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Small Businesses Must Adapt or Suffer
Small Businesses Must Adapt Or Suffer The Consequences
Small businesses tend to be more agile than large corporations,
but in order to take advantage of that strength, they
must be willing to adapt with changing times in order
to prosper and survive. This is especially true when
faced with a difficult economic climate.
Look at some of the corporate giants
that have failed to adapt as the market needs changed.
For example, Kodak failed to adapt to the digital media
market quickly enough, and sadly they faced the consequences.
Likewise, KAO Disc Duplication went by the wayside when
the software industry moved from "floppy" discs to CDs,
while KAO failed to make the move with the market. The
list of business powerhouses that have failed, or found
themselves struggling just to survive, is a long one.
Think about technological changes that
have occurred in the last thirty years or so. LP Records
were replaced by 8-track tapes, which were replaced
by cassette tapes, which where then replaced by Compact
Discs, which are now being phased out in favor of downloadable
digital music. Similarly, VHS tapes were replaced by
DVDs, which are now being replaced by BluRay discs.
Payphones and typewriters have become obsolete, replaced
by cellular phones and computers respectively. Keep
in mind that a business or group of businesses once
stood behind each of those now-obsolete technologies.
If a company failed to stay current, they likely suffered,
or became saddled with unusable equipment, obsolete
inventory, and quite possibly more expenses than income.
Consumers thrive on change and advancement. Advances
in technology can quickly make older technology obsolete.
Business owners must keep their fingers on the pulse
of their industry and monitor any changes, in order
to anticipate how those changes or trends might impact
their company's sales, marketing, production, and support.
Large companies may invest heavily in manufacturing
equipment and facilities to produce their products,
only to find that those products have suddenly become
obsolete due to new or emerging technologies.
Smaller, faster, or just plain different technologies
can quickly turn a company's profits into losses, often
in just a matter of months. The key to avoiding this
is to anticipate market changes *before* they
occur.
Small businesses are lithe, and can make changes in
their business plans much more quickly than a large
corporation. Corporate giants often become entangled
in layers and layers of bureaucracy, which can slow
them down and even prevent them from adapting to the
needs of a changing market. Small business owners need
to learn how to use their size and agility as an advantage,
instead of viewing their smaller size as a liability.
Embrace industry changes and technological
advancements, and find the opportunities that others
fail to see and take advantage of. Doing so can help
you and your business prosper.
About the Author:
Sharon Housley manages marketing for FeedForAll http://www.feedforall.com
software for creating, editing, publishing RSS feeds
and podcasts. In addition Sharon manages marketing for
RecordForAll http://www.recordforall.com
audio recording and editing software.
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be greatly appreciated send an email to sharon@notepage.net
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