New world order asks for new businesses

There is a huge but fast global transformation process is underway. The triggers have been the mortgage crisis in 2008, and then a recuperation period for the world economy but while just starting to question if the world economy was recovering then came the pandemics. The next trigger has not even waited to question if the pandemics hazard was recovering since Russia-Ukraine war started. In case these triggers have come one by one the world order would continue its usual way with some little changes. Hence these triggers coincided in a small time of world history, the overlapped effect of these triggers is having resonated results with high impacts on the world order. There are signs of substantial changes in the world’s last 40 years’ convention. The balance between getting possession of the technology or the natural resources is shifting in favor of technology faster nowadays. All of these recent triggers and counter effects denotes us that the traditional competences of any kind (whether for the states, businesses or individuals’ level) will not meet for the needs of coming new period (or maybe we already are in the new period of world economy and politics?). In this regard, countries are revising their traditional political approaches and global companies are changing their long-term strategies. The daily life, affordability and the demands of individuals are also changing in the course of this transformation. Meanwhile the old is getting “very old” fast, “new” is becoming “old” faster than ever and more “new” is entering to the stage each and every day. Under all these circumstances we must get prepared for the “new” as micro, small and medium sized enterprises (MSMEs). The most important mission of the MSME owners and managers will be to lead out in this need (at least to cope with) for the coming next 10 years. The most wanted talent is the strategic management competence of the owners and managers for this period. It is intended in this article for a brain storming purpose needed for MSMEs to stay “new” while the world is taking yet another new turn. The structure of the article is more suitable for the businesses in B2B where the customers are entities not individuals. But it can easily be suited for the other businesses if the focus is shifted to the suppliers which are also very crucial for the success of any business.

All the developments in the global level have an increasing effect on uncertainty of everything. It is the most vise strategy to enlarge the floor where a business is standing on. If we translate this sentence for MSMEs; “enlarging the client and product/service base should be the first thing to bear in mind”. MSMEs must improve new customer acquisition performances. Besides that, you may have some current clients you cash on low for which you should also go over them and improve your gains on them. Normally a new client is preferred to be the amongst of reliable potential customers in the market. But there is also a potential of “new but bright” companies around, expected to be strong businesses of the coming future. Even if you are able to recognize them, there are risks for working with them. This is the point where the experience, market intelligence and strategic management talent is needed to co-operate.

New world order is needing new competences from the companies, and it may already be in there in the second generation of the family. That’s why any business need to integrate the second generation as this is a sign of integration of new talents needed nowadays. As the world and the market is changing faster ever, successful companies will not retain their successes in the future by performing the same they have been doing. There is a need for “new blood in the veins”. The source of “new blood” needed for the MSMEs is only there inside the family or the company. While it is not easy to find out the talent outside the company, it is even harder to keep them in the company structure for the long term. You need to have a client base with new competences for complying with the new world order. And you need to work with the businesses successful to integrate the second generation into the company.

Technology will become more critical in the strategic level for the long-term success of any business. Businesses staying closer to the innovative technologies, investing in technology, and using technology effectively are expected to be young. And you need to increase the number of customers of this kind in your client portfolio. This kind of businesses should be the priority for your efforts to incorporate new clients into your company.

Companies with more value-added products/services that differentiates them from the mass competition and with Research and Development (R&D) ability are technically closer to be “new” in the new world order. That’s why any business with this kind of customers is expected not to be “old”.  In addition to that, companies acting proactively on expanding their business to new markets will be lowering their market risks while having a potential to raise their profitability. If you have such clients in your portfolio, it will also lower your risk of collection. One thing to remind that it has been a great achievement to incorporate digital marketing channels into the marketing and sales system in the past. But it is not accepted as innovative anymore and it is rather becoming among traditional approaches. The companies invested in digital marketing channels for the last 10 years has already become “big companies” or corporate businesses. It is now mandatory to invest in digital channels for not to become “old” in the market. You need to take care of your clients using digital marketing channels for the long-term success of your business

It is time to end the article by revealing that all you need to achieve in your client structure given above is the track you should also be on it for the long-term success of your business, too in the post mortgage crisis, post pandemics and post war era.

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