Importance of timing and decisions in Business

Today, we will talk about importance of business automation and why is it important in today's date.??

Before I proceed with it, I would like to share something personal that happened in my life.??

My father was in the business of photo goods, it was the year 2002, he decided to buy a Photo Printing Machine. It was quite costly but we were happy because it was next move in his business.???

?We purchased a manual Kodak Printing machine, after 2-3 months of hard work it was set up with a good quality photo print.??

?How many of you remember Kodak and Fujifilm's time??

?After completing 36 pictures roll, we had to wait for develop those negatives and then you can print pictures.???

?When everything was set to go on it was the year 2003. We were quite happy that now game would change but something was waiting even worse than how it was.??

?In 2004, Fujifilm's digital machines came and destroyed complete manual market in 6 months.??

?Manual cameras converted to digital and manual printing machines converted to digital.??

We lost our hard-core investment in manual machines.?

?So, what was learned from this story.?

?Even though market was good, decision was good but it was not futuristic. If the same decision had been made 5 years back it would have been a game changer.???

?Sometimes good decisions even can take you to loss side if not taken at the right time.???

?And this formula is even getting more important in today's world as technology is changing every 6 months.??

?It sounds good that you are earning from your old business model quite well but still if you do not convert it into digital, you can’t sustain and survive with the same business patterns in coming years.??

?No matter in which business you are but all your business functions should be digitally aligned with each other.??

?And 3 of your business functions must be digital in your business and those are -??

Marketing – Time has changed to wait for customers to visit your shop, it’s local or online must advertise your brand in the local market so it will be visible to customers. And visibility creates trust and whenever they make decision of purchase product, will must consider product they see on regular basis.??

Sales – To convert a sale from a lead, it totally depends on your process of dealing and it should be pre practiced enough to put right energy. Because “sale requires energy”.??

Customer Relationship – Once an order has happened, it is quite important to have the customer connected with your business using digital support and ticket system. Finally get great feedback which is a valuable asset for your business in the digital world.??

?In coming years, technology will be so smart using AI to give customer complete solution without any human interaction and it will reduce businesses 80% load of customer support.??

?The considerable part is, it is not a one-day task. This process is the same as raising a child.? Your business process must be fed to AI so it can learn patterns and take?right decisions. It totally depends on business cases are taught to AI like you teach?child to make them smart.??

?After implementing digital process, you need to train the AI module according to your business so it will be smart enough to manage your business needs without you or your management team.?

?It is always good to take the right decision at the right time to get maximum result.??

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Happy learning!?