“When you’re finished changing, you’re finished,” said the wise Benjamin Franklin. The trick is, how to decide when change should happen?
It’s a topic that makes business leaders nervous. Change is good, but so is stability. The world does not comprise of only mavericks and trailblazers – and even those often reach their stature through steady determination, not constantly rocking the boat.
As the world builds on the tectonic shift of technology that was the Internet 1.0 era, we move into Industry 4.0, also called the Fourth Industrial Revolution. The radical impact that technologies such as the internet, email and business applications created is now reaching beyond our computer screens and into the world around us.
Breakthroughs such as the Internet of Things, blockchain, artificial intelligence, connected cars, and smart cities are not just shaking things up – they are rewriting the rules.
History repeating itself?
Radically changing business models is not a new phenomenon. By 2027, three quarters of S&P 500 companies will be replaced. Over the last 60 years nearly 90 percent of Fortune 500 companies ceased to exist as independent entities.
The last time business experienced such upheaval was in the late 1970s, when new technologies sparked a massive shakeup of incumbents, leading into the consolidation-crazy 1980s.
Related: 4 Types Of Business Models
Hasbro, a multinational toy giant, previously sold textiles. So did Berkshire Hathaway, now an investment titan. Western Union was once the leader of telegraph systems, today it is a leader in cash transfers. Fujifilm has shifted its vast skills in chemicals from photography to making high-end cosmetics.
The six business models for change
Although we can’t see the future, we can look at what is working so far. And from these learnings, six distinct business models show promising resilience:
- The Outcomes Based Model – Instead of selling just products or services, a company’s revenue is determined by the outcomes their customers experience. Insurance companies favouring a usage-based model are good examples of this.
- The Expansion Into New Territories Model – This is the most popular example of disruption, with cases that include banks moving into telecommunications and telecommunication moving into banking. Amazon – a major freight customer – is now expanding into that very business.
- The Digitisation of Products and Services Model – Here companies use digitisation to improve the entire value chain and reduce costs. Think Apple’s music empire, or the efforts by banks to convince customers to swipe cards instead of exchanging cash.
- The Companies that Compete as an Ecosystem Model – This involves using complementary partners to build richer products. One could argue that car companies have been doing this for decades, but the connected car is reshaping even that stoic sector through new and radical partnerships.
- The Shared Economy Model – These businesses thrive on exploiting under-utilised assets sourced from third parties. AirBnB owns no hotels. Facebook creates no content. Yet both grow on those elements, all coming from the outside.
- The Digital Platform – The sixth and final model, this could be an online marketplace such as New Zealand’s Powershop; a networking space like SAP Ariba or the business tools found in Microsoft’s Office 365. Digital Platforms not only offer more for less, but create new and exotic ways of monetisation.
Related: 3 Types Of Ecommerce Business Models
Even the most conservative and largest companies have shifted their business models, extracting most of their revenue from streams that didn’t even exist a decade ago.
You may feel your business is still in calm seas, or perhaps it already feels the waves smacking its hull. But it’s critical that you see the winds of change blowing, and prepare to chart a new course for success in your business.
HP Launches New Ink Tank Printers For High-Volume Home Users
New HP DeskJet GT Series offer high quality printing at an extremely low cost-per-page.
HP Inc. unveiled the new HP DeskJet GT 5820All-in-One series targeted at high-volume home users looking for a wireless ink tank printer that never stops. This wireless all-in-one prints thousands of pages, all at an ultra-low cost-per-page. Our easy-access, spill-free refill system means no more mess, just exceptional quality and reliability for all your high-volume home printing needs.
“High volume home users are focused on efficiency and are constantly on the lookout for innovation that can reduce cost and minimise disruption to their work,” said Jane Geypen, HPS Category Manager for South Africa. “The new HP DeskJet GT series makes high-quality, reliable printing more affordable and wireless printing and ink refill easy and fuss-free.”
Longer staying power, renowned quality
The HP DeskJet GT series prints up to 8,000 pages with a set of three HP colour bottles or up to 5,000 pages with a HP black ink bottle out of the box. Original HP inks are specially formulated to deliver sharp text, vibrant graphics and photos that are water and fading resistant, while also offering professional quality and borderless printing.
Replenishing ink is also clean and easy with HP’s innovative spill-free refill system. The bottles can simply be plugged into the tank without any squeezing required. You can also easily monitor ink levels with the transparent ink tanks.
Connect wirelessly and work from anywhere
The working environment today needs to be connected and wireless. The new HP DeskJet GT 5820 All-in-One printer makes it easy for you while working remotely to connect via a smartphone or tablets. The printer can be set up out of the box using just a mobile device. Even without a wireless network, Wi-Fi direct enables you to directly connect your printer to your mobile device at home.
In addition, with the HP All-in-One Printer Remote app, you can quickly send scans to email or cloud storage through your mobile device. You can easily print from a variety of devices including iPhone® and iPad® using AirPrint™, or smartphones and tablets running Android™, Windows® 8, Windows® 10, and Google™ Chrome™ operating systems.
Quick, easy setup
The HP DeskJet GT 5820 All-in-One comes with a set of three Original HP GT52 colour ink bottles, plus an Original HP GT51 black ink bottle, so you can set up fast and start printing right away. High-yield HP GT51/52 ink bottles are the perfect match for high-volume printing. Original HP inks are specially formulated to work with the all-in-one, and ensure that printing is simple and reliable, with amazing results every time.
More information about the new HP DeskJet GT 5820 All-in-One series is available at http://www8.hp.com/za/en/home.html
Why You Need To Be Using The HP GT 5820 In Your Business
Extremely low cost per page. Innovative high-quality printing. Everything you’ve come to expect from HP.
HP recently launched their GT 5820, this All-in-One printer is ideal for high-volume users or small- and micro-businesses who need low-cost, high-volume printing. If you need to be able to print on-the-go the GT 5820 can give you the freedom to print from your smartphone or tablet, the 5820 model offers easy mobile printing options.
No matter which model you choose, you’ll get:
- Affordable high-volume printing
- A clean, easy refill experience
- Easy monitoring and maintenance, with minimal intervention
- Consistent, high-quality results for everyday documents and photos
- Borderless printing for brochures, flyers, photos, and more
- Convenient, quality copying and scanning.
Higher stamina at a lower cost
The new and innovative GT 5820 can handle high-volume printing, affordably. It can print up to 8,000 pages (colour set) or 5,000 pages (black), with extremely low cost per page with high-volume printing. You can print thousands of pages with the new and improved high-capacity ink tanks, and whenever you want you simply add more ink.
User-friendly ink refill system
Restore ink levels with our easy-access, spill-free refill system. It will help you to improve your workflow with productivity features and print longer without having to replenish ink. Monitor ink levels with transparent ink tanks, and easily replenish whenever you like with Original HP high-yield ink bottles.
You can now avoid messy overflow as HP’s unique spout design prevents ink from filling past the tank’s maximum fill line. Simply plug the bottle into the ink tank and let it drain, no squeezing, no spilling.
Exceptional HP quality
With the GT 5820 you can print crisp, sharp text, vibrant graphics, and so much more. If you’re looking for consistent, professional-quality results try using the world’s No. 1 printer brand.
This all-in-one is designed and built to HP’s high standards for reliable, long-term use.
The GT 5820 will help you to produce standout everyday documents with sharper lines, darker blacks, and reduced smudging on ColorLok® papers. Rely on Original HP inks for durable colour photos that resist water and fading, and last for decades. You can be sure your projects always look great no matter what you print. Create borderless brochures, flyers, photos, and more, right in your office.
Get the features you need for work and other tasks, in this all-in-one, including copy and scan functions, so you can save time and accomplish more using just one device.
What To Look For In Restaurant Management Software For Small Business
In this post we are looking at some of the defining qualities of a good Point of Sale system that can help you through your journey to purchasing a POS for your business.
You recently decided to start a restaurant business. You have found a suitable location. You have bought everything – chairs, tables, utensils – you think you will need to get started.
While that might sound like good news to you, running the business without a good POS system could make your lovely investment a huge money pit. Unfortunately, most POS systems come in different varieties and are made to serve a different set of needs. Finding a good POS can be a mind experience for many people.
In this post we are looking at some of the defining qualities of a good Point of Sale system that can help you through your journey to purchasing a POS for your business:
1. Competitive pricing
Small businesses often run into financial constraints. If you are new to industry, news is that you have entered at a great time. While most standalone POS systems have high price points, the advent cloud computing has made things a little bit better for you.
Today, you can easily find a reasonably priced model cut for your specific needs. News is, there are still many on the market today. And finding the best for you – competitively priced with transparent pricing – may not be easy.
2. Speed and ease of use
Your POS should be easy to single-handedly install and use. Even when it comes to training your employees, it should not be a month-long affair. Few minutes, even for part-timers it should suffice.
- Why is it important? A poor quality POS can be maddening to your employees.
- Does it have a steep learning curve?
- Is the layout too sophisticated for the average user?
Then chances are your cooks, managers, waiters will be intimidated by the POS. That means you will be treating your customers to a dreadful Breaking Bad experience that would surely hamper profitability.
3. Good for keeping inventory
Inventory woes scare every restaurant owner more than a warrior wasp’s sting. Poor inventory could be the easiest deathbed for your business. But if you have devised effective methods of inventory management and reporting, then you are able to tell when and where you make your most money.
Since restaurants are head-to-head with this extremely competitive space, a good inventory-capable POS can be your blessing in disguise. So you can easily and almost effortlessly keep track of every drink, item (and even every ingredient) sold.
4. Excellent reporting features
In the modern business environment, business intelligence is everything. And numbers do not lie. That means as a manager or business owner, you need to have a sophisticated, industry-specific system that gives you numeric insight into what all the departments are doing, items preferences, how time is spent, how many customers have been served, etc.
A good POS should offer real-time reporting and update you with pricing, logging times, inventory, promotional and procurement.
5. Above reproach customer/technical support
If you have ever worked in a restaurant environment, you must be familiar with the panic mode that engulfs the employees when the POS system breaks down.
If you can’t get anyone on the line to help, you troubleshoot the problem in less than 24 hours, think twice before taking the plunge.
Consider buying from the vendors who offer (and can guarantee) you prompt response to your call/emails just when things go awry.
The support team should also be ready to help you with credit card help, training and software upgrades if need be.
Related: Restaurant Sample Business Plan
Your POS should allow connections to other apps and tools that are equally important for your business. For example, if you want to collect customer emails for follow-ups campaigns, you may want to integrate your POS with.
That means when you are sending emails to your loyal customers, you can skip that point of having to update your email list. There so much integration you can do. It all boils to your specific needs.
While it is so easy to rent and equip your restaurant, steering it to profitability is not always easy. To succeed, you need to get efficient systems that help them manage their businesses. Unfortunately for starters, getting a good POS can be a daunting task. And it gets worse if you know your specific POS needs and how to choose the best system for your business.
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