Here we are in 2018, were digital disturbance is more prevalent than ever. Every single day we are forced into changing the way we work and live, and if you blink, you risk being left behind.
Gone are the days of renting a DVD at your local store, visiting the bank is a thing of the past, our electronic devices rule our lives and if you don't know something, no longer do you reach for a book from the library – just google it!
Digital disturbance has the power to close down businesses, eliminate jobs within the workforce and have a major influence on the Australian economy. In saying that, there are two sides to every story. And a shift in mindset gives us a whole new take on the impact Digital Disturbance can have.
Digital disturbance has the power to cut down costs within your business, streamline processes, improve efficiencies and ultimately your business thrives in the digital age.
It is time to let go of the fear surrounding the digital world and embrace the change. Digital disturbance has provided us with a business opportunity and it is up to you whether you innovate or disintegrate.
The first question that you need to ask yourself is: how is digital disturbance affecting my business? And how well are we responding to decrease the threats and increase the opportunities presented by this change?
Understanding your industry and competitors will provide you a key insight into how you can turn digital disturbance into an advantage for your business. You have the opportunity to learn from companies who have failed to get ahead of this change and ultimately turned a blind eye on the digital world we have no choice but to embrace. In 2010 the Taxi Industry ignored the need to identity what changes their digitally exposed consumers needed to see – along came Uber and as a result, we now see a broken taxi industry.
The key to leveraging the advantages of digital disruption lie within your ability to innovate your business. Re-design your website, develop an app, setup an online store, research and embrace technology, move to the cloud. All it takes is making a commitment to adapting to the change rather than resisting the inevitable.
Of course some industries face larger disturbance than others. Retail trades and media are industries that we would expect to face both impending and significant disturbance as a result of the digital world. Online shopping and online media streaming services are already predominantly used every day by consumers. The more accessible and affordable these services become the higher the risk of digital disruption.
It's crucial to recognise that when it comes to digital disturbance, the biggest risk may in fact be by doing nothing at all.
Innovation, imagination and action will separate tomorrow's winners from the losers.