Business

How Business has changed in the last 20 years and why is that good for you?

It is difficult to ignore how modern innovation has changed the business world in the last 20-years. In many aspects, starting and running a business has never been easier, and that raise the question why more people are not business owners themselves?

MARKETING AS THE KEY POINT

TODAY:

Internet, Social Media, Apps, advanced payment methods, fast delivery and dozens of new ways to engage the customers have made the consumers spend more today than they were spending 20 years ago. Today you can reach enormous amount of people to find out about your business with lower cost of investing in Marketing.

20 years ago:

People were advertising their businesses on newspapers, TV commercials, billboards, which is way more expensive. Leads were coming through calls and maybe a referral from a partner, they had a telemarketer.

Conclusion: Today with much lower costs you can market your business, and get way wider reach of people to become consumers of your product. 20 years ago, people had to pay a lot of money for marketing, and hope that someone maybe stop by to their shop.

COMMUNICATION

TODAY:

Mobile phones, Messages, Viber, Whatsapp, emails, skype, tweets, wireless connection everywhere. You can communicate with your employees at every hour, at every second no matter of the distance (of course I still believe that nothing can replace physical presence and eye contact) but still, today we have these amazing communication tools that allows us to communicate on some very different level, to share files, strategy’s, videos, and all of that instantly. And the most important thing, today we can communicate with our customers, to hear them what they think and what they want, which is extremely important. All these communication technologies allow us to be mobile, but still efficient.

20 years ago:

Mobile phones, pagers, they were sending faxes. They were using pay phones at gas stations, when they needed to address something important, that couldn’t wait. And were able only to call one person at the time.

Conclusion: Today you can easily communicate to whenever you want with you team, and with you customers, which is beneficial for you in so many ways. 20 years ago, people did not have that luxury.

TECHNOLOGY:

TODAY:

Technology allows us to save precious time, and decreases the possibility of human error. Also, this is very important for start-ups, because they don’t have to hire a bunch of people for some work that a very few people can easily do when they are trained in a proper manner to certain technology. With this, we save a lot of money because of no need for that much of manpower.

20 years ago:

People were discouraged to start their business, because they couldn’t afford to pay salaries, to a bunch of people they needed for the work. There wasn’t technology that could have replaced a human.

Conclusion: Today’s technology is just amazing, and it is helping every business to grow, and save a lot of money. 20 years ago, people did not have the technology we have today, they needed more money and time to invest in their business.

These are just a few examples of how much easier the way of doing business is today than it was 20 years ago. We live in a multi-media world and things are changing rapidly. The fear of Robots replacing jobs is real. If you have an Entrepreneurial bone in your body, this is the golden age for you. I dare you to try!

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