Why Embracing Technological Change Is Vital To Business Growth

Strikes, Ideological misfits, “colossal mistakes”, and monumental cost savings are now part of our global thoroughfare in order to improve business efficiency.

The chaos that ensues when train companies strike is unfathomable.

However, as this becomes more frequent, Senior Operations have some sort of idea as to the crowd numbers to expect to get London moving.

What was the reason for those strikes?

London Underground wanted to streamline its operations and bring in ticket-less counters, predominately in a bid to save costs.

… with technological advances, it became possible.

Change isn’t nice, but it’s necessary to survive

To a lesser extent, a more recent strike by 12,000 black cabs in London over the Smart Phone app, ‘Uber’, caused widespread dissidence.

They argued that only they should have the right to utilise their meter, which is contrary to the appeal that the Uber App has to the Customer.

High street banks like Barclays and Lloyds became cashierless in a bid to resolve costs on its balance sheet.

With the improvements in its Software Security Systems, it has the weight to roll this out across all of its branches worldwide.

How quick has the smart phone come about?

Large scale businesses are doing the same.

Cost savings on telephone cabling, network, and use of telephones, bought about by placing trust on a cloud-based computer system to do exactly all of the above in less the time.

For example, enable effective use of files, computer sharing, conference calling and other services in one package.

If many larger companies are doing that, what about the growing industry sectors of other SME’s?

The internet is here to stay, and on a daily basis we are seeing improvements filter through to our personal and business lives by the bucketload.

Change is good – Love it, or Hate it

These changes are vital for our existence, not only from a financial point of view, but from a socio environmental stance, too.

It befits the overall cost and reduces time spent by getting the job done quicker.

What does it have to do with business growth?

Why should we move in these circles?

There is a shift in policy, Britain is still known for having an entrepreneurial mindset.

… Coming up with new ways of tackling technological knowhow problems.

Keeping up to date with changes in your market sector, together with exploring new ways of doing business, – would enable you to stay ahead of your competitors.

What kind of help?

There are so many Growth based companies, starting up and out, that the opportunity and funding available is endless.

… With substantial government funding available to Start-Ups, and with an established Mentor in tow.

It is essential for already established SME’s in other sectors to gain like-minded advice if they wish to look at their current operating costs and make adjustments to their Working Capital on their Balance Sheet.

Prepare to ride out the up’s and down’s posed to you by the ever changing economy.

With more and more new Start Up’s being introduced, it is critical that the correct kind of help is found.

Without the ability to grow, this would certainly spell disaster for your business.

Costly business in conclusion

If these pitfalls are not tackled at an early/or mid stage in a Business Lifecycle, then it could cost the Business a number of years, before regaining composure.

By which time, another Start-Up could well have overtaken you and your market share.

For the large scale businesses, think of the big high street casualties, such as HMV, Blockbuster, Comet and Jessop to name a few.

… They failed to take into the consideration the PEST test (Political, Economic, Social and Technological Test).

Reduce costs by introducing effective measures into your business.

This enables you to concentrate more on your primary product and/or service.

The world that we live in today is full of abundant facilities, and specifically for any SME owner, the knowhow into operating on the move is key,

Especially with the strong hold on mobile operating devices and salient details being made available to us at a touch of the button.

Being in touch with the tech apps of your market sector, and keeping abreast of developments would mean:

  • better growth
  • potentially more sales
  • and something to curb the debt book

To do the opposite will leading to failure and widespread damage to your business name and goodwill.