Technological advances are impinging on every sphere of life – and none more so than in the business world.
While we strive to keep up to speed on the latest developments, the question lurking in the background is always: will this benefit my business? Unfortunately, the answer is sometimes not as clear cut as we might hope. For every no brainer advance there are dozens of others where the business benefit is not as readily apparent or able to be forecast.
The danger for small to micro-sized businesses is in technology making life more complicated, not less. With much smaller budgets to work with, it is critical that investment in technology results in a return in the form of increased efficiency, productivity and profitability. Be it hardware, software or a web related development, the outcome has to be transparent and positive as the margin for error is so much narrower.
The technology adopted must also be appropriate to the needs and the scale of the individual business concerned and achieve the goals expected of it. Only those with very deep pockets can afford to keep up with the Joneses or be cutting edge without well-defined reasoning and performance objectives behind the purchase.
Perhaps, we are becoming too slavish to silicon, too susceptible to the lure of shiny new kit and slick marketing. Could it be our IT spending is framed only by a need to be up to date with little heed of the bigger picture; the banalities of return on investment and the practicalities of deploying the new tech into our daily business operations? Is the tail of ICT wagging the dog?
I, personally, am beginning to think this may be the case to some extent…and I’m no Luddite. If there’s some time and space over the summer, maybe we all should consider whether we are getting the basics rights. For if we get all the foundation blocks bang on, then everything else should fall into place.
I came to this conclusion the other day while checking a hastily discarded end-of-term school bag for half-eaten bananas and other perishables. Inside, among jotters, an absence note that was never presented and forgotten school newsletters, was a hand-written “memo to self” on how to win at badminton.
The extra practice and well-concealed disappointment of being runner-up in last year’s school tournament had been carefully distilled into five fundamental insights:
1) Concentrate
2) Use the full width of the court
3) Make your opponent run as much as possible
4) Vary the strength of your shots
5) If your opponent is weak, hit high to the back of the court
As she had earlier that day came home proudly lugging a large shield, the recipe for success had worked. And worked well. She had dispatched all her opponents comprehensively and gone on to beat last year’s champion in the final by four clear points.
Maybe, just maybe, if we all sit down and refine into five or six components what we need to do to be a success then we too can make our dreams come true. That said; would we merely be reinventing the wheel? Could, in fact, these five badminton bullet points be transferable to business in an “Art of War” kinda way? Let’s see.
1) Concentrate: Yup, you’ll not do as well as you might if you don’t keep your eye on the shuttlecock. Distractions take the mind and energy away from what really matters in business…selling to customers.
2) Use the full width of the court: Spot on again. Maximise revenues by taking full advantage of all the possibilities before you.
3) Make your opponent run as much as possible: Can’t disagree with this either. Keep rival firms at bay by keeping them on their toes. Continually strive to improve your game in order to win a bigger market share. Lead from the front and the opposition can only follow in your wake. Never resting on laurels ensures other companies can’t catch up or overtake you. Tire the opposition’s legs by being innovative, forward-thinking and calculated.
4) Vary the strength of your shots: Versatility is the name of the game in business and badminton. Work towards being predictably reliable, not reliably predictable. Putting your opponents on the wrong foot and off-balance can only be to your advantage.
5) If your opponent is weak, hit high to the back of the court: Learn to read the game…and the weaknesses of your business opponents. Knowing the pressure points of rivals will enable your company to pick up extra business by moving into a market space that isn’t well served. (Ouch!)
