That buzz and excitement of running a fast-growing business is second to none. There is that familiar spark, similar to when a business first starts out for the first time, combined with fresh challenges and new obstacles that any growing business has to overcome.
Sometimes it can feel like ‘the business of doing business’ is taking over, but instead these issues can be framed into something much more positive. We call these ‘nice problems to have’ – because it means you’re obviously experiencing success.
Just like Cisco, big businesses can be innovative and agile. With the right choices, made at the right times, the cumbersome loads that slow your competitors can be avoided. Here are our five ‘nice problems’ to have…
1) The need for better connectivity to stay ahead of the game
A fast-growing business requires a technology foundation that integrates connectivity, security, automation, collaboration, and analytics across the entire business value-chain. This is all in the context of digital disruption. According to Cisco’s own research four in 10 industry incumbents will be displaced by this disruption over the next five years. It means the smart ones are investing in technology to build new business models, processes, and systems that bring connectivity and visibility into every aspect of their business. And they’re harnessing these new connections to enhance customer experiences, and empower employees…why? They need to stay ahead of the competition.
2) Satisfying the digitally-demanding customer
The world is in a state of ‘always-on’. It means consumers have access to digital services at their fingertips, and expectations are soaring as a result. Providing a seamless omni-channel experience to each customer across every channel of interaction lets digital businesses strengthen customer loyalty. At the same time, it lets them gain deep insight into their customers and their behaviour. This is so they can improve products and services and predict future purchases.
3) Making sense of all that data
As more and more devices get connected, companies have the potential to connect to and collect data from every extremity of their value chain. Cisco predicts 50 billion objects will be connected to the internet by 2020. This sets the stage for new ways of doing business, while enabling organisations to disruptively transform existing business models. Using the best in class analytics solutions is a way of understanding these vast swathes of information. The result is faster time-to-market, leaner operations, and greater agility to respond to market changes.
4) Retain and attract the best workforce
Digital businesses need to be able to support the multi-generational workforce –they have to cater for a wild variety of work styles and cultures. It means giving employees the tools to be more connected, engaged, and mobile (so they can work from anywhere). A digital workforce requires nonstop connectivity, rich collaboration to support deeper engagement, and security everywhere. With these capabilities in place, businesses can increase productivity and improve their ability to attract and retain the best people.
5) Flexibility in your software consumption…really?
Cloud is the foundation helping fast growing companies undergo digital business transformation. As you continue to innovate and virtualise your business, you are often slowed down this complex and fragmented space. When you are struggling to keep up with the pace of growth, the last thing you need to be worrying about is if you have brought enough software license agreements each month and involve procurement in the process every time. Consider flexible consumption models that allow you to add more instantly, without the need to fine extra budget.
For more information on easy IT to help you stay innovative see our solutions for growing businesses.
Authors
