Looking to service a technique or process in your business to maximum capacity?
Another business could be the answer and that's what transformation is about. It's keeping the innovation going and looking at a possible cost reduction to improve the effectiveness of a business. Some of the areas that can benefit from a business transformation include recruitment, marketing, project management among many others.
We asked entrepreneurs about the business that could transform their business and here are the insightful responses.
#1- eCommerce operations automation
I think the era of automation has already started and it is the right time to invest in any software/services that allow us to automate our business. I find eCommerce operations automating software absolutely useful for transforming any eCommerce business. It lets you run your routine tasks on auto-pilot so that you can focus on improving your services or create strategies for your business growth. Streamlining recurring activities like generating order, creating invoices, preparing shipping labels and much more can be automated hence saving 50% of your time. Automation leads to faster processing of tasks and reduced turnaround timelines, saving you and the team huge efforts.
Thanks to Krishna Jani, Orderhive!
#2- AI for two things
Currently, the process of passing on knowledge from one employee to another is costly. Distributed is developing technology that could transform the recruitment process of my company by using AI to mimic the skills of my other employees and perform the digital functions new employees would have. This may help to streamline my overall business, although I worry that the monopoly of a few people’s knowledge could stifle innovation.
Thanks to Ben Mirecki, Carpages.ca!
#3- Augmented Reality apps and tools
Without a doubt, Augmented Reality apps and tools, once they become more ubiquitous and accessible, will transform and supplant communication and presentation coaching and training businesses like mine. In fact, some combination of AI and AR could easily take overall business and executive coaching. As much as it seems like these services are dependent on human-to-human interactions, I think it would be naive to assume this. The combination of the predictability of behaviors when communicating/presenting with the sophistication of technology that simulates real world environments (think autonomous vehicles!) is potent. In fact, all of talent development and even HR should be anticipating the technology and how to leverage it rather than facing obsolescence.
Thanks to Beth Noymer Levine, SmartMouth Communications!
#4- Drone delivery business
My company is a small-scale online retail company and one of our major challenges is proper logistics. Customers are getting more and more demanding with their delivery needs and urgency. A drone delivery company will offer a great boost to the way we conduct business. For starters, several problems encountered during traditional delivery will be instantly eliminated. Also there will be far less cases of late or incorrect delivery, as goods can be sent out on request to the exact location of the customer.
Thanks to Joe Flanagan, Tacuna Systems!
#5- Virtual tailor
As an owner of the online clothing store, it is easy to see trends towards personification. The future business of a virtual tailor would definitely transform online fashion shopping, enabling to sell clothes and accessories specific to one’s taste and body type. Imagine you being “dressed up” just by uploading your photo & body measurements? Checking the length, cut, size and look before buying a garment? And saving $$$ on returns and exchanges? Luckily, this is the matter of not so distant future.
Thanks to Yulia Nikonova, Via Provincia!
#6- Integrated account-based marketing
A company that develops an integrated account-based marketing platform that includes a comprehensive CRM, analytics, a target account scoring feature, look-alike modeling capabilities and other crucial martech elements tailored to ABM would have a significant impact on B2B demand generation. Today, no such integrated platform exists, requiring B2B marketers to use multiple martech tools to improvise a holistic ABM management system.
Thanks to Alexander Kesler, INFUSEmedia!