Your business has survived many ups and downs, and you continue to improve processes to become more profitable. During the last recession, many companies like yours held back on investing because the competitive landscape was shrinking. With the reduction of competitors, and fewer new companies targeting your customers, investment in new processes and human capital was unnecessary and unwise.
The opposite is true today as we enter a cycle of rapid expansion. While economic cycles remain somewhat predictable, the forces behind them are moving much faster due to technology. Where previously it took several years, or even decades, for emerging businesses to “tool-up” and become competitive, now they can market, produce, and sell to your customers in weeks with just a website and a logo.
Employees can leave your company and become competitors almost immediately, especially when they see more efficient and profitable ways to be successful that you may be cautious to take advantage of. Some of this mutiny will fail, but that failure rate is decreasing as small business technology becomes more available and more powerful.
In a cycle of expansion, you must make a choice that will ultimately determine the path your business takes. You can resist change, and continue down the cautious path that helped you weather the recession, or you can embrace the expansion and recognize it as a signal to improve your business processes to stay ahead of emerging threats.
Either way, you will play an important part in your industry’s ecosystem. Companies that view this expansion as an opportunity to improve processes heavily rely on the companies that resist. The companies that resist change; their customers are yours for the taking if you can offer better product, service, price, or experience.
Just like your company, technology companies are subject to the same market cycles. Recession forces us to be introspective and focus on deep internal systems/support improvement. Alternatively, during times of expansion, we explode with new tools so that our clients can stay ahead of the constant barrage of innovative (and sometimes fleeting) tech fads.
As a mature business software company, we offer over 30 years of experience helping companies like yours through every market cycle. We’ve outlived most of our competitors by decades. This is because we’ve grown to distinguish smart business technology from shiny business technology. If you are in the market for new business software to improve sales, increase production, reduce labor, and build customer loyalty, we would love to talk to you.