Connect with us

Management

Asset Not Liability: How To Keep a Business Dynamic For Years

Running a business is very challenging. There’s so much to think about, from priorities, consequences, profits, and economic recessions and depression. These challenges will cause detours to your success as an entrepreneur. The U.S. Bureau of Labor Statistics asserted that approximately 50% of all businesses survive for only five years or more. In fact, only one-third of businesses last for over a decade. Therefore, about half of firms failed due to a weak customer base, business model, and cash reserves.

graph

Running a business is very challenging. There’s so much to think about, from priorities, consequences, profits, and economic recessions and depression. These challenges will cause detours to your success as an entrepreneur.

The U.S. Bureau of Labor Statistics asserted that approximately 50% of all businesses survive for only five years or more. In fact, only one-third of businesses last for over a decade. Therefore, about half of firms failed due to a weak customer base, business model, and cash reserves.

It’s a sad story, but as an entrepreneur, you have to maximize every opportunity, good or bad, to succeed and make your business dynamic for years. The world of business is tough. The competition rises day by day. As years pass by, instead of making it your asset, it can be a liability to the future holder of the business.

If you are not prepared to take leverage with every means then it can be a problem for you. Anytime you could lose it. To prevent future losses and challenges, a smart businessperson must always find a chance to enhance business tactics during hard times.

What must be the secret of successful business firms? Here are the ways to keep your business running for years as you make an asset not a liability over it.

Capitalize business potentials

It is critical for a marketer to be smart and wise in capitalizing business potentials to prevent the business from failing. Technological advancements are there for a reason. Don’t waste possibilities. Despite your good company offers, if the promotion is not good, you can never attract clients. You have to remember that customers keep the business alive too.

Whether it’s print, digital or video advertising, keep attention to business functions that can use the best out of your money. Spending your money on automation software or cloud-based apps is not a bad idea. You can utilize the advantage of graphic designs to create an impact on clients.

According to John Maeda, a design partner at Kleiner Perkins Caufield & Byers, becoming a design-led company is the solution to a business problem. Investing in good graphics is a good way to keep business dynamic. It will make your brand unforgettable.

Use internet advantage

The modern world can be very advantageous in growing entrepreneurship. If you want an exposure of your business, the Internet can help. Modern-day entrepreneurs also focus on the opportunities that this avenue offers.

The Internet can help you simplify administrative functions, grow marketing labors, and promote selling policies. Online marketing efforts such as search engine optimization, e-marketing, and keywords can help your business or brand to be known.

If you want to promote your printing business on the web, you can use content strategy. Just like for example, you can stuff keyword like ‘order cheap business cards’ on a blog post, where readership is highest. Given a chance, many people will recognize your business. You can also improve the business presence through social media.

To support this idea, according to Content Marketing Institute, B2B marketers set aside 28% of their marketing budget for this technique because of its capability to attract customers.

Value Your Customers

As a marketer, you have to appreciate your customer. Think of them as they are the water to a river that you owned. It’s like water that keeps the river from flowing. Without them, business is not rolling. Clients also undergo tough situation, so valuing them is a must.

Executing measures like customer loyalty card, referral incentives, or one-time price reduction will give you a chance to channel your appreciation for them. You may think that it can be costly but keeping it within the advertising budget is an option. At the very least, it must be valuable to clients in compromising your budget.

Regularly evaluate strategy

Business strategies are sometimes not effective. If you find a tactic ineffective, then it’s time to make a proper step to switch to another. It is a waste of resources if you keep on dwelling on things that don’t give the best result. If your strategy is attracting clients through business cards, you have to ensure that it gives an impression. Otherwise, it will not give you deliberate effect.

According to a survey conducted by www.statisticbrain.com, 72% of the respondents judge a person by the quality of business cards that he or she gives. A business card doesn’t need to be expensive just to create lasting impact. You can still print cheap business cards without sacrificing the quality.

In the marketing context, you have to be familiar with what works best and what does not. Knowing this fact can help you adjust your strategy and make it better.

Amplify customer base

When you capitalize your business potentials and make use of Internet, you can already develop and amplify a customer base. Rather than banking on the traditional ways all the time, you can use unorthodox opportunities to attract clients.

You can scrutinize the new methods to gain a population of customers. Defy the reachable and grasp the lifestyle interest and income group that can use your service or product. If you start doing this, you can boost client base and have great success in the key market.

Be budget-cognizant

One of the reasons why a business fails is because of poor financial management. Being in the business industry means you have to be careful in handling revenues. It is vital to be economical in launching projects. At the same time, you have to be aware of everything while operating the expenses.

Let’s take this as an example. In your printing business, the materials used are of high quality, but you are not taking good care of it. In a short period, you replaced another one which is more expensive thinking that it will be better. But in the end,  you bought something less for a handful of a price.

Handling it requires great consideration. Every expense you spend needs intensive care and wise decision. Keeping track of expenditure and supervising the inventories are very helpful in this aspect.

Establish staffing method

At a stage of the recession, a company tends to suspend workers as their choice of keeping the business forward. But there are other options to try. You can reduce working hours and bring the motivational appeal to your staff members. With this, dwindle expenses while continuing to generate your business.

If you create a good staffing plan, you will not worry during rough times because you already covered the labor needs.

Enhance distribution and customer service

Keeping the company active in this element will build a stronger connection with clients. If you also concentrate on giving excellent customer service and enhancing distribution, it will increase sales for the betterment of the company. Market strategists use the cross-selling system to assist their sale force.

By employing procedures, customer service goes over and further. You can also build allocation procedures so you can circulate the services and products. Richard Branson, the founder of the Virgin Group, stated that “Once you’ve established a loyal base of users, your business will soar.”

As much as possible, exceed your client’s expectations. When you do this, you can now build trust that will transform customers into real-life brand ambassadors. They will share their experience with the product and services offered to others. Testimony from a fellow client is a sure-fire way to gain more and more customer.

Modify pricing strategies

There are a lot of factors that can influence the revenue potential of the business, but pricing strategy is one of the most important. Companies modify their pricing strategy to flourish stable financial system. Depending on your business’s fiscal position, you also need to work on pricing policies at which you can maximize profits from product and service sales.

But setting prices is not an easy task. You need to study the wide range of factors like production and distribution cost, customer base, competitors, and positioning tactics.

Focus on the business limelight

Some businesses with divided areas have a hard time focusing during downfalls. If you have a hard time figuring out on what you need to do with your diverse business, maybe it’s the time to reorganize the business structure. During the crisis, companies concentrate on the center of their business.

If you are still a starting entrepreneur, you have to determine what functions well and what is not. Put more effort into the business core where you started. As for the other division, you can start working with them if everything is stable. Keeping business dynamic for years is hard to do. But you must be ready to grab the chances or sacrifice for what is best.

Integrate business systems

Doing business means you have to assess business affairs that are favorable for you. Evaluate and study areas wherein you can prearrange to minimize expenses. You can share resources using payroll or managerial work with other business entrepreneurs.

The intention is only to streamline operations wherein you can still offer parameter of services and products. With this, you create business partnerships while reducing operating cost and gaining more profit.

Takeaway

Business is never easy. From start to finish, downfall and triumph come together. Failure can be very daunting which makes you want to stop chasing success. But knowing these business strategies will make a difference. You can carry out business successfully despite the harsh competition.

Apply what is useful and conquer boundaries. Be smart and use the advantage of technology.

You will start falling but rising is the only option. Winston Churchill said that “Success is walking from failure to failure with no loss of enthusiasm.” A business must be an asset, not a liability. Face any diversity. Be resilient and flourish through the years.

BusinessBlogs is the popular online Hub for quality business articles. We publish unique articles and share them with our social followers.

Management

How Team Building Events Improve Productivity

team work

Who doesn’t like a good team building event? We all do, and they are so effective for helping a team to bond, i.e. connect at a deeper level.

Improving cohesion with new employees or strengthening the relationship among workers that have been working together for years, is good for business.

When people enjoy their job and the work environment, they are usually more productive and that can only be good news for business owners.

What has been tried and proven to improve productivity in the office is team building events. Group activities that encourage openness and trust, and foster teamwork, improve the workplace environment. People that work well together and as a team, are more productive.

We spend a lot of time working and in the work environment. In the UK the average weekly hours of work is 37.5, though that’s an average, there are professions that work a lot more hours every week. Therefore workers that don’t get along with each other, will affect everyone around them and the overall productivity of your business, so regular maintenance of relationships is required.

While your workers don’t need to be best friends, in fact, you probably don’t want to encourage that, as that too, would lead to distractions; you will want them to be able to set aside any differences they may have, to collaborate on joint tasks in the workplace.

Here are some tips on how to get more from your workers with team building:

Get Out Of The Work Environment

Getting out of the office for the day, is a great starting point says Zing Events, UK industry leaders in innovative, fun and effective team building.

As your workers spend most of their team together in the work environment, just stepping outside of the office provides an intriguing curiosity of each other. There are plenty of activities they can engage in, with businesses like Zing Events so your business can make a habit of it, and well as keep the whole exercise interesting and engaging.

Getting Out Of Your Comfort Zone

Team building events can bring out the best and maybe also highlight areas of improvement in individuals, in your leadership and the company’s culture.

Change is continuous and that also includes your business and it’s people. Getting out of your comfort zone will present areas of improvement and also ideas for change to strengthen the business, and are suited to different tasks.

Whether you have just established a business or it’s been operating for years, it’s always growing and you want to nurture it and to do that successfully, it starts at the shop floor with your people, by improving workplace relationships.

One type of event that can do that effectively starts with getting people out of their comfort zone. Events such as: obstacle courses and also sports and games. Engaging in these activities will shine a light on the people in your business who are leaders and who prefer to follow. This will help organise your roles from managerial to specialist or technical.

A great team building event will help your staff to work well under pressure and Zing Events say it’s also important to have fun!

Relax And Have Fun

If there’s one thing that brings people together, it’s laughter. A natural ice breaker, humour will relax your team so they can perform their best during the challenging tasks. Then it’s time for the after-event. These can be organised too: cocktail making classes, pizza baking lessons, or tenpin bowling and they should always include a good meal together!

Summary

In the office, or on the sports ground; to get the best from your people, requires empathy, participation, trust and teamwork and enjoyment. With regular team building exercises, a clearing of the air for all workers, and renewed enthusiasm for their work are just a couple of the benefits for your business.

Continue Reading

Management

7 Safety Tips to Keep Your Workplace Injury-Free

safety

When we talk of workplace safety, the images that come into mind are mostly of construction workers hanging off high-rise buildings. The truth is there are hazards in any workplace, including office environments.

Thousands of employees fall victim of workplace injury every year. This has led to reduced productivity in the workplace, increased healthcare costs, and increased workers’ compensation claims, thereby having devastating effects on the injured employees as well as their employers. Here are a few things you can do to keep your workplace injury-free:

Wear Personal Protective Equipment (PPE)

PPE is essential in any working environment to protect users from workplace hazards. Note that different working environments require different safety gears. Some of the common PPEs include helmets, metal detectable gloves, slip-resistant shoes, earmuffs, hard hats, full-face masks, goggles, and much more. When worn correctly, these safety gears will significantly reduce the risk of accidents at your workplace. Be sure to check that they are in good condition before using them.

Keep Clean

A cluttered and untidy working environment is much more difficult to manoeuvre and more prone to hazards. Having a clean, organized, and clutter-free workspace can help avoid unnecessary hazards such as being hit by falling objects, tripping over scattered objects, slipping on wet surfaces, and so on.

Inspect Equipment before Operating

It’s important to do a complete visual inspection of all equipment before using them to ensure they are safe to operate. In case there’s an issue with the equipment, inform management about it. Remember to keep all inspection records to let other workers know about the equipment’s working condition.

Follow All OSHA/HSA/HSE Protocols

The law requires all employers to provide danger-free workplaces to their employees. Those researching long term disability due to work-related injury/illness should seek help from an attorney experienced in Social Security Disability law. There are several organizations that have been put in place to protect people in the workplace. For instance, OSHA/HSA/HSE protocols describe the methods that employers must use to protect their employees from hazards. Following these simple rules and guidelines can go a long way in keeping your workplace injury-free.

Report Any Hazard to Management

If you notice something that could potentially hurt someone, clear it up if you can do it safely. If not, inform your supervisor. Management is legally obligated to provide a safe working environment and will surely take care of any workplace hazards to ensure that. Both employees and employers should work together to find a long-term solution to prevent a similar unsafe condition from occurring in the future.

Store Hazardous Chemicals Properly

Hazardous chemicals need to be properly labelled and stored. Ask management if you are unsure where to store them. Chemicals such as gasoline are combustible and should be stored in highly ventilated areas. Failure to do so can put everyone’s safety at risk. Any spills or splatters made while working with hazardous chemicals must be properly cleaned right away.

Implement Emergency Procedures

Even with all the safety precautions in place, some accidents can still happen. It’s important to have an emergency management plan to prepare for the unexpected. All employees should practice emergency drills. Also, remember to update your office first-aid kit, as well as keep a few snacks and water for emergencies. This will mitigate the effects of an accident at the workplace like preventing long-term disability.

Continue Reading

Management

5 Tips For Managing Web Development Projects

data management

A web development project can quickly become a confusing mess if the right management technique is not used. Management is important to the success of any project, but with so many different aspects of site design coming into play, it’s important to streamline the design process so as to save time, and eventually money.

Here are five tips for managing web development projects that will do just that.

1. Communicate!

Communication is key to successful management. If management doesn’t communicate with the team or vice versa, the problems can become exponential. That’s why we’ve put communication at the top of the list.

Communication helps identify problems early on, set expectations and standards, and provide updates on the project. Communication within the team doesn’t only include the team members and management however, but also should include the clients.

You should keep your client updated as the project progresses with frequent communication via email, phone call, or even in-person meeting. The latter is probably the best way to go about communicating with your client, so you can show them how the project looks at each step of the design process and make edits as you go.

There are literally hundreds of digital communication tools you can utilize to improve team communication, from team management software to conference calling services. Whichever medium you choose, be sure to utilize it each day to improve your team’s collaboration and ensure everyone is on the same page.

2. Utilize Easy Sharing And Collaboration Tools

Sharing has never been easier with the advancement of cloud sharing services. It seems like cloud saving and sharing have become the staple of any digital service, from wireframe tools to team management apps.

Easier sharing eliminates the problem of lost files, hard drives, etc. The days of emailing and downloading files are just about gone, being replaced with the ease and security of cloud sharing. By sharing via the cloud, you’re providing a central place for your team to access important files related to the project, saving time.

Cloud sharing also makes keeping the client updated simpler. You can give clients access to the shared folder, so they can see the files as the project progresses, and even send instructions to the team via the cloud.

Overall, cloud sharing is the best way to share files among team members and streamline all of your sharing and collaboration. Centralizing these efforts into one location makes managing assets and team members much easier.

3. Use A Wireframe

A wireframe is probably the single best tool you can use to assist in managing a development team. This effective tool provides a roadmap for the project that both the team and client can utilize to make edits, suggest new additions, and view the design process.

When you make website wireframes, you’ll want to focus on the functionality and UX of the design rather than any visual elements. That comes later in the design process. A wireframe is simply a blueprint for the site, and therefore should be kept simple with greyscale and simple fonts.

Use your wireframing tool to coach the team in the direction of the project, and to keep the client updated. Both the client and your team will be grateful for the organization that a wireframe can add to a project, and edits are much easier when you have a workable interface.

4. Use Team Management Software

Team management software serves several different purposes. You can assign tasks and hold team members accountable for their assignments, share files and projects, and even collaborate in some cases in real-time via video or audio chat.

Team management software provides managers with an easy to use interface to track team efforts and communication. This is especially useful when managing large teams or remote teams that you otherwise wouldn’t be able to meet with in-person.

There are hundreds of different options for team management software, with many of the apps being web-based for easy access. While there are many free services, the best team management apps will come with a fee. If you’re serious about managing your team more effectively, these tools can be an excellent option.

5. Set Expectations From The Beginning

This may seem like a simple thing to do, but often managers will not set clear expectations for what they expect and are then unsure as to why the team isn’t meeting standards as a result. Clear and precise expectations can mean the difference between an efficient team and a clumsy one.

The best thing you can do as a manager is to set expectations in writing at the beginning of each project. Provide the client’s expectations for the final project as well as yours. Include attendance expectations, each team member’s role, and any other pertinent information.

When you set clear expectations, the team becomes much easier to manage. Everyone is aware of what’s expected, so you can pinpoint those team members that aren’t meeting those expectations and make the necessary adjustments where needed.

Conclusion

Team management isn’t rocket science. With good communication, clearly defined communication, and the right management and collaboration tools, you can effectively manage an efficient and productive team. Keep in mind that team members need their managers to be organized and respectful of their work. You need to earn the team’s trust and respect as their superior, and with a little communication and empathy, you’ll be on your way to becoming a great manager.

Continue Reading

Management

Lead the Way: 5 Practices for Successful Leadership in Your Company

Whether you’re leading employees in a large corporation, or you’re leading within your own small business, the same practices for successful leadership apply. Employees hold the responsibility to carry their own weight, but leaders have the role of guiding others down the right path – toward safety, productivity, efficiency, and integrity.

As the leader of a company, what can you do to help ensure employee safety? What habits might eventually become a threat to their safety? What skills can you put into practice to lead your team to success?

1. Lead by example.

No matter what type of company you run, leading by example will always remain the first priority for building a strong team that makes smart choices. When you set the bar for high expectations, your team will strive each day to meet them. Whether you’re on a construction site wearing proper safety gear and staying on task, or you’re in the office delivering a presentation, your team will look to you as an example.

2. Communication is key.

Growth in any relationship comes from mutual understanding and a desire to improve. When you learn to adapt your communication skills to each of your employees, transformation increases tenfold. Many interpersonal issues stem from a simple lack of communication or misunderstanding. Having open lines of communication means your team will trust you and be willing to put in the work.

3. Learn from your mistakes.

We all make them, and we can all use them as a guideline for improvement. Take note of things that haven’t worked for you in the past as a leader, and see if you can shift your perspective to create a solution.

4. Make conscious decisions.

Taking the time to pause before making any major decisions is wise for many reasons. A simple mix of instinct and logic is the perfect blend to back your choices. Your employees will see that you don’t make hasty decisions, and they’ll be inspired to think through issues of their own.

5. Help your team remained focused.

Encourage your team to stay on task. If your job requires manual labor or an onsite location with large machinery, make sure your team remains aware of their surroundings at all times. Not only does productivity increase with heightened focus, but safety increases as well.

If an employee is injured at work, always direct them to seek medical treatment. According to workers’ compensation lawyers in Raleigh, NC, these claims should be handled immediately following an injury.

Keep these 5 practices in mind to help improve your leadership skills and guide your team to success!

Continue Reading

Management

4 Important Logistics Trends to Consider

cloud computing

Businesses and other types of consumers need to be able to find the right logistical solutions. Taking care of a consumer’s shipping needs is absolutely important and there are many things to consider. Those who want to have the best possible experience should really think about current trends and where things are going.

Take a look at these four important logistics trends that you need to consider moving forward.

1. Green Logistical Solutions

Many companies are taking environmental concerns very seriously. Being able to implement green solutions into the structure of a business is very important. As per 3PL Link’s eco-friendly supply strategy, iIt has become a big trend in the logistical world recently . You will find that several large companies have begun to decrease the environmental impact of their operations.

As the world continues to turn away from fossil fuels, green solutions are going to become more common. Integrating new green technologies into the normal business processes is crucial. Some companies are making greater efforts to do this than others but the trends show that green logistical solutions are here to stay. It is important for the reputation of logistical companies and it can lead to benefits such as lowered supply chain costs.

2. Digital Logistical Solutions

Of course, digital logistics are among the most important innovations in the logistical space. The addition of digital logistical processes has really improved the process overall. It allows companies to have access to real-time data in order to keep track of shipments. This makes everything more efficient and improves communication between all parties.

One of the biggest reasons why the digital logistical tend is going to continue to be important is that it reduces the time to market. The improvements in technology have made it possible to do things more quickly. Being able to plan things out more efficiently leads to better logistical services. The innovation in the digital logistical solution sector is impressive and this will continue to become more important as the years go by.

3. Elastic Logistical Solutions

This is a logistical concept that involves being able to provide very flexible logistical options to consumers. This logistical approach is all about being capable of responding to the demands of any given situation. Companies are making use of cloud-based solutions in order to help adjust things properly. This helps with supply chain integration, improves overall visibility, and keeps things running on time.

One of the goals of the elastic logistical solution strategies is to ensure that customers have the optimal experience no matter what their needs are. By adding real-time supply chain visibility to the mix, it gives customers the chance to see what is going on with their shipments. Companies that can take care of logistical needs in an agile and adaptable way will be able to better meet the needs of consumers.

4. The Importance of Supply Chain Collaboration

Supply chain collaboration is actually starting to become a very important part of the process. Companies that are providing better service levels throughout the supply chain process are noticing increased growth and lower costs. This process can ensure that everything is being run as efficiently as possible while communication is kept up on all ends. It gives people a better idea of where their goods are while also keeping the costs low.

Continue Reading

Management

7 Tactical Tips on How to Disrupt an Industry

laptop

1,000 songs in your pocket.

That one slogan helps explain how a computer company (aka Apple) transformed the music business and sold 300 million iPods in the process.

People could now purchase their music online. Physical music stores became redundant. Online piracy was less of an issue. Lone songs were available at a fraction of the cost of whole albums. And hundreds of them could be transported on one portable device.

Disruption of an industry doesn’t get much bigger than what Apple achieved.

But how did they do it? How do some companies look at proud, old industries, and revolutionize them in line with their vision? Thankfully, you don’t have to be a Steve Jobs to make it happen.

Anyone with the right know-how can do it.

Keep reading to discover 7 tactical tips to disrupt an industry.

7 Ways to Disrupt an Industry the Easy Way

Sometimes you need to make a splash, cause a fuss, and mix things up. Here’s how to do it in your industry of choice.

1. Solve the Unsolvable

Every market has problems they haven’t been able to solve.

Then someone comes along, solves them, and voila, market disrupted.

Take Amazon as a prime example.

There wasn’t really anywhere to buy books online before Amazon. Book stores were struggling businesses, stuck in the dark ages. Then Bezos created an entire marketplace from buying them online.

Now the company generates over $61 billion annually and has 97,000 employees.

That’s the power of disruption you should be aiming for. Consider the problems in your industry and set about solving them.

2. Take a DIY Approach

That’s easier said than done, right?

Try taking a new approach to old problems. Why not look to make a splash in industries where you have no prior experience?

Previous experience in totally different fields can be exceptionally helpful. For instance, it may take a biologist to solve a physics problem or vice versa.

People usually say something can’t be done because they’ve been told as much. They’ve been reared on that belief and fulfill the prophecy accordingly. Someone new to the mix doesn’t have that negative mindset. They can see it clearly for what it is and set about fixing things.

Oh, and yeh, solve the problem yourself. We’re too used to paying someone to provide solutions. But the nature of unsolvable problems is that there isn’t anyone to do it. Scratch your own itch instead.

Need a company that’ll provide the requisite logistical support to succeed in your initial industry of focus? Create it. Make it happen, then use it to solve the first problem.

3. Break the Mold

Disruption of anything usually requires doing things differently.

To disrupt a quiet classroom you make a noise. To disrupt an industry you do the same. Look at what’s happening and actively push against it.

There will always be people and ‘experts’ with an opinion on your idea. You will probably be told you’re stupid, foolish, and absolutely incorrect in your approach. Take that as active fuel for your fire, as well as a clear sign you’re doing something right.

People generally don’t enjoy someone upsetting their current way of life. They’ll get annoyed, stomp and moan and throw a tantrum, telling you you’re wrong. That’s good news. Keep doing what you’re doing.

4. Move Fast and Make a Fuss

Speed is of the essence.

And so it the amount of noise you make.

Be a bull in a china shop when you enter your industry of choice. The metaphor of a bull is apt here. You need to be the business embodiment of one. Bulls don’t stop with an obstacle in their way. They don’t hesitate when they’re told they can’t do it.

Instead, they charge and break things at every turn. They’re one step ahead and out of earshot of the naysayers before anyone can wonder what happened.

5. Break the Mold

Did someone say ‘déjà vu’?

No, you’re not imagining things. We did include this above. And yes, it’s absolutely on purpose.

What was your first thought when you saw this subheading for the second time? Did you feel uneasy? Did you think it was wrong, or just downright stupid?

Good! We broke the goddamn rules. They get in the way and stop creativity in its tracks. That’s what you need to emulate as you set about disrupting your industries. Be crazy, and be creative. Be bold and break the mold.

6. Listen to Problems

Here’s a quick tip for idea generation.

Listen to the complaints of customers. What don’t they like? What do they wish they could do or see? What do they moan about?

Go to forums, read reviews, listen to podcasts and watch videos online. There are little golden nuggets of information around every corner.

Find out more about a product that’s addressed an issue and is disrupting an industry as you read.

7. Take Aim at a Target

Who is the industry leader in your field?

They may have ruled the roost for years. No-one else even tries to knock them off their pedestal. Until you came along. Remember, you’re a bull. Take aim and charge.

Targeting a competitor is like going to war. It’s a risky business. Win, and glory is yours. You stake your claim and immediately disrupt the status quo. Lose, and you’ll be laughed at and relegated to the history books…until next time.

Hyperbole aside, going into competition with an industry leader (with a competing product or service, etc) may be exactly what you need. It can help to raise awareness and cause a stir. Then it’s up to you to follow through.

Time to Get Disruptive

There you have it: 7 ways to disrupt an industry without an issue.

Some of the biggest companies in the world established their names through disruption of an industry. Like an athlete applying a whole new technique to an event, these companies, cause a ruckus that works in their favor.

This requires the ability to look at old problems with new eyes. It also requires the willingness to take a risk. Thankfully, with the right tactics, both are possible.

Hopefully, the information here has provided the ideas and inspiration to start disrupting your industries without further ado.

Did you like this piece? Click here to read all our posts about how to be innovative in business!

Continue Reading

Trending