The ability to adapt and change is one of the most important skills a business owner can have. In this blog, we recognise 3 business trends that experts tip as the biggest areas shaping business at the moment.
Virtual Reality will change the way we work
Early adopters are tipping virtual reality as the seismic shift in business which will take brand interaction to the next level. From immersive sales and customised experiences to virtual workspaces and meetings (think breaking free from computer screens and turning your workspace into a 360 degree set up), VR will change the way we interact in the world.
It’s also set to revolutionise design where 3D prototype modeling is costly and expensive – testing products in the virtual space will completely change the way we build and manufacture.
It will also have a huge impact on the travel and tourism industry – imagine road-testing your next holiday through VR, not to mention the endless opportunities it will create for the elderly and restricted.
Variable working hours
Employers in Sweden are introducing the six-hour workday which studies have shown reduces sick days and stress levels and increase productivity in the workplace. The concept behind it is working more intensely in a shorter space of time without the distractions of social media or long meetings.
Albeit appealing, the six-hour switch might not sound feasible to you but there is definitely a shift away from traditional work hours, especially as split-based ventures become more popular.
Just like virtual reality is creating new ways to interact, the dynamics of working spaces are changing as fewer businesses have a centralised office, more businesses are outsourcing and working remotely and the 9-5 isn’t the hard and fast rule anymore.
Make sure it’s “Instagrammable”
Today the success of a product isn’t based on whether it’s functional and fixes a problem, but if it looks good when it’s snapped or filmed. It sounds superficial, but given the millions of dollars that social media is generating for businesses each year, it’s worth considering!
We live in a digital world where consumers spend their days online so today the look can have just as much weight on sales as quality.
Embracing change is an important habit for anyone who leads a business. But if you’re not sure how to approach switching things up, The 7 Habits of Highly Effective Small Business Owners is filled with ideas and proactive behaviours to help you move forward.
