Research and Data Analysis
Modern day business is all about research and data analytics. Big heavy weights tech companies like Google, Amazon, Facebook and Twitter have succeeded because they have the most priced data in the world.
Data gives you a clear understanding of how the people are thinking and it makes you aware of their likes and dislikes.
Data is fundamental and every company that has a position in the future should have its own database which it uses to plan and make future decisions. Data analytics is the greatest asset to modern day business, not just business even in Diplomacy and Politics they are now using data analytics to determine how people will vote and what they want the most. Researchers should mine the most hidden edges of the market then the company can make sound decisions on how to build and create a better way to bypass.
In Africa big companies still lag behind a bit in this regard and inturn this opens a very lucrative market for business players to engage and invest in. Each company requires the best data storage facility and those that will provide data storage for big companies with the best security will get handsome checks.
Data is regarded as the most priced asset for 21st century businesses be fond of it. Sharing your data too much gives your competitors an edge to know your weaknesses. Data requires great security and before you engage any tech company to help you with your data, check their reputation and track record.
Technology is the new key to success and data is not an exception. If you want to have a future in business invest in research and data if not you can kiss your business goodbye.
Public Relations & Customer Support Services
A wiseman once said “those that can relate well with people are the ones that are going to change the world because you will never be successful without people”.
Many businesses desire success however they don’t relate well with people. In business if you can’t relate you will not attract customers. Think of any person regarded as a successful business person there is one thing in common their company has a very good relationship with people around them and their clientele base. A good relationship means making follow up and giving after sales service.
Small businesses end the relationship after getting the money whilst big business start the relationship after getting the money from the customer. It’s fundamental to keep up with your clientele and engage them with new offers and products. With them being comfortable with your brand they will also refer new customers so customer support is key to your business growth.
In business there is no business without people hence that’s why businesses invest billions of dollars in marketing. That’s a good way to manage relations. Before a company hunts for the next customer it’s key to satisfy the already existing one, there should be a balance it’s the decision making. If you abuse the already existing customer you will loose the customer hence keeping the already active customer and acquiring new customers is key to the business growth.
Many businesses engage in community charitable initiatives. These are other ways to build a good relationship with the people as an business. Those that are doing it it’s not always the case that they like giving, but they know that a good name sells itself and it becomes free marketing. People will want to know which company is doing ABC and when they know your name they will look for you and start transacting with your business.
Nowadays its very easy to build a reputation especially with social media you can make a name out of nothing however social media can also break you as an business player. One silly post can bring down a reputation that was built for 10 years into ashes.
Social Presence & Marketing
Every position has a certain limitation and advantages attached to it. Success in business isn’t by accident but your presence in the business spaces is vital.
For you to see the stars at night you either have to go outside or look through the window if you are inside. For one to see business growth you have to be positioned at places where major business transactions are made. Imagine as a start up being given a shout out by the president of the Republic or just having a picture with the president. Everyone would want to know what is this business all about so know how to be present at the most important places.
Positioning can evade so many obstacles henceforth every person that eyes business growth should position themselves in places that advances their chances. You have to start associating with places that inspire you and people that don’t only push you positively but support you in your business endeavors.
As a start-up you have to engage more and elevate yourself up the ladder. Engage with celebrities who have a good name in society, given them free products and let them give you a shout out on their social media handles.
Modern day business is all about marketing and making yourself heard because according… of business decisions are made online. If you want to launch a new product timing and marketing is fundamental and social presence will validate your timing.
A business player is supposed to read trends and be abreast with what is happening so that your social presence becomes more competitive. Social presence is all about giving the best product at the best possible time with the best possible price.
Understanding the two can give your business a competitive edge and this can work vis-a-vis with data and research because the data gives you adequate information to market and position your social presence properly.
Never Stop Learning & Be A Good Student
Under the sun there is nothing new you will give. Every basic fundamental discovery is already there. What we you need to do is to learn about those discoveries and perfect them to make your own discovery.
Being a student means three basic things listening, understanding and applying. In Business there is no exception even if your company is providing a new service that is unique business ethos do not change. Learn from those that are making it don’t envy them instead befriend them and learn from them. 21st century gives us the best opportunities to learn for free through social media and various other types of blogging.
You have 2 ears and one mouth which means you should listen twice more than you talk simple. If you can listen you are learning and the one who doesn’t seize in leaning will always grow. Value those with grey hair. They have seen more than you, done more than you and experienced more than you. Find a good mentor who will direct you to more business growth and development.
When you seat down with successful business people take your pen and write down your notes listen and don’t ask too many questions ask the necessary ones only. When you have your chance with greatness its your chance to learn not to challenge. I have seen people asking unending questions just to prove that they are more knowledgeable .
Be a good student, a good student listens understand and apply the lessons.
Adapt To New Challenges & Environments.
Changes are imminent and we can never run away from them however we can adapt and swim in the mix until we get the hunch. 21st Century ways change daily and as a business you should be very flexible.
Adapting to new challenges and environments is key to business success because whether you are in Mars or Venus you should just succeed. Excuses are for the faint hearted. When you once did it before you have experience however things may totally change and as a business you must be swift and flexible to adapt.
Covid-19 challenged businesses to think outside the box because everything changed and those that didn’t adapt to the change sunk. The business environment will never be the same again even if Covid-19 disappears because it has taught us so many lessons on how adaptation can give you a competitive edge.
The human body is designed in such a way that a repeated effort for 21 days becomes a habit and habit build for 90 days becomes a lifestyle. So there is no place or challenge that if you put all your brains, focus and desire can fail on. It’s difficult to adapt but what other choice do you have as a business because the end game is profit.
It’s either you adapt or you fight to change the system completely. However sometimes things will not always allow us to change systems and situations hence the 21st Century business language requires us to learn, assimilate, comprehend and achieve with the available resources.
Be like a chameleon, it changes according to the color that is surrounding it but it never loses its identity as a chameleon. As an business model change your strategy according to the prevailing environment but don’t lose your business model and identity as an business.
Article by Munyaradzi Zindi Chikomba a Research Analyst ||Development Consultant || Columnist || Editor @PerchMediaTrust || Co-founder & Executive Chairperson @Shanduko Foundation. His views are personal and they do not represent any organization or institution he is part of.