Harness the full innovative power of your business. Create a better future with your existing resources. Focus your assets on the opportunities offering the greatest return.
Innovate or wither and die?
Is your business in zombie mode? Is it ticking along but with a little inspiration could be zooming along! Businesses which do not innovate could wither and die in the changes which are already in motion.
If you think the decade has been changing rapidly fasten your seat belt for the next decade! Even the best businesses growing healthily are going to be subject to existential choices.
Take banking industry for example. There is absolutely no reason you will not be banking online with Facebook Google or Amazon instead of Lloyds Barcalys or HSBC.
There are already internet only or app only banking businesses thriving in the UK. They do not have the costs of bank branch network. Fewer employees delivering what especially the younger generation want online. These apps will eventually sell car insurance house insurance mortgages credit cards et al that traditional banks offer. Why could Facebook Google or Amazon not do the same with their astronomical piles of cash. Yes I mean cash as they do not need to borrow money to lend money to you which will make them even more profitable should they start their banking arm of the business in UK.
If traditional banking industry could fail to survive in future why do you think your business is safe?
Is it not a little arrogant to think your great business is going to survive the coming changes? If the UK ever gets up to speed with 5g which clearly it eventually will then another building block will be in place that will destroy many traditional businesses.
5G is both an opportunity and existential threat to many traditional businesses. Just because what you have done works for your business model does not mean it will work well in future.
are you really getting the most out of your solid business assets?
Even if you have a great business now are you sure it is operating productively? The greatest killer of UK economic growth is poor productivity. The UK does not perform any way near as productively as its developed competitors in the global marketplace.
Could your business grow faster if it took the slack from poor productivity out?BusinessRiskTV
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