The Future of online Business

Published on this site: August 18th, 2006 - See more articles from this month

Emerging technologies have helped us to do more, communicate more quickly, extend our outreach, and save time. The strength of a home-based business is in its flexibility. Successful small business owners will be committed to listening to the needs of the market place and responding in a timely manner.

What other trends are occurring in the marketplace?

1. Security - Just as the Internet has created a world of opportunities, it has created equal opportunities for fraudulent activities. Any business that can provide security in the marketplace (such as secure ordering), or trust in the eyes of the customer (such as proving your product does what you say it will do) will win.
   
   
2. Delegation - While technology has given us tools to do everything more efficiently and accomplish more, we still only have eight hours in a day. Smart business people will choose their opportunities wisely, focus on what they do best, and outsource the rest. Those who provide that "outsourced" timesaving help are destined to profit. Paul R. Gudonis was
   quoted in Fast Company magazine as saying, "I would borrow a suggestion from a friend, Geoffrey Moore, who wrote Crossing the Chasm. He said, 'Figure out what you want to do better than anybody else in the world, and then outsource everything else - whether it's the payroll system, technology operations, or design work. Then, focus on creating your competitive advantage.' Because of the huge costs in IT, ask, How can you
   leverage the investment that others have made in order to direct your investment to the areas where you want to create competitive advantage?"
   
   
3. The human element - In a day when many large businesses are moving to automated phone systems, people crave to speak with a live person. Carefully preserve the "personal" elements of your business. Answer your phone. Listen to your customers. Go the extra mile. Offer top-notch customer service. Those who find solutions to providing better, more personalized customer service will win the war for customers.
   
   
4. Monitoring and management tools - Efficiency is the key to doing more with less, surviving, and thriving. Anyone who can provide software, tools, and help for relieving overburdened business people will be successful. Special areas of interest include time management, organization, and life/business strategy.
   
   
5. Humanitarian Efforts - The U.S. tragedy of the bombing of the World Trade Center and the Pentagon on September 11 has moved the world toward a greater enlightenment and yearning to step up humanitarian efforts. People yearn to live fuller, richer lives. We are hungry for spirituality and answers to life's most pressing questions. There is a definite future for any tool, service, or book that can bring assistance to those who need it and help us to lead lives of peace, power, and prosperity.
   
   
6. Learning - Life is too short and technology moving too fast to try to discover answers by ourselves. Learning is the key to growing and prospering. There is a strong need for any programs, tools, books that can help people to jump the learning curve and achieve and experience more in life and business
   
   
7. Flexibility - Technology is leading us to be nomads. We can literally pack our business up into our business satchel and head out into the world. Not only will flexible businesses survive, but also there will be an ever-growing market for technologies or services that enable businesses to be more portable and flexible. By the same token, personal growth programs will empower business to breed a new type of executive leadership that thinks out-of-the-box and quickly embraces new opportunities.