Thought of the Day: June 12, 2018 – Modifying Business Behaviour
Can modifying business behaviour really give you the results you’re looking for as a business owner or employee of a company?
How will you change and stay at the top of our profession?
If you do not understand business, technology and what your customer wants, you will get left behind. You can go from being the leader in your industry to closing your business and becoming obsolete, overnight!
As a business owner it is important to know what your competition is doing. Are they on a hiring or firing spree? How are they expanding their market? Are they launching new products and services? How are they dealing with change in the market?
Rather, you should also consider, how you are dealing with change in the market. Are you the innovator or are you just following market trends? What are you doing to see continued growth in the market?
As the work environment changes are you also changing? What does your online presence look like? How much business is create online vs traditional methods? What is the fastest growing product you have? Who is your buyer? What shifts are taking place in the market?
Answering these questions is important if you are looking to gain a competitive edge over your competition.
Did you know the government, not just the one in your country, makes it hard for you to get your goods and services to market. With new laws, rules and regulations, taxes and duties it costs a lot to stay in business.
If your business is losing money you may consider corporate restructuring. But it is also a good idea to modify business behaviour when you are looking to gain market share, cut costs or rebrand.
With billions of dollars begin spend online, it is a good idea to re-evaluate who you have in each department of your business. What value do they bring to the team.
Today, many jobs are out sourced to countries that have cheaper labour and an educated work force. For employees of a company competing for jobs is becoming your biggest challenge.
As the employees of a company you might be the best at what you do. Keep in mind there is always someone smarter, more eager and capable of completing your tasks. This person is willing to work for a little less money, sometimes to get a foot in the door.
Modifying business behaviour for the employee means you keep up with changes in the market. You read books, attend seminars and take courses to know everything you can to be the best at what you do. You build value in you.
A smart employee learns the competition and networks when possible. A smart employee understands the competition is not just companies you sell against in the market but its people who work similar positions.
What are you doing to stand apart from your co-workers?
In this ever-changing world where products and services can be obtained at a click of a button, we need to find ways to stay ahead of the competition.
The norms of 10 years ago are not the norms of today. The norms of today will not be the norms of the future.
How are you modifying business behaviour? The actions you take based on how you answer this question will determine your success.
Founder and CEO, Discover Your Life Today
Maveen has built his career in Banking, Insurance, Home and Automobile Sales. Providing exceptional customer service is his passion. Writing is a way to share his knowledge and help change the lives of million of people. Like the Facebook Page to support him.