<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=349935452247528&amp;ev=PageView&amp;noscript=1">
Find out where you can get a Taste of TAB... our global events blast is on!

The Alternative Board Blog

3 Surprising Trends That Will Change the Way You Run Your Business

Feb. 9, 2023 | Posted by The Alternative Board

There has been a lot of talk lately about Artificial Intelligence and how it is poised to change how nearly every business owner runs and grows their company. And it’s already happening. The recent introduction of ChatGPT has expanded curiosity into artificial intelligence and ignited interest into how to best leverage the tool in everyday business operations. It is by all accounts pretty impressive stuff. Even the big dogs like Google and Microsoft are adding the technology to their platforms and browsers.

While AI is expected to quickly impact nearly everything we touch, it isn’t the only factor transforming the way we do business in our post-pandemic world. 

1. The Expected Rise of E-Commerce

If your business is not engaged in e-commerce, now might be the time.

E-commerce boomed during the pandemic. Shopify reported nearly a $900 billion increase in e-ecommerce sales throughout Covid lockdowns. While online sales have certainly leveled off a bit since then, the global industry is still up more than 20% compared to pre-pandemic levels and is expected to grow to more than $8 trillion in the next three years.

To add e-commerce to your business strategy, first evaluate your cash flow, available resources, manufacturing options, and shipping dynamics.

Click here to register for our free webinar titled “The Seven Levers of Cash Flow: How Small Incremental Changes Can Make an Immediate Impact to Your Bottom Line.”

Next create a selling strategy that aligns your product or service with market demands. Establish an online presence on sites where your customers frequent. Consider low-cost, high-yield engagement campaigns on social media.

If you already offer your products and service online but want to increase your e-commerce sales, think about investing in advanced software solutions. There are a lot of great ones out there to choose from.

2. The Emergence of Quiet Hiring

The employment sector has been incredibly volatile over the last few years. Work-from-home dynamics, the Great Resignation, and Quiet Quitting all made hiring and employee retention a bit of nightmare for many organizations.

Now business owners and HR departments are starting to regain some semblance of control by implementing what is being called a Quiet Hiring strategy. Quiet hiring takes the focus off employee acquisition and instead emphasizes internal talent mobility.

Quiet hiring is expected to really take hold in the coming year, as businesses create ways to engage, support, and elevate their current teams to meet operational goals. By implementing mentoring programs, leadership development initiatives, and other career growth opportunities throughout their organizations, businesses gain employee loyalty and are no longer hobbled by an unenthusiastic labor pool.

Quiet hiring can also have a dramatic impact on creating a positive company culture. It is really a win-win for both employees and business owners.

Click here to read “Mentorship 101: How To Develop the Next Generation of Top Talent.”

3. Authenticity As a Calling Card

The pandemic was brutal for business owners in so many ways, but one silver lining emerged from the challenges: an increased value placed upon the importance of brand authenticity.

Brand authenticity essentially means the extent to which a business is true to itself and its customers. It’s about integrity and commitment and honesty. Brand authenticity might sound like a simple, almost obvious approach, but it is shockingly lacking in many businesses today. And, moving forward, that can be a dealbreaker for a large swath of customers, particularly socially-conscious Gen Zees and Millennials.

Underscore brand authenticity in your business by being clear and forthcoming in communications with your customers, investors, and other key stakeholders. Always deliver on both formal (think “Our Promise to Our Customers”) and informal commitments you make. Create an open and engaging line of communication on social media channels and customer service interactions.

Brand authenticity is about accountability. It’s about saying what you mean and meaning what you say. By embracing authenticity, you and your business are much better positioned to grow and retain a loyal customer base for years to come.

Read our 19 Reasons You Need a Business Owner Advisory Board


Written by The Alternative Board

Related posts

How to be a Better, Stronger Leader
Sep. 20, 2023 | Posted by Lee Polevoi
Leaders with a forceful vision and presence are in great demand these days. With the global marketplace in a state of continuing flux, businesses need talented individuals who understand the power...
Not Your Father's Business Leadership
Sep. 13, 2023 | Posted by The Alternative Board
Today’s business leaders bear little resemblance to the top brass of yesteryear. Business leadership has evolved significantly over the last 50 years, driven in large part by changes in technology...
What are the 4 Most Common Leadership Styles?
Sep. 6, 2023 | Posted by Lee Polevoi
Depending on who you ask, there may be as many leadership styles as there are leaders in business, government, the entertainment industry, and so on. However, certain leadership traits are...
Employee Experience Design: If You Build It They Will Come
Jul. 26, 2023 | Posted by The Alternative Board
A new employment trend has emerged over the last few years that is substantially changing the way businesses interact with and inspire their employees. In response to the pandemic-induced disengaged...
Ay Yi Yi: The Fascinating World of AI
Jul. 12, 2023 | Posted by The Alternative Board
Artificial intelligence. What once felt wildly futuristic has suddenly become mainstream and is growing more ubiquitous by the minute. You are likely already interacting with AI, even if you are not...
When Your Sales Process Is Way Too Long (and How To Fix It)
Jun. 14, 2023 | Posted by The Alternative Board
A drawn-out sales process can be the downfall of an otherwise healthy business - or at the very least, a huge drain on efficiency and profitability. Slow sales cycles are more expensive than their...
When Is It Time To Fire an Employee?
May. 10, 2023 | Posted by The Alternative Board
Terminating an employee is never fun. Even for the most polished and seasoned business owner, the process of letting someone go is almost universally stressful, unpleasant and emotionally...
Workplace Collaboration: A Secret to Success
Apr. 26, 2023 | Posted by The Alternative Board
Collaboration. It seems like such an easy concept to grasp and embrace, particularly as it pertains to the teamwork required to run and grow a successful company. But then why do so many so many...
7 Ways To Create a Culture of Engagement in Your Business
Apr. 12, 2023 | Posted by The Alternative Board
It’s no big surprise that employee engagement is critical to the productivity and long-term success of your business. What might be shocking though is how often engagement is overlooked even by those...
Create a Culture of Health and Wellness in Your Business
Mar. 22, 2023 | Posted by The Alternative Board
Today’s employees have elevated expectations of their workplace environments. Long gone are the days of mindlessly clocking in and out from an unsatisfying, sterile and disengaging job. Employees...