This month’s focus: Building A Business To Stay In Business
Today the new buzzword phrase is known as “The internet of things.” i.e., everything is being transformed or enhanced by something directly related to technology residing on the web or cloud based.
Business after business are finding themselves outmaneuvered by others that have embraced many web-based services that have allowed them to operate and compete with near zero overhead. Brick and mortar replaced by “clouds.” Face to face sales replaced by affiliate programs and much, much, more. Yet, at what price might all this seemingly free overhead cost? And are you ready to pay the price?
Case study: Today many are finding services they relied on for their daily operations can be gone overnight. Partnerships, or affiliate programs can be both changed, cut off, or out right discontinued leaving many not only up a creek without a paddle, but now unable to afford a replacement. Many affiliates that had built viable and substantial businesses were left high and dry when Amazon™ announced a shutdown of one of its affiliate programs in California. Apple™ has dropped very popular podcasts for what they deemed as using Apple logos improperly. Facebook™ has changed policies where all those fans you’ve built up to engage basically don’t get engaged unless you pay up. Popular subscriber channels on Youtube™, Vimeo™, and others have found their accounts closed or videos taken down for seemingly unjust reasons with no real way to plead a case for wrongful actions.
If one relied on traffic to their website or business based on search engine optimization (SEO) near overnight they’ve found their ratings from top front page to back of the bus. Search now considers the once heralded SEO elite as barbarians that need to be shunned. Restaurants and more have found that all the reviews they both asked for as well as deserved have either been removed or cut down because of overnight changes in policies from Yelp™ and others.
The internet has brought about lighting speed changes and efficiencies that greatly enhance as well as propel a great many business forward to increase profits by streamlining and reducing overhead. However, this same technology can change on a dime overnight sometimes without warning to leave many businesses without key features they relied on resulting in not only signs of disruption, but for some – out of business signs.
© 2014 Mark St.Cyr
Profiting At The Bottom Line™ is a monthly memo, which is pithy, powerful, and to the point. It focuses on innovative techniques and or ideas that you can put to work immediately in your daily or business life.