Three focus areas to survive in business

In a presentation I did mostly 20 years ago for a group of industry leaders on the Norwegian west coast I was talking about what would be the three most important focus areas for businesses that wanted to survive the rough competition in the future.

My answer was this:

  • High Speed
  • High Tech
  • High Touch

Here is what I mean by these three key focus areas:

High Speed: To win over your competitors you have to be faster than them. That means getting the right facts and information faster than them. Making the right decisions faster than them. Innovate faster than them. Build new skills faster than them. Employ better and more skilled people faster than them. Respond to market changes faster. Respond to customers faster. Move faster.

High Tech: To be able to win over your competitors you have to be in front on the technology side. And you have to get technology that help you employees share knowledge faster, respond faster to clients needs, technology that simplifies business processes and interaction between your company and external collaborators and customers, but – not at least – improve the communication, sharing, understanding and collaboration internally in your company.

High Touch: Stay close to your customers. Make sure you understand your costumers in and out. See them as often as you can. Make sure you have business processes and tools that saves time that you can spend on your customers. Bring your customers in to your company, make them collaborators in your innovation work. But also make sure your employees are tightly connected to each other – throughout the company and as transparent as possible. In today’s world the employees are the most valuable assets a company has. Not the buildings, not the office equipment, not the machines.

Do never forget that the human brain is the most advanced computer that exist. It has lots of processing power, lots of storage capability – and the are even creative. So why not do with human brains like you do with your computers – connect them in networks – build your own brain network where ideas flow free, where load balance gives a better and safer work day and lowers the risk. Networks where knowledge is spread around in several different brains to make sure there is always a backup.

That is what Social Business is all about. High Speed. High Tech. High Touch.