Business Dynamics
business dynamics
Is your Internet business doomed to failure?
In any Industry that you care to mention, it’s common knowledge that if you don’t keep up with the times, or in fact keep ahead of the times, your business is doomed to failure or at the very least, obscurity.
This is evidenced by the fact that almost every Industry sector is incorporating Internet based strategies for communication and brand awareness alongside their more traditional strategies for raising public awareness for their business. As has become apparent, Industry sectors dealing with Youth markets and in the Entertainment and Arts sectors quickly realised that Internet promotion was a critical strategy within their overall public awareness strategies.
Having the Internet in almost every home, as well as on mobile phones, PDA’s, iPods and the like means that the potential access to target markets is immense. This massive and rapid expansion (at the time of writing, the Internet as a tool for effective worldwide business promotion is only around 4000 days old!) of the Internet has meant that businesses have been introduced to whole new archetypes of promotion and more new ways to increase sales and brand awareness than would have been thought possible even a few short years ago. Because of this, Businesses going “online” have had to contend with a steep learning curve and learn a whole new language to effectively build their brand awareness.
Now techniques like “SEO”, “Viral Marketing”, “Opt-in Lists”, “Article Marketing” and “Search Engine Submission” have become critical components in any businesses arsenal of tools for tapping into the power of the Internet effectively. Even more traditional business models, that wouldn’t normally be associated with modern technology, have discovered that an online presense has become essential to their success. Retail giants, High street shopping chains, even fast food outlets have utilised the power of the Internet.
Traditional High Street shopping staples, such as Music and book stores have suffered as customers have migrated to the convenience of Internet shopping. In fact, many high street stores, struggling to keep up with rapidly changing buying habits have simply “gone under”, unable to compete with the price of Internet products, service, or ease of buying. For small family run businesses, unable to build an Internet presense, this has been nothing short of a disaster. As it is, small businesses are already struggling to hold their own against out of town superstores or multinational chains.
Added to this is the already mentioned migration of their clientele to using the internet and it becomes apparent that just to stay in business, rapid adaptation is needed. Even Industries that don’t neccessarily need to market their products or services on the Internet still have an Internet presense via their own websites and accounts at social networking sites such as Facebook and Twitter.
Todays savvy shoppers will initially search the Internet, to find out about a company or a product or service, before committing to purchasing. This means that traditional approaches to connecting with clients or customers have been completely changed.
After all this doom and gloom though, there is some good news! Diversity, creativity and innovation have always been important in Business and Industry. Now, these traits have never been more important, they just need to be adapted to ever changing business dynamics. It is very often the small, independent businesses that are most able to adapt quickly to rapid changes in innovative and creative ways.
The Internet, especially in the last year or so, is an amazingly dynamic place to be. Customer retention, awareness and exposure are changing, it sometimes seems, on a weekly basis. A few years ago, a webpage would have been fine for your business to get found. Then it needed forums and chat rooms, then it needed blogs. Now it needs “Web2.0″, the era of communication, collabortion, sharing and social interaction. What’s next for the business owner?
The business that thrives is the business that looks upon these rapid changes as things that are new and exciting. And as has already been mentioned, the businesses that are obstinate to change, or refuse to move with the times, are the businesses doomed to failure.
About the Author
Paul Rogers is a Co Director of the Limited Company, Cloud City Concepts, a Ruby on Rails based free online website builder that allows any person to speedily and easily build a substantial on line business in a number of varied and powerful ways, for example, Shopping sites, associate websites, Social Networking sites and blogging sites. To find out more, or to obtain a free site, please go to www.cloudcitysites.com.
any go-getters out there?
Need advice please?
a year ago i rekindled a service industry business that i thought i would never restart again do to to many personel problems. once again i have reached that point and the biz will grow no further with out one of two things happening; virtual slave labor or start sharing the biz ,ownership and profits with friends that i trust. my question is would it be better to have two or three owners. i feel there could be trouble with just two and i feel that three would have a certain checks and balances type thing. ofcourse the trade off is less pie but a stronger base. what are the known social dynamics of such arraingements?
It depends on how your partners will behave . Some people just can’t work as a team . However , if they are team players , there is no question that you should expand if it can bring more profit for everyone .
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