16 Nov 5 Business Practices You Need To Let Go
Change is the only thing that is permanent in this world. This applies even in the case of businesses. With the advent of modern technology and the changing demands of the market, among other things, there are business practices that are no longer relevant these days. If you own a business, you should let go of these practices and start adopting a more modern approach to how you do things.
Not Having an Office
You might think that the spare room you have at home will already suffice as your office. Nonetheless, such a space will not be enough, especially when you need to have employees and when there are client meetings. Luckily, you can enjoy an affordable office space for rent, such as The Common Desk. Similar to other co-working spaces, it provides not just an office space, but a community.
Interested in moving to a new space for better business operations? Check out https://thecommondesk.com/ and see if there is a location that suits you.
Having Strict Dress Codes
Especially for a small business, there is no need to implement a strict dress code on your employees as it can be restrictive for them. Day after day, dress codes are becoming looser. It will be better if employees can wear something casual, yet decent enough for their job. They must be given the freedom to wear what they want, but of course, there should be restrictions. Common sense would dictate that they should not wear something that is too revealing for the office.
Utilizing Traditional Marketing
This can be a subject of great debate, but if you are a business with limited financial capital, the use of traditional approaches in marketing should be considered obsolete. These days, businesses are lucky because there are platforms that are efficient and effective. The best example of the latter is probably social media. Facebook, Instagram, and Twitter, among others, are cheap marketing channels that can be tapped by almost any business.
Practicing Outdated Leadership
Based on data from the American Society of Training and Development, businesses in the US spend as much as $170 million annually for leadership-based curriculum. Recently, they shifted from old to a new paradigm. For instance, rather than investing in tools, new leaders invest in people. Old leaders are driven by the profit motive, the new ones are inspired by creating value.
Using Old Technologies
If you are still using outdated office technologies, your business might suffer from its inability to change. Some examples of these include fax machines, overhead projectors, and desktop computers, among others. Even keys are no longer good as they have been replaced with keyless locks that use biometrics. New businesses must invest in new technologies to keep up with the competition.
We are living in an era were technology reigns supreme and those who fail to adapt can be left behind. With this, for businesses, whether small or big, it’s now high time to let go of their old ways and try new approaches, including those that have been briefly discussed above.