The previous post discusses five world-changing business strategies implemented by the Silicon Valley companies like Amazon, Apple, or Google. They are agile business strategies, unique pricing and business proposition, disruptive and scaling-up models, and being a trend setter in the industry. Of course, there are some other strategies. Make sure to learn about them and find out whether they fit your business or not.
World-Changing Business Strategies: Partnership
Silicon Valley companies like Amazon build strong partnerships with other businesses, such as social media. For instance, Amazon collaborates with Facebook and Instagram. After purchasing a product from the global marketplace, you can share “like” on Facebook or Instagram. Therefore, you do not have to visit Amazon website to “like” it.
Partnership with social media seems to have been a gold standard in online marketing strategies. When the customers “like” your products on your social media page, you have two benefits at once. First, you know how the customers respond to your products or service. Second, the social media visitors can also see the “likes” on your social media pages. The “likes” can encourage other visitors to visit your webpages.
World-Changing Business Strategies: Ease of Doing Business
When other businesses find it difficult to do business with you, it is the time to anticipate for stagnancy in your business. Instead, make sure to be easy for other business to collaborate with you. Take Uber services as an example. The customers can easily order an Uber car anytime they need one. For most people, ease of doing business means one-click services. The technology offered by Alexa allows the businesses to design seamless transaction systems.
Ease of doing business can also mean offering several options for the customers. For instance, instead of offering only few product items, why don’t your offer them with custom products. This way, the customers can make orders based on the designs and models they choose. Custom offers can work great for most types of consumer products, fashion items, or even foods and beverages.
World-Changing Business Strategies: Focus on Employer
It is true that customers are kings in your business. However, it must be done with the right calculation. Focusing on the employees, like compensation, flexible work hours, benefits, and training, is certainly good for your business. However, make sure that you do it by communicating the clear vision and missions of the business. Make sure the whole unity of the organization works in line with the vision.
Offering more compensation without ensuring that the vision and mission of the organization are clear to the employees will only spend more money. Besides communicating the vision, employer should also set realistic expectation and targets to achieve. Silicon Valley companies now focus on millennial, who are not simply looking for salary. Instead, they can challenge themselves to achieve certain targets in the defined time frame.
Silicon Valley companies are changing the world by implementing different business strategies. They make themselves different from the rest in the industry. So, think out of the box and set realistic targets with the world-changing business strategies.