Tuesday, March 30, 2010

A Winning Business Model

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Many companies are now finding themselves in danger of becoming obsolete due to outdated processes, bureaucracy, and close mindedness to new ideas. Reliving the glory days of how "good things used to be" spell death for an enterprise.It is needless to say that what worked in the past sure enough will not cut it in today's global economy. Customers do not just buy products anymore, they buy what the product represents. Customers are also a lot more informed now and have more power than ever before.This translates into skepticism and resistance against being taken advantage of by "big business" and anything that resembles it. Today's winning business model consists of partnerships with clients. In other words you must "earn" the support of your clientele and let them serve as "unofficial" board members. It is their decision that counts the most. Another aspect to the new and winning business model is to partner with other companies who have the skill sets that your firm is not proficient in, yet needs and vice versa. Think of what offerings your company has and seek to find companies that can use them. You'll find many "new firms" are willing and eager to get on board.

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