In 2012, Deloitte released a report called Digital disruption: Short fuse, big bang?,1 predicting 32 per cent of Australia’s economy would be impacted by significant business change, driven by technology, within three to five years. This prediction proved to be true.
This is impacting every business’ value – especially where revenue is under pressure.
Across every segment, we’re seeing successful businesses position themselves carefully, to protect their revenue base, retain and grow their clients – and ensure their business continues to thrive.
With lower barriers to entry, new competitors can easily do things better, faster or cheaper.
‘Full service’ businesses lack the resources to do any one thing well - and are.
Clients will find lower cost alternatives – or do it themselves. Offshore providers, online platforms and adjacent players are all competitors here.
Stay focused on your core strengths, and use technology to lower costs and save time to enable growth.
Taking a good business to the next level
If your business is doing well today, it can be much harder to persuade your people to change. Watch former Countywide UK CEO Grenville Turner explain how a healthy dose of paranoia ensures you’re constantly learning from other businesses.