Challenges faced by SMEs are many. But, the pauses raised by big funded franchisees , E-com giants, Direct to customer Business models, Lack of digital infrastructure, Non digitization of Family Run business, Digital Presence of competitors and highly dynamic business models are to be addressed more vigilantly. Most of the Business owners are unaware or less experienced to deal with the above challenges. They should learn how to transform organizations into technology enabled ones and embark on awareness programs for technology adoption.
How to grow your business day by day?
Transformation is the process of bringing change day by day. It all begins with a goal sheet, indicating the daily updates. You must make it a routine to measure the goal and have to implement the required changes regularly. Solving challenges each day will ensure you an expanding happy customer base. Everyday try to collaborate with new business partners. Practice every day cost reduction to make your revenue building process easy. Each time, envision a better organization and make your business growing every minute.
We are living in a fast-changing and disruptive world. Economies are driven by markets and business sustainability depends on compensations, pricing & quick decisions.
Time has arrived for traditional SME’s to think about app modernization, Automations, data driven decision making and developing integrated business models.
Build exponential growth and result oriented organization
Transformational changes should be evolved through multiple business strategies. SMEs must concentrate on innovative customer acquisition methods and deploy continuous customer engagements for customer retention. Designing elite customer experience for customer advocacy and frequently measuring the business performance are cardinal to any business. Finally, one must aim at cultivating a strong business ecosystem.
Asking a few questions today to you, can create a wonderful tomorrow.
1. Is my organization technology driven or people driven?
2. Am I following manual processes or well defined processes which I can measure?
3. Am I still using legacy system because of my technological ignorance and am I not aware of changes in consumer behavior?
4. Do I leverage most modern tools like Whatsapp, Telephony, Social Media , Cloud based automation and Data Analytics in my organizations?
5. Do I continuously monitor my Competitor & Employee activities?
6. Do I have an IT consulting partner who can advise me in this fast moving digital driven world and constantly up skill my employees?
Final thoughts
Digital transformation enables the SMEs to be more efficient and economic irrespective of all the challenges in the field. In a disruptive world, getting the proper digital guidance from expert hands only can help you to grow the business. Do monitor your business, analyze the lags and take immediate digital measures to cover it. Your digital transformation journey is going to be exciting.
