Good, bad or indifferent, if you are not investing in new technology, you are going to be left behind – Philip Green
Why fix something that isn’t broken right? Wrong! Outdated business practice will put any organisation at a disadvantage to those competitors who choose to keep up with new and innovative practices and technology.
In a recent TED talk, David Epstein (2014) explains that in 1936 Jesse Owens, an American sprinter, held the world record in the 100m sprint at 10.2 seconds.
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Today, this world record is held by Usain Bolt at an impressive 9.58 seconds. Now, this significant difference is not due to the human species drastically evolving but rather to the evolution and adoption of new technology.
According to Epstein (2014), a sport science expert, If Jesse Owens were to compete with Usain Bolt today, with exactly the same technology, he would finish within one stride of “the fastest man alive”.
Just as in sports, keeping up with new tech is a key factor in staying competitive and relevant in business.
New technology and the application of innovative theory and practice has the potential to speed up and streamline communication and business processes.
Sales mobility systems, for example, have the ability to facilitate quick and easy commination and information sharing between staff, ultimately speeding up the sales process which, in turn, leads to a greater profit margin.
If you are out of the loop, don’t panic but act fast. Start by evaluating your website.
Today the best way to find a good or service you are looking for is to take out your smartphone and “google it”, and there is nothing more discouraging than an outdated website that isn’t user friendly or appealing to the eye.
Additionally, social platforms are great for brand visibility and communicating with customers.
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This doesn’t mean you have to #keepupwiththeKardashians or like every one of your customers’ posts but a helpful hint or a positive update on your business serves to add value to your brand.
If you want to take it a step further, establish yourself as a thought leader by writing a post or two on linked in or maybe contributing and article to an online trade publication.