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The Biggest Factors That Are Changing the Business World

Lewis Robinson Feb 3, 2020
The business world is a living, breathing organism that changes with the time. While customers tend to love the advancements they see in the business world, many business owners fear this change. Change can mean expenses, and it can be confusing. However, if you stay up to date, you will be with the leaders in your industry.

1. Digital Transformation

Everything is going digital now, but what is digital transformation? Most companies are going paperless internally and with customers. This makes storage of customer information easier. If you run into an emergency, such as a fire, the information will still be stored in a safe place. It also helps the environment when we don't use as much paper every day.
If you are still in the dark ages when it comes to technology, it's time to update your office to stay current. New technologies make thins more efficient and save you money in the long run.

2. Social Media

As a business, you can use social media to really boost your business. You have access to millions of relatively local people right at your fingertips. When used properly, you can generate a lot of business. You should create social media accounts for your business on the top platforms to reach as many people as possible.
There are even programs that allow you to manage all of your accounts in one place. Post multiple times a week to stay relevant. Be careful not to flood people with social media posts, or your friends and followers may decide to unfollow you.

3. Online Shopping

While the internet offers a lot of help with social media, there are a lot of other businesses selling products online, too. Online shopping means there is a lot of competition. People don't even have to go to the store to get the things they need anymore. You need to find a way to stand out with great deals or the best products available.

4. Economy

We are living in a pretty wild time politically. You may not be able to see it in your day to day life, but the politics we experience today affects business greatly. This is especially true when new policies come into effect that will make a difference in the economy.
You need to be ready to fight through when the economy is bad and enjoy when it's doing well. Get involved in your local politics to help make a different for you and other small business owners.

5. Cyber Security

When you have sensitive information about your customers, such as credit card numbers, you need to keep that information safe. Customers will not shop at your company if they are worried about their information being compromised.
You should make a decent effort to keep your computers safe with antivirus software and safe practices. Do not leave your password out for other people to easily access. You should also make a point to lock your computer when you leave your desk. Finally, only grant certain people access to the sensitive information.

6. Social Concerns

You need to pay attention to the issues your customers care about. Your customers may feel strongly about gay rights, #Metoo, or protecting the 2nd amendment. Be careful not to post things online that could possibly offend your customers unless you're purposely trying to go for a very racy, edgy vibe.
For your business, it's best to avoid talking about controversial issues at all. You are able to voice your personal beliefs in your spare time when you aren't wearing your company logo.
Running a business gives you the freedom to be your own boss and make the decisions. Make change and advancement a priority for your business. That's the only way you're going to keep up.