We now face a new era in business that centers on customers and not our products and services. The value is now inherent in the customer and not what WE have to offer them.
What does this mean? Customers are becoming customizers. They seek ways that they can interact with a company to develop personalized experiences built around their wants and needs.
What is one of the biggest challenges we face because of this? The integration of all the parts of our business. When I say "all the parts of our business," I'm including vendors, suppliers, shipping, sales, marketing, human resources and any other aspect of our company that makes us who we are.
The key to all of that, to make it simple, is that you must understand everything that's involved. You must know what all the parts are that make the whole, so you can understand integration and where problems in your value chain may lie.
The days are gone when the various goings on in a business are hidden from our customers. Everything is out in the open with the information age and we must react or respond accordingly.
This is one of the big problems of small and large businesses. They don't understand or, in many cases, even have a handle on what what the parts that make up the whole are.
Whatever your role in management is, if your company isn't integrated like it should be, make it your aim to understand what the parts that make up the whole are. How can you deal with problems and handle them if you don't even understand where they're coming from?
Sometimes this is what causes that hidden frustration that you can't get a handle on, or makes you feel that you've lost control. Understand your parts, and it'll empower you to understand where things need to be handled.
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