Last Saturday I was one of the panelists at SMEs 3.0 Transforming for the future. A conference organized by TIE Udaipur & TIE Delhi NCR, sponsored by IndiaMart
Our panel discussed on Changing Gears & Changing Business Models.
What I Shared here is –
- Internet came to India in 1995
- Between 1995 – 2016 we shifted from a Brick & Mortar world to a digital world wherein a lot started to happen online
- Between 2016 – 2019 The digital world transformed into a connected world. The changes in past 3 years have more impact than the previous 21 years
The second piece which I shared was –
- So far we have been doing Business By Chance –
- IDEA – Which comes out of a market requirement, or circumstances external to us
- BUSINESS – Driven by market forces
- STRUGGLE – As an aftermath of unstructured growth
- To have a sustainable business we need to shift gears and do Business By Design
- DESIGN – Driven creation, given by future
- DEVELOP – Focused on Growth, driven by today
- DIVERSIFY – Opportunities to expand, duplicate the success and divest from the business.
To sum up, the business of future is quite different from the business we are used to. Unless we take note of the changing user behaviour, the impact of technology and Socio-Economic dynamics we may miss the bus to future success.