By Zeluleko Zet Moyo
ARE our businesses going to endure the dynamic era we live in? Business models have greatly evolved over generations and now more than ever the change is not just gradual but extremely exponential. There are three forces that have proven to be driving forces not only in our era but also in the business ecosystem.
Times define seasons but in this era these three in the business world define the seasons. Both startups and inhabitants of the business ecosystem are affected by these three and they should all learn to thrive through them.
1. Information and Knowledge Explosion
Seasons and times are changing faster than we could humanly comprehend, all because of the great explosion of knowledge and information. Just a click in Google one knows anything they would dream to know about, that’s how easy acquiring knowledge has become.
Businesses like any other areas in life have been affected by the force and its ecosystem has been exponentially driven unconsciously by this force. Business models change daily because what people know is changing daily. The world out there is paying handsomely to those who know.
It’s not just common knowledge and information that is profitable but it is unequaled/unique knowledge that pays. Ones with the knowledge to the current crisis of Covid 19 are enjoying large profits all because they know what everyone else doesn’t know. So if one is a startup say in Matabeleland North and they wish to hit the ground running they should have knowledge and information that every other business man in that region doesn’t have and turn that to a business idea. There is money with your name on it and all that is required from you is to know something every other habitant in that ecosystem doesn’t know and make that your profitable business.
2. Technological Advancements
Science fiction is becoming science facts. Everything that we had perceived as impossible a few years ago has become a clear reality now. The best we thought we had achieved with our Nokia 3310 is nothing compared to the technological advancements we have seen through our extended family of smart phones. Ignoring these technological advancements as a startup and an inhabitant in the business ecosystem is as good as ignoring profits and productivity.
These advancements are clearly defining how and where we do business and if one is to make profits they should by all means possible pay attention to these advancements. All these changes are initiated by human beings and all aim to making human beings life easy.
If you thinking of starting of expanding your business just think of how you can technologically improve human life within your catchment context because the technology required by people in Matabeleland North is certainly different from the technology required by people in Durban. Discover that technology advancement that is relevant to your area of operation and turn that to a profitable business.
Thriving Competition
For generations and generations all we have ever known was competition within our area of operation. A new reality has befallen us as we find ourselves competing with everyone who is in the same line of business everywhere in the world all because of internet.
The exponential growth in knowledge availability that has led to amazing technological advancements has given birth to thriving competition ecosystem. In a world with rather very few monopolies, competitions is a force that has driven businesses to close, thrive, and startups emerge.
This thriving competition, if studied closely by a startup on an inhabitant in the ecosystem it has the power to set our up with great profitability and productivity. Knowing what your competitors do helps you define your business model, uniqueness, and eventually set you up with amazing profits. Any profitable business should exist because of the failures or gaps that the counter businesses are exhibiting, for only then can one be assured of productivity and profit.
Our businesses will only survive this dynamic time if we as the inhabitants of the business ecosystem sail on the wave of these three forces that are driving not only our era but or business ecosystem
