Business Is More Competitive Than Ever | Why Is This the Case & What Do You Need to Do to Stay In the Race?

The Digital-Trust Economy Doesn't Recognize Borders So Business Has Gone International As a General Rule and Ai Has Accelerated This Phenomenon

If you think business was competitive before just grab something steady and hold-on, it's about to get crazy! Business used to be confined by geographical borders, at least small and medium businesses were but now with today's tech and the rise of Ai those limitations have been blown-away and business can happen anywhere there is an internet connection.

How can a small business with limited resources compete in such a vast sea of commerce? I have your answer, just keep reading.

The Tale of Two Systems - One Dying and One Emerging: This Is Key - They Don't Operate On the Same Framework

Unless you're under twenty years old the economy you grew up doing business with was an economy born out of the industrial age and designed on a top-down business framework.

That system is fading from our lives and being replaced with a new economic system, one that has been described as a 'digital' economy and by others the 'trust' economy. I think the two terms combined accurately describe the emerging economy, so I call it the 'digital-trust' economy.

For starters, it is a digitally based economy, even for local businesses, the digital aspect of every business is increasing and undeniable. It is also a 'trust' economy in that the post-pandemic consumer does not buy goods and services like the pre-pandemic consumer did.

The post-pandemic consumer wants to receive value on the front end of a purchase in the form of educational content of some sort that informs their purchase. The type of content they seek is typically found online. So, rather than being cold-called and pitched they want to build rapport with those they do business with prior to ever reaching out to actually buy.

This is how they develop 'trust' in a product or service and in the provider of that product or service. Therefore we have a 'digital-trust' economy. Now, this begs the question; so what kind of business framework works for this type of consumer? I have an answer.

If You're Thinking Business Ecosystem You're On the Right Track

What is a business ecosystem and how does it differ to us as entrepreneurs and to the consumer? Let's start with an illustration to get a visual 'fix' on just what a business ecosystem looks like.

Image Created by Author In Canva

In the image above you can see an example of a business ecosystem on the right and just below it is an example of what a top-down business framework might look like. As you can see in the top-down model the customer sits at the bottom and is basically an afterthought in the model.

This is what we see today in traditional businesses, generally speaking, terrible customer service. In the ecosystem model however, the customer is an integral part of the 'community' formed by the ecosystem, a valued partner in the development of a company's product or service. The chart on the left spells it out.

The Million Dollar Question: What Framework Does Your Business Operate On?

If your answer is the top-down traditional model you need a transformation. But, how do you transform and implement a completely different framework for your business?

Again, I have an answer. In my book "Learn How to Build a Brand for Smart People in Under 2 Hours" I tell business owners exactly how to integrate my Collaborative Business Ecosystem into their business without causing disruption, but instead only enhancing all the good parts and naturally eliminating the wasted efforts while facilitating both internal and external alignment, only this time including the consumer in this alignment transforming your business into a 'trust' business, one that today's consumer will seek out themselves.

Not Selling a Book!

I don't care if you buy my book or not, today's entrepreneurs know you don't write a book to make money, you write a book to record your thoughts and time-stamp them as a calling card to open doors for discussion around the topic you're so passionate about.

For me that is the framework and processes needed for businesses to work in this shifting consumer landscape... that's why I wrote the book.

If however you feel this article resonates with you and you want to learn how you can apply these principles to your business and not get left behind, to actually have your brand's voice heard among the many, then go to my website and book a free discovery call. No commitment needed just a free assessment on how to proceed. Hope you found this article helpful.

Here's my web address: www.getvoiceengine.com