The times they are a’changin’
Business Planning
If it’s not online or doesn’t have a significant online presence, you best re-think your business model. Everything can be bought online and customer service and security is constantly improving. Online marketing and product / service technology is improving and escalating exponentially. So just imagine what it will be like in another 5 years … 10 years. The threats to bricks and mortar businesses loom larger every day, particularly those with substantial investment in real estate. Just as the advent of the supermarket killed off the corner grocery store, so will the internet decimate department stores, electrical stores and other retail giants.
Like lemmings to the edge of the cliff, the march to oblivion has now been accelerated by the GFC. Although there are many assertions bandied around about unlevel playing fields, the real reason is resistance to change and ill-preparedness. It’s been too good for too long. A lot of this chatter and lobbying is merely a ruse to buy time so that outdated business models can be revised.