2017 has been a whirlwind of a year so far in the business realm, what with cryptocurrencies rising to a value far above any national currency in the world, and the cloud becoming the widely accepted medium of operations along with data storage. On top of that, there have been several technological advancements that have transformed, and still threaten to transform the landscape further.
In this blog, we will talk about some trends and movements, related to both technology and practices, which will change the way small business will function in the coming year. The change may be for better or worse, however one thing is for certain, and that is the radical shift it will bring in business practices.
3 Trends which will Affect Small Business Operation in 2018
To that end, following is a list of trends which will affect small business operation and maintenance in the coming year.
Integration into Virtual Reality
Cadillac has become one of the first major companies to integrate their operational model completely into virtual reality, in the form of a virtual dealership that can be traversed through with the help of a virtual reality headset.
Yes, VR tech is not limited to entertainment media anymore, as progressively more companies are using it to enhance customer experience.
Starting from scratch with such technology will be problematic for smaller businesses, and unless they can fully base their business practices around the VR experience, there really will be no use to possess the VR tech as a secondary product experience medium.
Big Data May Become Exclusive
While big data is currently accessible to the smallest business, thanks to the accessibility of the cloud; the same might become exclusive and expensive to access in the future, as companies purchase exclusive rights to data, and rent it out according to a SaaS model.
While this seems unlikely to affect the small business much, it will nevertheless change the business practices to some extent.
Remote Operations Will Become the Norm
The day is not far when a company will be able to run remotely. This is judging by the developments in the supply chains of the world, which have been augmented with remotely functioning capabilities, and that too in real time.
While bigger companies may find it easy to implement the technology into their existing systems, the new enterprise may find the technology somewhat expensive and difficult to get a hold of, from the get-go. This is assuming they are looking for full integration from the start.
Cryptocurrencies will Climb Uncontrollably in Value
Bitcoin, which is the most popular cryptocurrency in existence, has increased in excess of 650 percent in value since the start of the year, and still continues to climb. Companies that are looking to commence operations and stockpile Bitcoin will face difficulties in the future, due to the ever-climbing expense.
In order to avoid capital-related issues in the future, a good solution is to invest now and do so preemptively.
April Salsbury, MBA is a strategist, an analyst, an operational guru, a recognized leader and C-suite global healthcare executive with drive and focus for competitive markets. Co-host of The Business Forum Show and regular contributor to various business journals, she possess multi-functional and multi-national competencies with more than 15 years experience in business and healthcare. Her expertise is in invigorating revenue growth and infusing value of lean practices in growing companies through improvements to cash flow and operations management.
Fueling revenue, growth and profit, Salsbury & Co. is a consultancy firm focused on helping businesses and healthcare organizations achieve excellency. Our specialists have executive experience combined with deep functional expertise to provide our clients with services that drive real impact and results.
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