Imagine yourself in the 1950s. Work was done from 9-5 and was largely left at the office. Weekends were spent fishing and spending time with family. The world has changed exponentially since then – but nothing has changed at such a rate as technology.
Technology is growing, adapting, improving every day – fundamentally changing the way we live our lives. Have you ever stopped to think about all the ways in which it is changing the way we do business?
1. We are more connected than ever
For better or for worse we are more connected now than we have ever been before. You are more connected to your team, your suppliers, and your customers. From apps that allow you to reach everyone on your team at once to social media platforms that allow you to keep your customers and clients up to date with changing information – communication has gotten more frequent and more efficient.
2. We are always at work
On the heels of more frequent communication, business has evolved in a way that leaves us constantly working. Now, problems or opportunities arrive right in our inboxes or on our phones with the expectation for us to respond immediately. These increased expectations are resulting in a higher level of workplace related stress.
3. We know more about our customers
Back in the 50s, we knew our customers because we lived in their towns, we knew their families, we used their services. Since then, our population has grown so much that we can’t begin to know everyone on a personal level – but technology is beginning to do all of the “knowing”. Today we can find out easily what our customers’ interests are, their income level, their buying habits. This helps us to target our advertising better and get more bang for our advertising dollars.
4. We keep our data off-site
Actually, in most cases, we keep our data in a cloud. The creation of cloud computing has really streamlined many aspects of business. Having our data available through the cloud means that business trips, off-site meetings, and even entire office moves can be completed seamlessly. It also provides us with a certain level of assurance that our information will not be easily lost.
5. We conduct business under a microscope
Everyone and every company has bad days. Sometimes our customers can walk away from a transaction feeling less than satisfied. In the past, this would simply be a hiccup that needed to be dealt with on a personal level. My how times have changed. Nowadays, that one unhappy customer can reach hundreds if not thousands of people with very little efforts. We always have to think about the way our actions can be perceived by the masses. We must always conduct business as though it is being broadcast live on television. This has helped many companies become more honest and open versions of themselves.
Technology is evolving so quickly that what might be new and hot today, might be obsolete five years from now. We must learn to grow and adapt in the same ways technology has.
DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation in writing this post, nor do I own any shares in any company I’ve mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.
US-China trade dispute continues to disrupt stock markets
Perception is everything and any suggestion that the two parties are still talking, the stock market rallies.
South Africa switches from gold to cryptocurrencies
Everybody expects cryptocurrencies to be most popular in Asian countries or European ones like Sweden or the UK.
Wheat markets move higher amid potential disease problems
Meanwhile, corn exploded higher last week as the weather market got underway.
Why technical analysis works in the foreign exchange market
How useful is technical analysis in forex trading?
Some insurance tips travelers need to know
Accident or travel insurance policies help protect your finances while you're on the road.