Why so many companies will struggle in 2019

Just when we all thought we knew the market we are playing in, and the constant changes that are affecting our businesses, we are yet again about to encounter a dramatic disruption that will see many companies that have been around for a long time, close their doors.

The first thought that comes to mind is the economy, but that will be the least of people's worries. In fact, many companies can roll with the economy but the big issues companies face is their products and services.

What was in or necessary this year, may be obsolete next year, and it's getting harder and harder to predict. Who would have thought you would be ordering an Uber rather than a Taxi, or staying in an AirBNB rather than a hotel? I would never have imagined, until almost overnight everyone was doing it and all of a sudden I too was on the bandwagon.

Housing Industry

I'm building a house and have hired a builder, but with 3D printing and in this case building, becoming the new hottest way in which to build a house, faster, smarter and more cost effectively, a builder might just find that their skills are not needed. Who comes in next? The project manager, the technology guru with crawling capabilities and artificial intelligence technologies that tells you exactly what you need in your house to live the lifestyle you want to live based on your searches, your likes and dislikes and your interactions on social media.

Marketing Industry

In my industry, marketers are running scared, and rightfully so. The constant need to re-invent ourselves and become different versions of marketers, are leaving many of us wondering if we will have a job tomorrow. I know that in 2019, my job will no longer exist. To say that out loud, is terrifying but it is also truthful. Technology can do my job way better than I would ever dream of, and it won't turn up late for work, take sickies, slacken off, or take its time. In fact, everything will be done faster, more in-depth, research-based, fact-based and responsively ensuring that customers get the experiences that they are looking for. My multimillion dollar business may as well go down the toilet!

Entrepreneurs

But I'm not one to sit on my hands and hope for the best. In fact, I believe the best is yet to come and rather than spend my time worrying about things out of my control, I can invent the future. As entrepreneurs, we all have that inside us, but few are brave enough to take the leap after they have successfully done so in the first place.

I won't pretend that going down unfamiliar territory is a walk in the park. It's not. And if it was, everyone would be doing it.

2019 and Beyond

Companies will struggle in 2019 and beyond. Change is constant. People are not as loyal as they once were and the need to find a happy medium is hard. Large organisations may throw millions at change, but their ability to change at the pace needed is limited by the imaginations and scale of their businesses. It has so much dependence on the leadership at the top and their ability to think bigger and be more innovative.

Our biggest threat is also our biggest opportunity. If we don't hold ourselves ransom to our business model or the products and services we sell, we are able to adapt, change and shape the future in a way that keeps our businesses relevant.

www.marketingeye.com

Author: Mellissah Smith, Serial Entrepreneur, Marketer, Technology Visionary