As a business owner, it can be a little disorienting when the business landscape is rapidly altering and shifting around you. How do you stay competitive and focus on improvement when you’re merely attempting to keep up with the various changes that are occurring?
These are hard questions, and business owners are increasingly having to answer them because there is no other choice.
When things change around you, there are several things you can do to stay on top and maintain your market share. It won’t be simple, and you shouldn’t expect it to be, since if you take that attitude to business, neither your company’s nor your own personal potential will be fully realized.
So, in this article, I will discuss how online business owners, especially agency owners, can keep both their business and growth intact and thrive in the fast-changing business landscape.
Varun has over 1 million podcast listens and is one of India’s premier conversationalists in business, personal development, and created environments. His podcast, “Advertising Is Dead,” is a documentary on the advertising industry’s changes, disruptions, and reality. This series featured a diverse group of specialists from several fields. Last year, the podcast had over 100 episodes and over 200,000 listeners.
I’ll also be sharing his insightful ideas and the suggested approach that he shared with the IMOTWS community. Hence, without any further ado, let’s get started.
Should Entrepreneurs Write Books To Thrive In The Fast-Changing Business Landscape?
Have you ever asked this question to yourself? If not, then it’s time for you now to think about it.
If you’re a “Mogul,” your ideas have the potential to help people all over the world in a variety of ways, from starting a business to becoming more productive and creative in their daily lives. Moreover, it’s also helpful in your growth and career. People will notice you when you do it.
There are numerous methods to acquire attention, but writing and publishing a book is not only one of the best ways to get attention, it’s actually one of the most underrated ideas by entrepreneurs in my experience.
And your books will be sold. Don’t worry about that. People will buy it because your book is unique. Because it combines your personal experience with real-world examples and suggestions, your book will stand out from the crowd.
You were the one who carried out the work and saw it through. Your tale is unique, and your techniques have been tried and true. Others might be interested in hearing about your expertise and knowledge.
Here are some solid reasons why entrepreneurs should write books to thrive in the fast-changing business landscape:
- Writing a book is one of the most effective ways to establish your authority in any industry and demonstrate your experience as a business owner or entrepreneur. Being an authority is important. It’s the reason people take you seriously when you speak. Being an expert in your profession may make or break how others view your organization, especially if you’re the leader of a young company with limited experience.
- Your book will also assist you in gaining credibility with your target audience. People want information that they can trust, so it’s critical for business owners to take advantage of the opportunity to position their company as a useful source of knowledge through their books.
- Word-of-mouth marketing is the most effective kind of advertising. You listen when someone you trust instructs you to do something, and you do it. The best marketing tool is something that encourages others to talk about you and your company. A book, more than nearly anything else, facilitates word of mouth.
- It’s one option to generate passive revenue by selling books on your website or through portals such as Amazon, iBooks, or Barnes & Noble, among others. Another advantage is the ability to sell products and services both in and via the book. If you write a good book, people will repeat your terminology, phrases, and ideas to others.
Whether you want additional clients, speaking opportunities, or credibility with potential partners, writing a book can help you achieve your objectives. If you have a book idea, don’t let your concerns keep you from putting it down on paper and thriving in the fast-changing business landscape.
When Should an Entrepreneur Write a Book?
It’s a bit like being a party guest when you’re an author. If you concentrate on your readers, they’ll have a better time. Your work will be more successful if you can achieve a balance between expressing yourself while also amusing and informing your audience.
Even if you’re writing a memoir, think of it as a conversation rather than a monologue, which only a few writers are capable of.
Always keep in mind that you should think of writing a book when you have some real value to provide that will genuinely help people. If you are confident about it, there is no reason for procrastination. Go for it!!
Since Varun himself is a bestselling author, his advice is worth considering to thrive in the fast-changing business landscape. Let’s talk a bit about agencies. If you are an agency owner, you must not miss the rest of the article!
How To Start A Digital Marketing Business In 2022?
With the rise in popularity of digital marketing services, it’s more important than ever to invest time in yourself in order to stand out.
Getting new clients can be a difficult chore, especially if you’re one of the digital marketers who believe their service fees aren’t justified. In today’s digitized environment, when every consumer is present online, digital marketing is critical.
To start a marketing agency in 2022, you need to focus on certain things. Let’s have a look at what you should follow.
- Make your unique selling proposition stand out by defining it. Make your unique selling proposition stand out by defining it. Even if your competitors are already using your USP, no one is mentioning or at least emphasizing all of their unique features. So don’t be shy about mentioning yours.
- It’s preferable to focus on a particular niche and work on it more effectively. It will also assist you in maintaining the quality of your service and completing tasks on time. Furthermore, your clients will always prefer to engage with an experienced professional that has worked in the field for a long time and can thus give more successful outcomes. You can go so far as to choose or create a micro-niche where competition is very minimal.
- Never make the mistake of providing generic solutions; each client needs to be treated as an individual. A list of the services you excel in is the last thing your clients want to hear. So, instead of talking, try listening! To thrive in the fast-changing business landscape, find out what your customers desire.
- Do your own research on the type of industry you work in before starting the planning stage or implementing your plans. Learn about your competitors’ strategies and tactics, and consider how you might differentiate yourself. You must know your industry very well.
- To reach new clients, create company accounts on all of the major social media networks. According to Oberlo’s research, there are 3.5 billion social media users worldwide, with Facebook being the most popular. In today’s world, it’s foolish not to use this opportunity to attract an audience. Not being available on social media means your business is incomplete in a way.
- Lastly, get customer feedback and testimonials. Genuine customer testimonials entice new customers who rely on them to make purchasing decisions. According to Spiegel, over 95% of shoppers examine reviews and testimonials from real customers before making a purchase. Testimonials are a great approach to gaining new or potential clients’ confidence and trustworthiness.
How Should You Position Yourself Initially To Thrive In The Fast-Changing Business Landscape?
Positioning is all about presenting oneself to the right person at the right time and place, in the right way, with the right message. Such placement is difficult to attain quickly or once and for all. It’s a never-ending process of figuring out new ways to control how your clients and prospects perceive you.
Here are some suggestions on how one should position himself in the beginning.
- In your mind, you place yourself first. The way you see yourself will have an impact on how others perceive you.
- With your appearance, you establish a place for yourself. First impressions are formed in a matter of seconds.
- With your actions, you establish a position for yourself. By watching everything you do, your prospects judge your importance, ambition, and dependability.
- With your focus, you place yourself. If you are not focused, things may fall apart.
- With your presentation, you take a position. The way you set up and deliver your presentation communicates to prospects how vital it is to pay attention to you.
- The manner in which you ask for an assignment might help you establish yourself as a true professional by making an offer that is beneficial to the prospect.
How Can You Retain Clients?
You must go over and above to earn a customer’s loyalty to thrive in the fast-changing business landscape by retaining clients. And you don’t want to dismiss someone who has become a part of your business’s ecosystem. As a result, customer retention is a critical key performance indicator (KPI) that all firms should track and improve.
According to data compiled by Harvard Business Review, onboarding new clients costs between 5x and 25x more than keeping an existing customer. Simply increasing retention rates by 5% can increase profits by 25 to 95 percent.
By now you should understand the significance of client retention, right? So let’s look at some strategies that can help you do it.
- A flawless onboarding procedure will help you retain consumers.
- Keep your items and services at the forefront of your customers’ minds at all times.
- Promoters and loyal clients should always be rewarded.
- Customers will be more empowered if you provide them with convenience.
- If you feel your customers are facing challenges, communicate with them immediately.
- Develop a relationship of loyalty with your clients.
Since the invention of the internet, the online business landscape around the world has evolved a lot. In 2022, you can’t apply the 90’s techniques. Nowadays, you have to act based on the data. You have to act smart. And Varun Duggirala’s ideas can help you exactly with this: to act smarter.
You also have to keep yourself updated on your industry to retain clients and thrive in the fast-changing business landscape. The internet is a place where things constantly evolve. So, you also need to act accordingly. I hope this will help you in your business. If you find it insightful, don’t go without leaving a comment.
Meanwhile, you can also join our Internet Moguls Of The World School, where we help you to set yourself up for success, learn the key digital business concepts to thrive, and build an online business so that you can have more time for your family, more peace, and more financial freedom.
You can also follow our Internet Moguls of the World Podcast to learn more about starting your digital venture. This show is a way for you to get answers to your pressing questions about using the internet to build a brand or business, and to achieve freedom, happiness, and success for yourself, your loved ones, and your future.