Where is the business headed
From Henry Ford saying “You can have any colour, as long as it is black” to a customer saying I want to have a Lamborghini in pink and Abraka dabra Lamborghini in pink! (Like seriously though). Anyway the whole priority shift from manufacturer is to customer is not unknown. Now the customer is the King and kings are queens are just cutting ribbons. This shift has also changed where the customer rules and the services provider / manufacturer is more worried what customer says than what the product has got to say. The valuation is volatile like gas, something out of the blue has a huge valuation and somebody else has reduced their valuations.
Now few things which we have to understand. We are looking for more things but at a cheaper prices. The technology is enhancing faster than we know, not because it is the need but because the technology providers have to survive or somebody else would take over. Need to be near the customer and not the other way round wherein we can expect the customer to come to us. Personalised, remembering the customer is very important, the customer’s history and favourites is a record not to be messed up with in case the customers come back ever. Band wagon effect works very bad, irrespective of what the facts are and by what time it is brought to light and justice, you are already judged. Classic example Nestle’s Maggie in India they had to re brand the whole thing again, cause of a troll. Snapchat’s CEO comment on India and Spain, reduced down the rating on the playstore. Now has the quality of the app really turned worse no, not in reality but the customer’s swing has costed the rating to go down. Now just for a moment lets evaluate has the app the problem or the sentiments of the consumer?
We are moving in a world wherein machines are doing a more precise, effective, efficient job. The difference in the kind of jobs we are off to create are either doctors, engineers or low paying as cleaners, gas station executives etc. Now we are unknowingly or knowingly creating / helping to build a larger wall between the have’s and have not’s. Which may non existent in reality i.e. not because it is bad / not worth it but because we triggered a band wagon effect and bad customer rating and boom it is not worth anymore. The human biggest asset is to be abstract, giving a perfect answer is not far away with the development of artificial intelligence, then what? There will be something else not because we will get better, but because we would fine something else to work upon. Is this shift a good one or a bad one? That is something for you to decide. But majority of people were into farming a century ago and hardly few now in the agriculture sector is not because we are eating any less or the population has reduced it is because technological advancement.
So how to go about it, few points we can take care of and few are ideals
If we have not used the services / products, lets not add comments / rating just cause google / facebook is asking you to contribute
If you have been to a restaurant for brunch thinking they would serve breakfast which is not in the menu it is not the problem of the restaurant it has got to do with you not reading the menu and available information. (It goes for any kind of business / service)
The above were the ideal here are what we need to do
Keep learning, nobody can take your knowledge.
Starting again is the new thing. Honestly starting again is the need, you don’t live with same job all your life, because the companies don’t last all your lives. The average american business had come down to 34 years. A human ideally would spend more years working. You should be able to adapt and start working in multi diversified environment.
Love it, hate it, deal with it, technology, consumers are going to keep changing and more demanding.
Loyalty, insults, monitory crunch and differences is the social animal’s new reality, either we deal with it or resolve it, there is not no avoiding it.
Start trading back in money and just not on valuations.
Keep growing, try the blue ocean strategy live and allow others to live. Monopoly is best for board games.