Running a business is more than a full time job. For many business owners it can be like having two full time jobs with some extra work on the side. But if you own your own business you know that you would not trade that feeling of creating your own solutions for anything in the world. But like everything else, the world of business has been hit by changes, many of them coming along because of the way the internet has impacted all aspects of our lives. So where are these changes going and how will they impact business in the next decade or so? We took a look at several aspects of the business world that we feel will experience the impact of the net and for the good.
As you are probably aware, more and more of the workforce in the business world have left the cubicle office behind and are working remotely. This is a trend that will continue and because of it businesses will need to rethink their relationships with the people who make their businesses run and grow. Contract work is becoming more widespread as well. When your workforce is not nearby and they are not your employees, how do you keep their loyalty? It all comes down to understanding their needs. As business finds ways to be more flexible, they will find a worldwide workforce ready to partner with them as contractors who design their workday to fit with their needs and not their employers. It is time to be ready for that shift and use it to your advantage.
Of course keeping overhead down becomes a different set of problems when your workforce isn’t always in the office. Since many offices began to adopt flex time where their employees only come into the office one or two days a week, they have found that their business electricity rates have gone down as well. In many cities the vacancy rate for office buildings has gone up as many new offices only need half the space they once did. When large multi-national corporations start to adjust their plans by only renting half the area they normally would for new office space, it is time to look at how we plan our downtowns.
Cutting the cost of large offices full of half-empty cubicles and instead allocating that money to enticements that keep contractors working might be one shift. Reducing parking spaces, shifting to co-working that can include sharing administrative staff with another business are all cost cutting moves many businesses are doing as part of the new business reality. For any business these new cost cutting concepts are a way to make their business more successful, and it is the smart business owner who knows this and takes it in stride.
November 15, 2019
October 11, 2019
September 26, 2019
September 15, 2019