, have you ever considered updating your business practises? Reinventing your company? There are many ways that reinventing your business and ensuring that you stay relevant and up to date in your practises can help move things forward, but sometimes it can seem like more of a time waster than a time saver. If that's you on the back foot, why not take a look at how a quick reflection and evaluation could make you more productive than ever.
1. Markets are evolving and changing at a faster rate than ever before, and keeping up could be the difference between surviving and flourishing, or even failing and surviving.
Ever wondered why that thing you were doing really well four years ago isn't working, even though you're doing exactly the same thing? Your answer might well be in the question. You're doing exactly the same thing! As technology infiltrates our worlds now, more than ever before, your market's expectations and therefore their experiences with your product or service are automatically altered. How did Nokia lose what was almost a monopoly in the mobile phone market? They didn't innovate. And when they did, they didn't innovate fast enough.
The New Year is a great time to relook your direction, and the tools you use to achieve it. After a break and some time to recuperate, it can be far simpler to look objectively at what you've been doing, and how you're responding to your market, and then implement change as necessary.
2. New technology exists, and that tech could be the key to improving your business model.
You know that thing that you have to do a certain way, because there are simply no other options? More often than not, other businesses are experiencing the same difficulties, and somewhere along the line, someone with great talent (and most probably out of a little desperation) will create a tool that solves this problem. Search the industry, talk to people and share your hindrances. You never know what tools are out there till you look!
3. It will give the media, your followers and other business something to talk about.
So you've got the new strategy down pat? Now it's time to share it with the world. This is a great way to get a little free positive publicity for your organisation. Designing a communication strategy that shows potential customers or clients why you're working to improve their experience will give you immediate brownie points, and hopefully score you a little extra business.
4. Your staff will thank you.
Change is as good as a holiday, and holidays improve productivity and efficiency. The equation seems simple, right? Ensuring that any staff you employ are doing work that they deem is meaningful and worthy will foster a positive and productive workplace culture.
HOT TIP: Don't just make changes for the sake of making changes or proving that you're 'innovative'. If you're changes aren't strategic, they won't help business!
The team at Musitec wish you a very happy new year, and look forward to helping you rejuvenate and reinvent!