Every new year brings with it a new form of excitement and anticipation. The reason is that every new year brings about a “newness” when we can start fresh and change those things that we could do better or things we have been thinking about doing. For us at CEO Blog Nation, we get it. So, that’s why we are excited about 2024 because there will be more and more entrepreneurs and businesses. There will be goals met and goals crushed and that’s why we love the new year and we know you do too!
We asked entrepreneurs and business owners about the pivots they're making this year and here are the responses:
#1- Accelerated digital transformation
Now that online business is just as fundamental as physical storefronts, companies will need to prioritize enhancing their digital presence, optimizing digital marketing strategies, and embracing innovative technologies to stay competitive in an increasingly digital-first marketplace. This should go beyond accelerating digital transformation but also reshaping digital teams, streamlining operations, redefining customer experiences, and fostering agility in response to rapidly evolving market dynamics.
Thanks to Andre Oentoro, Breadnbeyond!
#2- Strategic metamorphosis
In 2024, the compass of my agency will align towards something I think I can safely call a strategic metamorphosis. Namely, I’m planning to delve a bit deeper into immersive storytelling through AR. While this is undoubtedly a technological experiment, I tend to see it as more than just that – it’s a true shift towards how my clients will be connecting to their target audiences. Just picture this: a potential customer, through their mobile device, virtually placing my client’s product in their living space, interacting with it before making a purchase.
Thanks to Leslie Gilmour, BefoundSEO!
#3- To embrace sustainable practices
I’m planning to explore sustainable sourcing options, incorporate eco-friendly packaging, and probably even delve into upcycled stone designs. Besides the fact that my mind will finally be at peace – because I really do want to contribute to environmental preservation – the decision to go eco-friendly will almost certainly resonate with the environmentally conscious clientele, and there are (fortunately) more and more such individuals every day.
Thanks to Niall Lynchehaun, Midland Stone
#4- To embrace digital-first strategies
Firstly, there's an increased focus on digital transformation. Businesses are moving more of their operations online, from cloud-based services to enhancing their e-commerce platforms. This shift isn't just about technology; it’s about changing the company culture to embrace digital-first strategies. Another pivot is the emphasis on sustainability. Consumers are more environmentally conscious than ever, and they expect the same from businesses. This means integrating sustainable practices, from reducing waste to opting for eco-friendly packaging and resources.
Thanks to Shawn Manaher, The content Authority!
#5- To adopt AI and machine learning
This year, businesses, particularly in e-commerce, will likely need to pivot towards more agile and technology-driven strategies. At ShipSage, we're observing a growing need for flexibility in supply chain management and fulfillment processes, driven by rapidly changing consumer behaviors and market conditions. Companies are increasingly adopting AI and machine learning for smarter inventory management and predictive analytics. There's also a significant shift towards sustainability, with businesses rethinking packaging and shipping methods to reduce environmental impact.
Thanks to Ben Pu, ShipSage!
#6- To efficiently manage finances
We are a professional service firm, which means we are on the front line in the battle for talent. Inflation is a huge concern for us because it eats into the buying power of our team members and leaves us vulnerable to our competition stealing them away if we do not keep up with salary increases. We are going to be very mindful of this in 2024, which likely means raising salaries, as well as raising our fees to cover those expenses.
Thanks to Matthew Davis, DavisBusinessLaw!
#7- To create collaborative innovation hubs
Microsoft is currently enjoying a unique collaboration with OpenAI. Likewise, among modern entrepreneurs and business owners, an innovative idea called Collaborative Innovation Hubs is gaining momentum. The idea implies forging cooperation with players from other sectors and thus establishing collaborations that could lead to intersectoral innovations. Collaborative Innovation Hubs are not just about industry disruption, they will breed revolutionary products and services worth disrupting whole markets
Thanks to Meeshka Brand, SandandElevation!
#8- Deepening integration of technology
In the dynamic landscape of 2023, businesses are increasingly required to pivot and adapt to remain competitive and relevant. One significant change we foresee is a deeper integration of technology in everyday business operations. This year, companies will likely shift towards more robust digital platforms to enhance customer experiences and streamline internal processes. Embracing innovative technologies such as AI and machine learning will be key in automating tasks, analyzing data, and improving decision-making processes.
Thanks to Josh Michaels, Money4Loans!
#9- Adopting cohesive team dynamics
As an entrepreneur, I resonate deeply with the need for a blend of passion and perspective to stay motivated. Setting clear, attainable goals and reflecting on the impact of our work is crucial, especially in a year when businesses are navigating unprecedented changes. I've found that celebrating small victories while staying focused on the larger vision helps maintain momentum. In the face of the pivots and changes businesses are making this year, a cohesive team dynamic becomes even more critical.
Thanks to Daniyal Sanaullah, SocialSharings!
#10- By improving digital literacies
One significant change for businesses this year is the necessity to improve digital literacy and capabilities. In my experience with AdmissionSight, we've seen a dramatic shift toward virtual consulting due to the pandemic. Businesses need to adapt to remote operations to survive in the current environment and thrive in the future landscape where online transactions are increasingly prevalent. Enhancing digital capabilities should include investing in user-friendly online platforms, boosting online marketing, and implementing robust cybersecurity measures.
Thanks to Eric Eng, AdmissionSight!