SME Corner by Dr Jeanie Namonje Mushala
THE changing business pattern has triggered disruptive ways of delivering products and services to clients in their own right in order to ensure business continuity.
This article is somehow related to the previous one where I pointed out that Small and Medium Enterprises (SME) must sought new strategies of conducting business to maintain a competitive advantage considering that old methods are slowly being driven out in compatibility to the changing world.
Positive strides by entrepreneurs are being seen in all areas of business from transport to food industry, to mention but a few.
The changes in the transport industry are not new, where customers are able to dial a cab from the comfort of their home for their service. The food industry is not an exception to this service.
Ulendo for instance started with the transport business and extended to delivering food popularly known as Ulendo foods, where they have partnered with restaurants where they take orders on their behalf as well as deliver food for their clients.
This eases pressure for busy people but convenient and safe amid Coronavirus (COVID-19) as a measure of preventing congested places and transmission of diseases.
Of course, this mode attaches an extra fee for transport and other modalities. These are brilliant ideas that entrepreneurs must learn from.
Selling and advertising on social media platforms like Facebook and Instagram are popularly used by entrepreneurs that want their brands to be known to masses cheaply.
Customers now search on social media for anything they need considering that majority of business owners have created personal pages for their businesses.
This helps them showcase what they have in stock and how payments can be made as well as mode of delivery.
Majority have taken that route to cut down on rental costs and operate from home. They also avoid traditional ways of advertising which tends to be expensive to maximize profit.
The advantage of social media is that it is convenient, cheap and visible to a large number of people although there is little interface. It is a safer way of conducting business considering that many people are opting to make online transfers when paying for their goods and services.
Online shopping will soon dominate the way we shop.
Our world is slowly becoming a cashless one because money is being kept in mobile phone money accounts because of the convenience of having access to it 24 hours.
These business models shorten the process to some extent, and are helpful to busy people and those who do not have the strength or capability to move around.
It also saves both the customer and retailer from handling cash making it a safer mode.
On the other hand, chain stores are supplying and delivering to retail stores up to their doorstep as very few opt to purchase in bulk from source , they simply order what they need and pay online.
These methods allow a business to still continue amid COVID-19 challenges and beyond.
Salons today prefer bookings prior to the service, paving way for customers to choose whether to have their hair or nails done at the comfort of their home at an extra fee or at the designated location.
As the dynamics of business are changing every day, entrepreneurs must be more innovative to be compatible with the business environment.
Business owners prefer to establish up market for their goods and services to avoid having unnecessary stock for a long time which often gets eroded and translates into losses especially with the current volatile exchange rates that are affecting businesses adversely.
With so much uncertainity, entreprenuers are taking the route of taking orders first and only supply based on order and not just having stock on the basis of what they think customers want.
Another good example is the mobile restaurants where they take orders from clients and deliver accordingly.
In light with this, enterprises must ensure that they consider innovative and convenient ways of getting their goods and services to their clients without any hustles.
For comments contact: Jeanmushala@gmail.com