In Business You Must Keep Learning

For a company to survive be sure to understand that in business you must keep learning. There is no two ways about it; change is continuous and what worked yesterday or even today will likely not work in a few years or even a few months.

A Case in Point

There was a time when catalog sales were a great business model. Select your products, print a catalog and mail the catalogs to existing or potential customers. The cost to print these catalogs was easily recouped when customers began to call in orders or mail checks to you to make a purchase. However, the internet quickly killed that model. Oh, don’t misunderstand me; there are still catalogs being produced, but nowhere near to the extent as they once were. Think about the advantage the internet provided to both seller and consumer.

On the seller side the cost of printing a catalog was gone. Not only that, but if a seller wants to make a change to the products it carries or the prices it charges that can be done almost instantaneously and the prices can be changed on multiple items at the same time. What a time saver that is. Additionally the seller no longer has the cost of mailing catalogs and can actually reach more people than they ever could have hoped to reach with a catalog. Sellers can also perform small scale tests of potential offering and advertisements to see what works and what doesn’t, thus limiting the amount they must spend in money and time.

For the buyer it is easier to order, there are more buying options, they can comparison shop, and they can read reviews of both products and sellers. Actually good reviews also provide a benefit to sellers as well, and even bad reviews can provide two big benefits to sellers. One, the seller is quickly aware of customer and product issues that need to be addressed and two, the seller has an opportunity to resolve a customer issue satisfactorily and possibly win a long-term customer and even positive feedback that other potential customers may read.

This interaction between seller and customer and resulting changes by a seller is a prime example of the truth that in business you must keep learning.

It’s No Longer Efficient

Not only is there the issue of reaching and interacting with customers, when it comes to in-house operations a business also is undergoing almost constant change. It really wasn’t that long ago that only the very large companies could afford a computer system. Then the introduction of mini-computers expanded the base of companies that could afford it. It was not long before micro-computers allowed almost every business to have a computer system. Now, with the internet, the actual processing power may not even reside at the company and they merely interact via the internet. Think about it though. If companies do not adopt new technologies that help them operate more efficiently then they will be left in the dust and possibly go broke, harming not only the business but the employees as well.

Broke Business Man

Remember that in business you must keep learning if you want to survive and grow. Actually, this continuous learning is fun and you often will find that when you commit to it that in the process you will see new ideas come to mind that you can act on.

If you want to know more, contact AimCFO – Contact

As always, your comments are welcomed.


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