THE TIME IS ALWAYS RIGHT FOR INNOVATION AND IMPLEMENTATION.
While traditionally set up companies may fall, there is definitely direction for the smalls guys…the new guys. The principle here is that at the edge of any new economic cycle reforms, the traditionally set-up guys will suffer and take some heavy blows because their form of operation would be destabilized. That destabilization opens up the market for the other guys. Again, the principle of every crisis is that on the other side, they are opportunities.
A lot of SMMEs have heard about the digitalization of economies and the business culture, but have not understood the fundamentals and thus cannot take advantage of these opportunities. Any opportunity that is not taken advantage of ceases to be an opportunity. Similar to digital technologies, they cease to be an advantage when we don’t tap into their potential.
Digital technology has become an equating factor that, if used correctly creates an opportunity for equal footing of SMMEs with large corporations. On a larger scale, as things stand, we are all in the same boat. In these new times, now more than ever, advantage lies with those that are on the path of re-configuring their business culture and operation systems to match the current circumstances. For SMMEs to take full advantages of these new developments, they must be in the process of continuous learning. Traditional knowledge requires supplementation.
Now more than ever, the technology that we have at our disposal will be integral since businesses must now be run from the comfort of our discomfort. Life as we know it has become complex – there are many sides to this coin now.
Resources are everywhere and the first obligation of any SME is to recognize that they have all they need to be in the right business atmosphere. We must broaden our understanding of shared resources that are in full abundance around us. Shared resources are not owned by a single individual but rather are readily and mostly subsidized or freely available for all to use. Usually when something is freely accessible, our value recognition towards that product diminishes.
Shared resources are everywhere. Before the lockdown, you used to travel to your offices in CBDs. The road you used to travel is worth billions in any currency. You get to use it but you don’t own it. The equipment that produce the cars, the machines and daily necessities that we use benefit us but we don’t own it. You don’t know the full cost of producing the office you work in or that container you have set up for your daily trading.
The taxi driver that drives you to work – you don’t own him, you did not help him get his driving license, but he is readily available. Most valuable resources at our disposal are available at no cost at all. The city library where you can read and consume information is there for free. Google is worth billions yet we don’t pay to use it. Any business has free access to it. The countless websites that we frequent online don’t belong to us. Their cost is worth millions, from research to maintenance yet we don’t pay anything to use them. Remember these are called SHARED RESOURCES. They are available but they only USEFUL to those who use them, yet their value is not determined by your individual usage.
These are just the few shared resources – look around and you will realize that they are plenty shared resources that can break the trillion dollar cap and yet their usage is free – besides the cost of internet connection.
The genuine resources needed to navigate towards the success of any business are available – yet they are useless if the founders don’t utilize them.
Since the lockdown, what have you been busy with? It is difficult to coordinate employee productivity during this period. Suddenly in your small business, you are the only one worried – worried about business continuity, salaries and other hosts of staff. Worry is common yet it is the most staggering activity to spend time and energy on. During this period, take time to learn. Learning equates to preparation.
Among-st others, we recommend the following things (activities that we can also help you to get started on):
- Learn – future proof your business by supplementing in lacking places. Invest time into learning new developed operations systems to simplify your intraday dealings.
- Software – ever heard of automation? If not, you are behind but not too much. Learn about marketing automation to simplify your marketing requirements and cut down on the time it takes to market your products and business.
- Social media – do you have any social media presence on maybe at least Facebook, twitter or Instagram? If yes, how have you been managing them? If not, now is the best time to publish your social media pages and take time to curate them to your market. People are now on their phones more than ever looking for things to do, read, entertainment, products or learning – let them meet you there too.
- Social content – having social media platforms is the first step. Content is the most important. Take time to develop content that communicate your business and products much more effectively. Your content should be engaging, informative and sometimes entertaining – all depending on the nature of your business.
- Digital platforms – learn to use new age tools that are at the forefront of running companies. Some companies have continued operations using virtual reality technologies. You can have meetings on skype or zoom. You can manage and assign tasks to your employees/team mates on trello. These are just examples where you can continue to engage with your team members remotely
*Zero1 Creations has measures put in place to assist your business with the mentioned services- trust us to get you and your business started in the process.
The reality is while business has been hard hit, capacitate yourself with essential skills that can sustain your future operations. One-individual businesses at a large scale will not close. The phone repairer, the website developer, the content creator, the person who sale cupcakes at the corner are some one-person operations that have ceased operations but when the pandemic has been better controlled and business gradually relaxes back into operation, it will be difficult but they will find their feet. It will even be more difficult for the businesses that waited without some self-preparation measures in place.
*STAY AHEAD OF THE CURVE & STAY SAFE*