Click here to get this post in PDF
It is no longer sufficient to ‘think out of the box’ or ‘be different’ or ‘stand out from the crowd’. These cliches are redundant because the global business world requires more from you and your team if you intend to stay in business and be relevant considering this Covid-19 pandemic.
Creating fresh paradigms and applying functional strategies are essential parts of navigating this changed reality. As we understand it, physical money is easily exchanged or traded for one another. It can be switched or substituted for something of equal utility or equal value. The same applies to cryptocurrencies because they are fungible.
And then, there are non-fungible tokens (NFT) that are generally built using a similar kind of programming as cryptocurrency. Twitter now allows users to change their profile from circular to hexagonal, demonstrating that the social media platform supports non-fungible tokens. This recent move is an improvement on the offer to ‘Twitter Blue’ account users to use these tokens as profile pictures. Personalised tokens have even been distributed to influencers on the YouTube social media platform. The art world has passionately embraced NFT due to its unique digital representation, which also functions as evidence of the authentic nature of a work of art that is recorded on a blockchain.
This is not an endorsement or recommendation of cryptocurrency trading or NFT activity. The sole purpose of this discussion is to highlight the powerful change in financial circles. You are primarily in business to make a profit, so factors that influence the financials will potentially impact the core of your business. Therefore, there is value in being aware of such factors.
Other factors to consider are how you directly communicate with your customer base. Amazon is almost a synonym for shopping, so your online presence should be simple to use and efficiently run. Invest in your team as the people who work with you must be clear about the value they add to the business’s overall success. This is also good for personal development and a positive work environment. Another factor to consider in creating fresh paradigms is genuine respect for diversity and inclusion. Genuine as opposed to the ‘tick box’ exercise that satisfies official guidelines. Different perspectives bring a wealth of knowledge/life experience to a given situation, and applying the most effective solution is good for business. Faith base, sexuality, gender or otherwise defined, race, ability, educational levels etc. can bring unique viewpoints to a particular issue in business. These times demand the application of unique and creatively intelligent strategies. Eco-friendly credentials will benefit your business as consumers are savvier about creating a better planet. Evidence of charitable donations alongside regular demonstrations of corporate responsibility are also areas that customers pay attention to.
The creation of fresh paradigms is an organic experience. Therefore, you and your team must keep pushing forward by using all the skillsets, expertise and knowledge that you have at your disposal.
About the author
Malik Muhammad was raised and educated in Jamaica and read law in London. He created The Empowerment Mastery System to influence, help and inspire businesses to cultivate their visions. Malik enjoys vegan cooking and quad biking. He is an after-dinner speaker, event host and convenes empowerment seminars internationally. His latest book COFFEE & CONTEMPLATION: a taste of empowerment is available on Amazon.
LinkedIn | Instagram | Twitter | Website
You may also like: Planning For The Future As A Business Owner Is Essential
Image source: Shutterstock.com
