Resolutions – whether you make them or not, there is no denying each new year brings opportunities for change. Small businesses face an unpredictable twelve months, so resellers must start with their best foot forward. Here is our guide to some areas where resellers can resolve to evolve in 2024
It may not be possible to anticipate every challenge, yet with a well-defined growth roadmap and a strategic plan, businesses can steer toward achieving both short-term and long-term goals. With a clear focus on key improvement areas, resellers can enhance their capabilities and position themselves for a successful year ahead.
Diversification: evolution or revolution?
Diversification is integral for small businesses. But what should diversification look like in 2024? For resellers looking to take a strong position this year, diversification should be about finding the balance between evolution and revolution. This may mean expanding product offerings, moving into adjacent or new markets and predicting trends. Diversifying creates opportunities to reach new audiences and offer more comprehensive services.
Business evolution entails making gradual yet lasting adjustments over an extended period. When an organisation opts for revolutionary change, it typically leads to radical transformations in its products or services. Exceptional organisations, aiming to stay ahead and achieve evolution, frequently embrace revolutionary changes.
Adapting for agility
We find ourselves in an era of unprecedented unpredictability, characterised by swift economic and social changes. Business survival now hinges on agility, the capacity to promptly respond to shifts in the market and customer demand. In recent years, resellers have demonstrated their ability to navigate change adeptly, and 2024 presents an opportunity to carry forward these valuable lessons. To enhance agility, resellers can begin by refining priorities to concentrate on key areas of development. Fostering an agile culture that champions trust, teamwork, and a proactive openness to change is crucial. There is an adage – “If you do what you’ve always done, you’ll get what you’ve always gotten,”. An agile business promotes employee engagement by creating an environment where everyone can contribute suggestions for improving processes.
Embrace new technology
In a fiercely competitive market, smaller businesses may hesitate to invest in innovative technologies and ideas, especially when larger competitors can afford to take risks. Despite this, the long-term advantages in terms of efficiency, productivity, and overall growth can empower resellers to maintain a competitive edge. Anticipated technology trends for 2024 include the continued prominence of AI, intelligent conversation tools, and assistive technology. It is crucial to acknowledge that adopting new technology can exert a lasting impact on consumer purchasing behaviours. Successful business leaders not only understand what customers want to purchase but how and where.
Viewed from a different perspective, making resolutions is essentially akin to setting objectives—something business leaders engage in consistently throughout the year. Nonetheless, given the heightened emphasis on change that typically accompanies January, this serves as an opportune moment for resellers to pause, assess, and gear up for the upcoming year.
Be the first to comment