Remember the “old days” when the time with “P,” product, price, and location were the most critical aspects of business growth and prosperity? Getting the right product at the right price at the right place at the right time is still critical. As a small or large enterprise, if you can’t satisfy your existing customers with high-quality products delivered on time, your business is likely to survive after the next downturn.
But even if your business meets the traditional “P,” real progress in the market as a whole depends mostly on advanced technologies. Technology, which a few years ago was not. It may take 5-10 years for a new idea to become truly powerful enough to be recognized in all sectors. But to stay in the game, the young entrepreneur needs to climb early.
The disruptive technology of the Internet has allowed many small retailers to showcase their business in a full geographical area than ever before. Charge out of your space and increase the potential size of your customer base. Companies are talking about wanting to get a “bigger piece of cake on the market,” but if you can increase the size of the cake, everyone can benefit from it.
Develop blogs to provide useful information and show your experience in the field, and again, you increase the size of the market and make your business more reliable. Networking, text messaging, and tweets are becoming famous for marketing companies that want to help small enterprises to identify the technology that will provide the best return on investment.
Websites and blogs are now taken for granted. Without them, you can’t survive. They are using videos on a website or service such as YouTube is essential for small businesses. These technologies have helped small businesses, and local merchants compete with big brands with huge budgets.
When was the last time you took a printed phone book worth £ 5 to find a phone number or business address? When was the last time you folded a paper map to determine the best route for your trip?