Tectonic Shift:
The Past is The Past and We Can’t Go Back
There is a tectonic shift in worldwide commerce and that shift is a result of Covid-19.
Covid-19 has driven industry, companies, and customers out of businesses and out of their work locations.
How do you transact business if you can’t have physical proximity contact, can’t shake hands, can’t exchange things, can’t be in the same physical space?
Companies and consumers still have needs for shelter, supplies, food, clothing, leisure, etc., and these needs aren’t going to go away – but how they transact for them is going to change. How do you buy new clothes if you can’t see them on your person or how they fit? How do you meet with customers and prospects if you can’t see them in person? How do you maintain “business as usual” if it’s not usual?
Needs don’t change but commerce does; sometimes to effect positives, and sometimes in response to negatives. Covid-19 is a negative. So, what do companies and consumers do to continue to get their needs met? Adapt, Overcome, and go to the World Wide Web! “You mean the information superhighway?” Yes!
In 1994 Dell processed $1Million in online sales in one day – the first such benchmark ever recorded on the internet and proved E-commerce. By 2000, Dell was doing $50Million a day in web-enabled sales. Dell’s entry into E-commerce was over 25 years ago, a lifetime in technology terms!
The past is the past and we can’t go back. We must move forward.
Cloud computing and digital transformation aren’t even cutting-edge technologies any longer; their value has been proven time and again. But what may be lacking is the understanding of how to apply cloud computing and digital transformation to your specific business case, and where and why.
For those companies that did not heed or recognize or take control of technology to transform their business, it may be too late. For others it may be an industry and company renaissance; a rebirth and opportunity.
If you don’t believe cloud computing and digital transformation will transform and maybe even save your business, then you’re probably right.
“Nothing happens until a sale is made.” Thomas Watson, Sr., President of IBM from 1914 to 1956, coined this expression. He knew what he was talking about. Selling technology in the first half of the twentieth century, before the moon landing in 1969, was not an easy sale to make. Companies then, like many still today, did not understand the transformational power of technology to reshape industry and company fortunes.
What is a “sale” and how is it made? A sale is made when a buyer and seller agree to exchange values. The customer’s value is revenue, but what is your value to the customer? It’s not your price.
New sales are the lifeblood of every business, but not every business knows that yet. Without predictable new sales year over year, no matter how well intended a company’s mission or goals, the company will suffer with limited growth. New sales breathe life into all other company possibilities.
How to attract new customers year over year is the seminal question every business must solve first if it wants to maximize its value proposition and reach its potential.
Technology companies must monetize their value proposition to make more business. A company’s value proposition is the monetized value of its service or product to the customer - “your value.” If you don’t know the monetized value of your value proposition to your prospect, neither does he.
Sales are the problem, sales are the answer, sales are the point. Monetize your value proposition to make more sales and grow your business at scale.
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