Your Business Is Doomed ! – Here is why…

"Winter is coming" - No it's spring actually, so you can smile! The agonies are finally over, or are they?

Look around you and try to absorb the fast pace of change, if you haven't been to a public park in a long while, now is your time to go sit in the sun ( like the one we have here in California )

Coming back to what I want to share with you, if you haven't had a reality check I want to send you to a verbal intervention, shake you up a bit. If you own a business, buckle up! I want you to rise from your sweet slumbers and witness the global shift in the way businesses work these days.

There was a time when big corporations ( the sharks) reaped all the benefits and dominated in every area you can imagine.

Fast forward to "today" where we see startups and small companies taking over the world. Something that was unimaginable 10 years ago.

Imagine, what your company is doing with 50 employees and the same is done by a 3 employee company, even more efficiently, what would you do?

Scary! isn't it?

Sears, JC Penny, RadioShack etc these are the outlets we millennials have been visiting since we were  small kids, looking at them fading away today just breaks our hearts.

How to save them?

After every few decades, there is a paradigm shift, that changes the whole scenario and if you are not fast enough to move to the next paradigm, you will be left out.

AI, AR, VR, ML, NLP - Are these all just buzz words? I don't think so, I think you cannot step into the future without them.

If your company does not board this super sonic flight of innovation, it will bite the dust and evaporate eventually.

In today's age if your company is not well equipped with tools of technology, a startup will eat your lunch and eventually replace you.No matter how harsh it sounds, this is the reality. Kind of like what Uber is doing to the Taxis and AirBnB is doing to the hotels.

"You can run, you can hide but you cannot escape this apocalypse"

So, what is it that you are missing out on?

And what can you do to make sure, your company lives to see another day ?

1. Get WebHR, sit back and relax and "walla" you are done! - "NO!" JK! There is much more that you have to do, Such as -
2. Equip with technology in every possible way
3. Go mobile wherever you can
4. Meet remotely as much as you can
5. Cut your costs and avoid extensive cash burn
6. Automate! automate! automate!

Technology:

Fifteen years ago, businesses without a website were considered as stone-age companies, of course your business has a website today but does it have a chatbot?

Chatbots are a great way to engage with your customers by not hiring, expensive support team.

Of course a chatbot cannot replace a human but trust me, it can handle 60% of their tasks efficiently. The way 1-800 replaced a lot of customer support representatives 10 years ago. Today chatbots are replacing 1-800s

Go Mobile :

If your business is tied to a building, you should consider going mobile wherever you can. Gone are the days of brick and mortar, lets not forget, that every individual is equipped with state of the art smart phone in their pockets, who wants to have access to your business even when they are pooping!

 

Meet Remotely :

GoToMeeting, Xoom, Skype, Hangouts, etc these are some of the ways we are suppose to meet people these days, rather than flying or driving - That's so yesterday !

Technology has made communication so fast and efficient that you can have a meeting with a prospect client based in Japan at 9:30 am and with another client in San Francisco at 10:00 am.

I met a few people probably in their 60s last month and they were constantly flying back and forth to meet their clients, result? They were out of business soon! I say cut the cost and cut the crap!

Avoid Cash Burn :

Let me just ask a simple but very important question, "Do you have to hire expensive HR people, when you can do the same for just $50 Amazon Echo device? "

Think of cost cutting, a drone can bring versus the delivery guy. I feel sorry for all the jobs that technology will cut  - but this is unavoidable!  Time and again we have seen and witnessed the downfall of large corporations with more employees than some countries in this world, some of them just hiring to look bigger and the rest to burn the cash they got from making a fool out of wealthy people. The amount of pain and agony that some very dedicated teams have to go through, when the companies realize that they don't have enough to have such large teams and begin their process of downsizing. The anger and resentment is just part and parcel of those procedures.

 

Automate :

Every industry is taking enormous advantage of automation revolution. Why should the small and medium companies be left out? If I must say, this is your chance to compete directly with the big bosses or the large enterprises. Regardless of what industry you are in, you can make a huge impact and set the sails of success in the right direction. This is when you define the character of your company by displaying the kind of ambitions and motto you follow. Be a champion by embracing the innovation and the boon of triumph will be served to you in the golden platter.

 

Technology is the only enabler that has brought everyone on the same page. Today any small or a medium company can buy sophisticated software, that were only affordable by large enterprises few years ago. Software as a service ( SaaS ) is becoming the de facto or mainstream choice for the companies, to acquire all of the latest tools at the fraction of a price.

You too, can survive the wave of innovation and stay afloat by using it as your "life buoy"