3 Questions to Determine Business Success Longevity

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Assembling two puzzlesIn the early days of “virtual”, many established companies thought “no worries”, this virtual/digital stuff will go away or remain so small as to be inconsequential.

Others embraced it wholeheartedly. Thinking virtual and digital is the way of the “new” world. Physical is passé.

Back in 1992 I was approached by The Smithsonian (yes, “that” one) asking me to turn their human resources office into a paperless environment. They were jumping into the digital world with both feet.

The issue, as is now clear, is that neither view was correct.

Businesses which ignored the virtual world have suffered; businesses which embraced only the digital world have suffered.

The reason?

Clients and customers.

We live in a fused world. We want our digital (think “instant gratification”) and we want to have a great experience, something enhanced by a physical or tangible component.

Those which have survived (and thrived), whether large or small in size, are the ones who embraced both: Those who experienced a colliding of the two worlds and created a third, fused version for their business. {Tweet This}

From a business standpoint, you have to ask yourself:

  1. Are you fusing the virtual and physical experiences of your clients? If now, how will you? This can help define your competitive advantage.
  2. How can the fusion create additional revenue streams for you as it provides better experiences for your clients? For example, a continuity program which combines the ease of digital with the desire for something tangible.
  3. How can you embrace innovation? For example, if you use a shopping cart, you may have noticed that today they’ve changed how to send emails, combine that with their improved link tracking and there’s more information and options available to you than ever before. Is your business taking advantage of them?

Which of the above are you going to incorporate? I’d love to hear. Just comment below – I personally respond to each one. 🙂