We really liked this recent blog post by Patrick Pando at Sage: it got us thinking about our own business as well as that of our customers. It focuses on digital disruption and the importance of embracing change in your business.
So how does your business fare? Taking advantage of the new opportunities and markets it opens up, or at risk of being left by the wayside?
8 signs that you’re about to be disrupted
- You focus on technology to drive efficiency and cut cost rather than to create value or enter new markets.
- You have apps, mobiles and cloud solutions but nothing seems hooked-up, and your team seems to be focused on the next hip, cool stuff du jour but never adopts one for a long time.
- You are working harder for each additional unit of revenue. You and your teams are struggling to drive growth with existing clients and are fighting hard to keep the clients you already have.
- IT is considered only an internal or outsourced function and is a running company joke. Is IT a joke at transport giant Uber or accommodation booking site Airbnb? No, IT there are rock-stars.
- The average age of your customer is increasing. Next time you’re with a group of your customers, take a look at them; are they approximately the same age? And if you think back ten years ago, were they approximately the same age but ten years younger?
- You make money the same way you’ve always made money. Your revenue model hasn’t changed.
- Data seems to be everywhere but it is siloed with individuals and departments. (Shouldn’t your company information be as readily available as your Auntie’s weekend snaps with her Labrador retriever?)
- You have a high-touch business model.
> To read the full post, click here.