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It’s easy to think about business as if you were building a wall. You place one brick after the other, use mortar to bind them together, and then build higher upon that foundation. But imagine, if you will, that you were trying to build a house on shifting grounds. This is a more accurate picture of the kind of wall you build as a developing commercial entity. However, you have to act as if the wall will be there because otherwise you wouldn’t try and risk a positive, developing approach. You would be racked with indecisiveness, always waiting for perfect conditions instead of getting out there and doing what you can with what you have.
So, from time to time, it’s important to consider if the foundations have shifted, or if there are any signs of market change. This way, you can avoid taking certain elements for granted, and make certain the wall of your corporate vision remains stable. Imagine how many record labels were damaged by the invention of Napster. This is how deep the changes can go, and so in this post, we hope to help you take a proactive stance in light of that:
Regularly Reviewed Cybersecurity
A DDOS attack, a phishing attack leading to data theft or system vulnerability, your website or other vital services going down, all are consequences to cybersecurity issues that can compound and cause real headaches for companies. As threats evolve and even become turbocharged thanks to AI development, using a platform that allows you to not only routinely audit and improve your cybersecurity approach, but also meet cybersecurity regulations, is worthwhile. Outsourcing to a reliable service is a wise investment in these cases.
Reliable Supply Chain
A supply chain is, by its very nature outside of your perfect control. That’s why it’s important to stock up on inventory where possible, to have several connections and alternatives in place when needed, and to foresee market difficulties in the future. For example, many firms will begin buying large stocks of basic ingredients to manufacture enough for the end-of-year festive order volume they receive. A restaurant might have two or three suppliers they can use for seafood if one is unable to trade that day. This way, you can withstand the knock to your supply chain foundations, and plan for the future.
Motivated Staff
Without good staff, nothing gets done. Even skilled staff might not apply their capabilities well if they’ve become unmotivated and unhappy in the position. This is where it’s wise to ensure they have continual means of staying at your company, be that yearly salary improvements, staff performance reviews and satisfaction reports, in-house training and promotions, and the willingness to listen and be directed by staff suggestions. This is one of the business foundations you cannot ignore. In the long run, your retention measures can be combined and connected to provide a happy and thoughtful workforce who are willing to engage. This isn’t about convincing people to work for you well of course, rather to make the question one they don’t even have to ask.
