“If it ain’t broke, don’t fix it.” In the hectic, day-to-day business operations, relying on a tried-and-true approach is often the best course of action.
In many cases, it may be that your current ways of doing things are, in fact, working just fine for your business.
However, this doesn’t mean you should stop trying to find better ways of doing things or striving to make further improvements.
We live in a world today that is constantly evolving and changing in every aspect. Having an open-mind and embracing a culture of change can mean the difference between maximizing your potential or risking your future success.
Change is about looking at the way you do things in your business today and asking the question: “Is there a better way?”
Examples could be customer service, internal processes or how you deliver your product/service.
Change can be as simple as offering more convenient operating hours to accepting payments in a different way, or a more comprehensive change like setting up an online store. Either way, it is about making things easier for your customers, staff or business partners to interact and get things done.
From these examples, we can see that change does not have to be scary or expensive. What it does demonstrate is that you should always be looking for ways to improve whether big or small.
Change as we’ve mentioned can be big or small, however, it is clear that change is necessary to grow and reach your full potential. Having this mindset is the key to continued success in personal and business life.
Let’s look at some things that are changing around us all the time:
Customers – This is probably the most important change to consider. Customer behavior and expectations are different now than they used to be. Whilst technology has played a big part in this, economic circumstances and social responsibility also determine whether customers continue to use your product or service.
Technology – This is the most obvious and constantly evolving change around us. It offers new possibilities and opportunities to improve our lives. For businesses, this doesn’t only mean simplicity, ease and insight but also access to new customers or markets we never had before.
The Economy – With its ups and downs, the economy brings change in interest rates, government incentives, grants, or tax breaks to different industries. All of these things ultimately affect consumer income and their willingness to spend money. In times of uncertainty, business owners have to figure out how to do more with less until things pick up again.
You – The business you started years ago isn’t the same today, it’s probably grown, got more customers and employed more staff. Over time, you’ve had to learn and adapt to both opportunities as well as challenges to get where you are today.
Using anecdotes from our last blog, big brands like MySpace, Nokia and Blockbuster were at the top of their game, but by sticking to their “tried-and-true” approach they did not embrace technology changes and adapt to changing consumer behaviour. For that reason, companies like Facebook, Apple and Netflix were able to win the hearts of the customers, simply because they paid attention to the changes in consumer behavior and tailored how they delivered their products and services.
Many Balikbayan Box businesses have weathered storms that have gone by and are still standing strong today to continue this important tradition.
Indeed the things “we’ve always done it this way” is part of the reason why they are successful, because they found the winning formula and stuck to it. However any change, big or small, that makes it easier for customers, staff and business partners is worth doing. But we have also seen there are important changes happening with customers and technology that should not be ignored.
New Filipino-centric businesses like Beam And Go and Sendah have innovative business models that focus on customer experience and eliminate many of the pain points experienced when sending a Balikbayan Box. The success of these e-commerce startups are due to understanding customer behaviour of overseas Filipinos and adapting with technology to make the experience better.
The world is changing around us. How you choose to adapt and respond is an important determinant of your continued success.
Use this article as a guide to understand the concepts we discussed, which are:
At reternX, it’s our mission to empower customers and businesses with the help of Balikbayan Box technology. You can improve customer experience and simplify your business operations with our innovative platform.
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