It can be argued that businesses were traditionally built to be predictable, consistent, and stable. Processes were designed to ensure consistent output and to control employee behavior to produce efficient outcomes. I would argue that in recent years Covid19, the great recession, technological change and other factors have transformed business as we used to know it, into a more dynamic environment characterized by a faster speed of change than ever seen before.
1. Accept that Constant Change is the New Normal
In recent years, the business environment has undergone a transformative shift where a heightened pace of change has become the new normal. We are living in a time where anyone has the potential to make an impact. Start-ups can transform technological capabilities, and anyone can share a message with the world through social platforms. While change can be daunting, executives need to embrace change and accept that the future is harder to predict than ever before. Use social media and any online marketing platform you can to enhance your brand. Embrace technology now.
2. Leverage the Possibilities of Big Data
Have an outlet to access industry data. Today large, complex data sets can be analyzed to obtain greater business intelligence and statistical information than ever before. This data can be leveraged to improve the customer experience, product/service, logistics, customer segmentation, pricing, customer retention, inventory management and many other factors. All businesses can leverage data and analytics to make stronger data-supported predictions and optimize performance by obtaining a broader view of its operations. It is important organizations ensure data doesn’t become siloed, so they can fully optimize and take advantage of advanced analytics. Information may not be valuable for long so it’s important your business exploits it and gets utility out of it, to strengthen your competitive position. Do you truly know your customer base… their needs …. wants and desires. By using data, you can determine who has IAQ, water treatment or energy efficient systems that will help our society in the environment we live in today.
The good thing is you have this data at your fingertips when using the ServiceTitan platform.
3. Constant Innovation
Given the dynamic environment a constant focus on innovation is fundamental. It is important owners and managers recognize that innovations can come from anywhere in the organization. Communication channels need to be open to allow for the free flow of information throughout all levels of the hierarchy. Employees need to be empowered to innovate every day and share knowledge. To facilitate this change in organizational thinking, employee performance systems will need to be adapted to reward innovative thinking as opposed to following company created guidelines. Remember your greatest asset is your employees. They are on the front line daily so listen.
4. Agility
Traditional bureaucratic organizational structures are slow to change and thus not adaptable enough for today’s business environment. Organizations need to be redesigned to be more agile; to adjust in real-time as change occurs.
Again, using the ServiceTitan platform you have this agility right at your fingertips. Where else do you have real time numbers that you can proactively relate to your day and react.
5. Face Disruption Head On
It can be argued that while businesses are focused on constant improvement, they don’t always change in the right ways. If we take the case of Blockbuster, the former video store peaked and had their most success years ever in the early 2000’s. In the years that followed Blockbuster continued to improve their operations and efficiency, however they failed to recognize that customer demand could be met better in a new way: through online environments i.e. Netflix; to the detriment of the survival of their business. It is important that companies continually scan the environment in which they operate and constantly research new ways in which they can better meet their customers’ needs.
In the trades we are essential to the survival of our society look for ways to reinvent yourselves in this day and age. Be proactive in your movements not reactive. Be brave, stay safe and thank you to all the essential workers in the trades!!
