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  • #991772
    daniel.nicotra
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    Hi All,

    As many can attest progressing through the business journey takes dedication and perseverance until the pieces of the puzzle start to fit. Current economic trends and technology advancements have shaken up the dynamics of business today.

    Given the pace at which we are seeing developments across business structures/behaviours, technology and information, thought I’d put this one out there so we can all gain some greater insight and understand what everyone feels is important and of most value to their business and what challenges/opportunities are they presented with in today’s economy?

    Everyone’s view is noteworthy and there is no wrong answer. So lets open the floor, over to you all :)

    Cheers,
    Daniel

    #1183233
    Robert Gerrish
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    Hi Daniel

    I’d suggest that a good trawl of the forum discussions around here is the best way to get answers to your questions… but let’s see if others are willing to open up and respond to such an open-ended proposition.

    Robert :)

    #1183234
    daniel.nicotra
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    Hi Robert,

    Cheers for the message as you note there are several areas within the forum that foundationally answer my questions. The direction with such an open-ended question is to really understand what do small startup businesses grapple with the most in today’s economy. Examples below:

    Whilst the digital movement is opening doors for the smallest of businesses is it also creating information overload making business owners feel overwhelmed to the point of what do I do next? And of course flying solo’s purpose is to help the cause :).

    But what about the bigger picture asking the simple questions of yourself for example:

    Why am I doing what I’m doing? Whats my long-term vision?

    Am I adding value before expecting something in return?

    Am I actually focused and conquering what I set out to achieve or have I lost focus?

    Am I scared of failing? and why?

    These questions can then help frame activities to follow surrounding i.e. business models, business strategic plans, operating models and business systems.

    Often I find that a solution to a challenge is needed only when a small business owner incrementally stumbles across a hurdle that needs fixing. Of course as a small business low risk experimentation is often the best way forward, the good old trial and error, but is it best in every situation? Would a clearly defined plan serve a better purpose?

    Maybe this is a case of some longer-term food for thought to the many in the flying solo community thinking of starting a business or currently on their journey.

    Thanks again Robert for your feedback :)

    Daniel

    #1183235
    bb1
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    daniel.nicotra, post: 214141, member: 67066 wrote:
    Hi Robert,

    Whilst the digital movement is opening doors for the smallest of businesses is it also creating information overload making business owners feel overwhelmed to the point of what do I do next? And of course flying solo’s purpose is to help the cause :).

    Daniel, I think one of the biggest issues for small business is people who ask the open ended question without any real indication of why or what you want it for. I read your first post, and rather than giving me information overload, it gave me, oh just another one of those mindless requests from someone wanting information, with an open ended question, which we will never hear back from.

    We come to the forums to help other small business’s but it comes to a point where answering this type of open ended question without any real direction of what you intend to do with it, gets people to just overlook it.

    #1183236
    James Millar
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    In the spirit of the topic that tech creates opportunities and threats…

    A few days ago I posed this question to some people banging on about Uber and its $40b valuation (which is about 4x their revenue and probably 40x earning multiple). What happens in 7 to 12 years when we have driverless autonomous cars? By all accounts from all major car brands this tech is their biggest R&D spend and next big thing only 5 years off (say double it with legislative issues).

    I have my own views on what Uber may do but would it not be fair to say that is issue may disrupt the disruptor? Or are they banking on pivoting to managing driverless vehicles? I’m not sure the business value case for that is as strong as managing conventional cars with drivers.

    Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900
    #1183238
    daniel.nicotra
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    JamesMillar, post: 214223, member: 5318 wrote:
    In the spirit of the topic that tech creates opportunities and threats…

    A few days ago I posed this question to some people banging on about Uber and its $40b valuation (which is about 4x their revenue and probably 40x earning multiple). What happens in 7 to 12 years when we have driverless autonomous cars? By all accounts from all major car brands this tech is their biggest R&D spend and next big thing only 5 years off (say double it with legislative issues).

    I have my own views on what Uber may do but would it not be fair to say that is issue may disrupt the disruptor? Or are they banking on pivoting to managing driverless vehicles? I’m not sure the business value case for that is as strong as managing conventional cars with drivers.

    Thanks James for your insight on disruptive businesses/tech.

    It’s an interesting topic which I myself have had several discussions on. I think the disrupt the disruptor pattern will become commonplace as the number of disruptor companies grow as does the maturity and opportunities that technologies present and are utilised to empower disruptive companies.

    The below may be some new areas where Uber is showing their diversification.

    The introduction of the new UberPool service has been created to further strengthen the brand and continue to add value with an eye on the future for Uber. The use of this car-pooling service is labeled as playing a key role to help solve traffic congestion. A new delivery service concept Uber Essentials is also being introduced to enable purchasing through the mobile app.

    The impact of driverless vehicles on the Uber service may actually make matters simpler. Uber’s value lies with the fact that they don’t own any inventory (advantage lower cost to customer) this wouldn’t change under the driverless vehicle concept. Uber are not “operators of a taxi service” they simply are the glue (service) between drivers and passengers. Drivers are considered partners of Uber not an employee of the company therefore the same could apply to the driverless vehicles concept.

    The management of cars or people (drivers) doesn’t actually fit into the Uber business model. With all factors considered we could well see the same business model with the variation of driverless vehicles whom are managed by third-party partners.

    #1183239
    daniel.nicotra
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    bb1, post: 214155, member: 53375 wrote:
    Daniel, I think one of the biggest issues for small business is people who ask the open ended question without any real indication of why or what you want it for. I read your first post, and rather than giving me information overload, it gave me, oh just another one of those mindless requests from someone wanting information, with an open ended question, which we will never hear back from.

    We come to the forums to help other small business’s but it comes to a point where answering this type of open ended question without any real direction of what you intend to do with it, gets people to just overlook it.

    Hi Bert,

    Thanks for the feedback. Yes do agree with your view of the open-ended question. The purpose was to open conversation for the whole community to weigh in on, for all to get a bigger picture, read and provide support where possible for those looking at starting a business and those currently in business.

    I guess for small business and the structure of this forum it lends itself more to businesses with specific challenges they encounter along their journey, or as they learn something specific and want more clarification/information.

    One concern I have which perhaps you may be able to provide your insight and experiences on is how existing businesses are coping and what challenges are they facing with their shift within the digital economy?

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