Ever heard the adage “If it ain’t broke, don’t fix it?”. It’s a common phrase that surfaced in the late 1950’s as a counter to the very human need to try and tinker and improve everything around them.
In the business world, it’s become a warning not to interfere when things are going well, because there is a risk that change can upset your success - and it’s one of a number of outdated ideas from another age that can have a serious impact on the way you work.
In the past, setting up a working factory or process and sticking to it was enough to get by, because markets were stable, customers had less choice, and innovation was gradual.
Today, though, the need to look ahead and constantly explore new processes and technology is essential, not only to boost the bottom line, but to ensure you’re ready for any unforeseen change.
The Covid-19 pandemic has proven that every business, regardless of size, needs to be able to change the way they work and even what they offer as quickly as possible.
Here are a few ways to find the critical success factor of the future - flexibility.
<h2>FIXED VS FLEXIBLE</h2>
The Covid-19 pandemic put a number of SMEs at risk. Without foot-traffic in their location, and facing the combination of travel restrictions and the consumers’ collective urge to save rather than spend, many had to take drastic steps to try and find ways to make their business work.
Across the globe, business owners had to rethink what they could offer. For some, the shift was relatively simple: such as restaurants who had could partner with or develop delivery services and create <a href="https://www.restaurantbusinessonline.com/operations/ghost-kitchens-are-here-stay-heres-how-make-most-model">so-called “ghost kitchens”.</a>
Some businesses focused on converting their production facilities to develop PPE and other essential supplies to aid in the fight against the spread of the virus.
Others went further still: in the education, events and public speaking arenas, many had to move their live offering into the virtual arena - and quickly. Seminars were replaced with webinars, and Friday nights were suddenly spent on digital platforms like Houseparty.
While these are admirable adjustments, it is worth noting that there are some businesses that have simply been unable to respond or react - particularly in the hospitality, travel, and construction sectors.
With unforeseen events like the pandemic possibly lurking around the corner, it’s important for business owners to understand the difference between flexibility, and being fickle - because it is neither feasible nor profitable to change course constantly, but it is equally costly to stand still.
Being flexible as a business is all about ensuring that you have the technology, processes and strategic frameworks in place to react to relevant market conditions quickly, but not impulsively.
So, how do you embed that capability in your organisation?
<h2>PEOPLE, PLATFORMS, PROCESSES</h2>
Like any other business or brand attribute, being flexible is not just “something that happens”; it is the result of intentional focus and investment in several related parts of your company.
Firstly, you need to prepare your people for constant, quick adjustments - and it’s an industry in itself. Developing a mindset and environment where your team is comfortable with change, rather than clinging to the comfort of fixed processes, is essential. Often, it starts at the top. Take opportunities to put yourself in new positions, and encourage your team to do the same. Training, webinars and books are also a great way to get them to be ready for anything.
Next up, you need to invest in platforms and technology that allow you to collaborate and change in real time. The move to remote work has shown just how important it is to have these systems in place. Agreeing on a single communication channel like Slack, Skype or Teams is a good start, but you may also need to consider filesharing services and project management tools to keep track of <a href="https://www.forbes.com/sites/falonfatemi/2019/06/28/the-future-of-work-is-distributed-heres-how-your-company-can-strategize/#704ad0a5193d">your distributed workforce.</a>
Lastly, embrace fluid processes. Business empires have been built on bureaucracy and following the chain of command, but that siloed, hierarchical approach is just too slow to get into new opportunities quickly and at scale. Embrace new management models and ways of working, like Agile, can help your whole organisation move more quickly.
If implemented correctly, these measures should also free up enough resources for you to reinvest some of your profits or time - even if it’s a small amount - in exploring innovation, and trying to figure out upcoming opportunities while keeping the lights on.
<h2>HEDGE YOUR BETS</h2>
Another critical factor in building your flexibility is the need to play in different spaces to create multiple revenue streams that you can prioritise as needed.
Let’s use a fictional example - like a local drycleaner. Although the bulk of their business involves people dropping their laundry off and collecting it a few days later, offering an online pick-up and delivery service, serving local B&amp;Bs, investing in eco-friendly products and machines, opening franchises, and even offering online stain-removal assistance via live chat are all ways to ensure that, should the worst happen and foot traffic drops off, there’s always an option to pivot into and prioritise.
Generally, this means exploring the digital marketplace to build out your business. Apps like Telkom Business’ Yep! are a powerful tool for building both your digital presence and a new customer base, as the platform allows you to promote your SME and respond to customer requests.
Really, it’s about having enough skin in the game to keep profits healthy but adapt when needed - and with a little help and the right tools, it’s a balance you can find, and flourish from.
<img src="https://api.yep.co.za/cms/sites/default/files/inline-images/AdobeStock_304740562%201_0.png" />

Ready, set, react:  Embedding flexibility into  your business

Business isn’t getting easier. In fact, thanks to technology and the internet, it’s more cutthroat and competitive than ever.
That immense pressure means business owners and leaders in organisation of every size have to find ways to reduce costs and increase revenue without breaking the bank.
One <a href="https://www.forbes.com/sites/jasonbloomberg/2018/04/29/digitization-digitalization-and-digital-transformation-confuse-them-at-your-peril/#371525032f2c">solution is digitalisation</a> - the process of improving business processes and performance by converting manual, physical tools and procedures into digital equivalents.
It’s a broad term for everything from replacing hard copy records with spreadsheets to building chatbots powered by Artificial Intelligence - but despite the multiple ways in which it can be applied, one thing is clear: digitalisation helps business unlock value.
So, here are 5 things you absolutely have to know about <a href="https://reports.weforum.org/digital-transformation/understanding-the-impact-of-digitalization-on-society/#:~:text=Digitalization%20could%20create%20up%20to,will%20displace%20many%20human%20beings.">the defining business development</a> of our time, and future.
DIGITALISATION… STARTS SMALL
Too many SME owners and leaders have a lingering belief that digitalising their business means a total overhaul; that they need to replace anything manual and physical with an expensive digital version.
While it is important to think long-term so that whatever processes or procedures you convert into a digital variant can work with the tools you incorporate further down the line, even a small start can deliver huge improvements to your productivity and overall efficiency.
Something as small as replacing hand-written financial records with spreadsheets will save you hours that can be spent elsewhere.
DIGITALISATION… CAN BE EASY
Today’s technology solutions are designed to be easy to grasp and integrate, because their developers have realised that complex systems just don’t sell.
In fact, tech providers like Adobe sell bundled products to make it easy to gradually digitalise a growing portion of your business - all with the goal of helping businesses work more efficiently.
Plug and play has gone from a sale’s phrase to reality.
DIGITALISATION… IS EVERYWHERE
A few years ago, digitalisation was reserved for large companies who were trying to streamline large parts of their complex organisations, but the business world has changed.
Today, all you need to start a business is a computer or smartphone, stable internet and an idea - and even these one-man start-ups are reaping the rewards of digitalisation, with accounting, marketing, and back office functions all being handled by technology.
 
DIGITALISATION… CAN BE EASY
Today’s technology solutions are designed to be easy to grasp and integrate, because their developers have realised that complex systems just don’t sell.
In fact, tech providers like Adobe sell bundled products to make it easy to gradually digitalise a growing portion of your business - all with the goal of helping businesses work more efficiently.
Plug and play has gone from a sale’s phrase to reality.
 
DIGITALISATION… IS EVERYWHERE
A few years ago, digitalisation was reserved for large companies who were trying to streamline large parts of their complex organisations, but the business world has changed.
Today, all you need to start a business is a computer or smartphone, stable internet and an idea - and even these one-man start-ups are reaping the rewards of digitalisation, with accounting, marketing, and back office functions all being handled by technology.
DIGITALISATION… ISN’T GOING ANYWHERE
Unlike most business trends, digitalisation isn’t slowing down: it’s becoming more advanced and intelligent as it accelerates.
In fact, many business experts are predicting that digitalisation will displace whole industries, and force us to find new roles.
Given this central role in rewriting the rules for our future, it’s important to understand the opportunities it could provide your business.
DIGITALISATION… MAKES A DIFFERENCE
Arguably the biggest advantage of digitalisation is that it makes a measurable, predictable difference to your operations.
Provided your systems are implemented correctly, and your staff buy into new ways of working, you can expect to see the desired result, quickly.
And because all things digital offer data about how they’re used, you can track and constantly improve their - and your - performance.
HOW TO GET STARTED
Although there is no need to digitalise every part of your business, there are services and platforms that allow you to manage significant parts of your business with technology.
Yep!, a new digital marketplace app powered by Telkom Business, is a perfect example.
Built specifically for SMEs, it allows you to create a personalised, branded space to showcase your business - but importantly, helps you start the process of digitalising key processes, like booking appointments and bidding on potential jobs, all while building your online presence.
In our increasingly digital world, it’s small steps like these that can elevate your business to new levels of efficiency and engagement - and it’s never been easier.
<img src="https://api.yep.co.za/cms/sites/default/files/inline-images/Header_0.png" />

Decoding digitalisation:  The 5 things you need to know

On WhatsApp groups and Facebook pages across the country, SME owners - <a href="https://www.mckinsey.com/featured-insights/middle-east-and-africa/how-south-african-smes-can-survive-and-thrive-post-covid-19">the cornerstone of the local economy</a> - have been asking for help, from anyone who will listen, to get through the pandemic.
And people have responded as much possible, snapping up vouchers, sending donations, and loaning what they can - but, as generous as people have been, most business owners need a long-term plan to help pivot into the post-Covid world.
For many, that means transitioning from physical operations to a digital experience - and that’s where Yep! comes in.
<h2>WHAT IS IT?</h2>
Telkom Business have built a digital marketplace designed specifically for smaller businesses - in response to both the pandemic and the fact that local businesses are far <a href="https://www.pwc.co.za/en/press-room/south-africa-falling-behind-with-digital-transformation.html">behind the digital transformation</a> curve.
Built to enable consumers to find and support local businesses, the app allows SMEs to build and brand custom sites, list services and reviews, and help customers to book appointment - with an expanded set of features like secure payments on the way.
There’s even a feature that allows prospective customers to post what they need and have local businesses respond accordingly.
The result is a platform for customers to find and support local businesses easily online, which keeps you connected to your customers no matter what.
<h2>A POWERFUL PLATFORM</h2>
There are a number of reasons why a platform of this kind is critical for smaller businesses, not only in the wake of the pandemic, but in an increasingly digital world.
Firstly, it offers an intuitive introduction to all things eCommerce, without the need to navigate complex systems and dollar-based platforms.
Then there’s the fact that it is a portal to a waiting, local audience. One of the biggest stumbling blocks for SMEs exploring the digital arena is building an online community, but Yep! is designed to introduce you to an audience that’s actively looking for local products and services.
Most importantly, the app continues the wave of local support by showcasing community-run businesses, helping to uplift consumers and attracting enduring investment that will endure any spike or change in restrictions and regulations.
All of these factors make it an extremely attractive option for owner-operated companies looking to stay competitive to large companies who may have overlooked their community as an audience.
<h2>CUSTOMER IS (STILL) KING</h2>
Despite the fact that Google is meant to make it easy to find whatever you’re looking for online, the truth is that it’s often still easier to ask your friends if they know a handyman than it is to find one in your area, who’s available, and won’t rip you off.
Yep! is designed to make it easy to find the exact business you need, in your area - and connects you to them with the tap of your screen. Plus, because of the review system, you can be sure that you’re making the right choice.
And of course, there’s the fact that supporting local businesses feels good - a big factor for conscious consumers.
<h2>SIGN ME UP</h2>
With new features being added all the time, and a growing number of users, now is the best time to download the app from your preferred app store and turn that wave of support into sustained performance.
SME; local; marketplace; eCommerce; support; loan
<img src="https://api.yep.co.za/cms/sites/default/files/inline-images/Art%203%20Group%202492.png" />

Shop local:  Helping south african businesses bounce back

Ever heard the adage “If it ain’t broke, don’t fix it?”. It’s a common phrase that surfaced in the late 1950’s as a counter to the very human need to try and tinker and improve everything around them.
In the business world, it’s become a warning not to interfere when things are going well, because there is a risk that change can upset your success - and it’s one of a number of outdated ideas from another age that can have a serious impact on the way you work.
In the past, setting up a working factory or process and sticking to it was enough to get by, because markets were stable, customers had less choice, and innovation was gradual.
Today, though, the need to look ahead and constantly explore new processes and technology is essential, not only to boost the bottom line, but to ensure you’re ready for any unforeseen change.
The Covid-19 pandemic has proven that every business, regardless of size, needs to be able to change the way they work and even what they offer as quickly as possible.
Here are a few ways to find the critical success factor of the future - flexibility.
<h2>FIXED VS FLEXIBLE</h2>
The Covid-19 pandemic put a number of SMEs at risk. Without foot-traffic in their location, and facing the combination of travel restrictions and the consumers’ collective urge to save rather than spend, many had to take drastic steps to try and find ways to make their business work.
Across the globe, business owners had to rethink what they could offer. For some, the shift was relatively simple: such as restaurants who had could partner with or develop delivery services and create <a href="https://www.restaurantbusinessonline.com/operations/ghost-kitchens-are-here-stay-heres-how-make-most-model">so-called “ghost kitchens”.</a>
Some businesses focused on converting their production facilities to develop PPE and other essential supplies to aid in the fight against the spread of the virus.
Others went further still: in the education, events and public speaking arenas, many had to move their live offering into the virtual arena - and quickly. Seminars were replaced with webinars, and Friday nights were suddenly spent on digital platforms like Houseparty.
While these are admirable adjustments, it is worth noting that there are some businesses that have simply been unable to respond or react - particularly in the hospitality, travel, and construction sectors.
With unforeseen events like the pandemic possibly lurking around the corner, it’s important for business owners to understand the difference between flexibility, and being fickle - because it is neither feasible nor profitable to change course constantly, but it is equally costly to stand still.
Being flexible as a business is all about ensuring that you have the technology, processes and strategic frameworks in place to react to relevant market conditions quickly, but not impulsively.
So, how do you embed that capability in your organisation?
<h2>PEOPLE, PLATFORMS, PROCESSES</h2>
Like any other business or brand attribute, being flexible is not just “something that happens”; it is the result of intentional focus and investment in several related parts of your company.
Firstly, you need to prepare your people for constant, quick adjustments - and it’s an industry in itself. Developing a mindset and environment where your team is comfortable with change, rather than clinging to the comfort of fixed processes, is essential. Often, it starts at the top. Take opportunities to put yourself in new positions, and encourage your team to do the same. Training, webinars and books are also a great way to get them to be ready for anything.
Next up, you need to invest in platforms and technology that allow you to collaborate and change in real time. The move to remote work has shown just how important it is to have these systems in place. Agreeing on a single communication channel like Slack, Skype or Teams is a good start, but you may also need to consider filesharing services and project management tools to keep track of <a href="https://www.forbes.com/sites/falonfatemi/2019/06/28/the-future-of-work-is-distributed-heres-how-your-company-can-strategize/#704ad0a5193d">your distributed workforce.</a>
Lastly, embrace fluid processes. Business empires have been built on bureaucracy and following the chain of command, but that siloed, hierarchical approach is just too slow to get into new opportunities quickly and at scale. Embrace new management models and ways of working, like Agile, can help your whole organisation move more quickly.
If implemented correctly, these measures should also free up enough resources for you to reinvest some of your profits or time - even if it’s a small amount - in exploring innovation, and trying to figure out upcoming opportunities while keeping the lights on.
<h2>HEDGE YOUR BETS</h2>
Another critical factor in building your flexibility is the need to play in different spaces to create multiple revenue streams that you can prioritise as needed.
Let’s use a fictional example - like a local drycleaner. Although the bulk of their business involves people dropping their laundry off and collecting it a few days later, offering an online pick-up and delivery service, serving local B&amp;Bs, investing in eco-friendly products and machines, opening franchises, and even offering online stain-removal assistance via live chat are all ways to ensure that, should the worst happen and foot traffic drops off, there’s always an option to pivot into and prioritise.
Generally, this means exploring the digital marketplace to build out your business. Apps like Telkom Business’ Yep! are a powerful tool for building both your digital presence and a new customer base, as the platform allows you to promote your SME and respond to customer requests.
Really, it’s about having enough skin in the game to keep profits healthy but adapt when needed - and with a little help and the right tools, it’s a balance you can find, and flourish from.
<img src="https://api.yep.co.za/cms/sites/default/files/inline-images/AdobeStock_304740562%201.png" />

Hybrid retail:  Revelation or Risk?

The pandemic has been a powerful measure of many businesses’ reaction speed, as they have raced to reinvent themselves as best as they can to turn existing assets, tools and ideas into profitable opportunities.
While many SMEs have managed to pull off this rapid-fire <a href="https://www.minttwist.com/blog/brands-responding-to-coronavirus/">reimagining of what they can do</a>, the physical restrictions that have come with Covid-19 have forced many to engage with an unknown entity: the digital consumer.
Although it could be argued that it was inevitable that every entrepreneur would eventually have to get comfortable in cyberspace, it is still a challenge to package your products for this new audience - unless you understand who they are, and what they want.
<h2>STARTING YOUNG</h2>
People of all ages have proven that most digital tools are easy enough for anyone to use - everyone from grandparents to toddlers are now qualified Zoom pilots - but the bulk of online consumers are still from two groups: Millennials and Generation Z.
These generations, comprising people born between 1980 and the early 2000’s, have distinct digital taste, because they have lived through the internet and technology boom, and are digital natives: they don’t really remember life before the technologies of today.
They’re used to satellite TV, cell phones and social media - all phenomena that have conditioned them to expect instant gratification and round-the-clock engagement.
These expectations pose a problem for businesses built around longer lead times and office hours, but because these audiences were raised on digital, they are also more likely to trust brands in the virtual arena - provided their demands are met.
Brands and businesses have started to <a href="https://www.mckinsey.com/industries/retail/our-insights/how-gen-z-and-millennials-are-shaping-the-future-of-us-retail">recognise their growing potential and spending power</a>, and created digital ecosystems to try and attract and convert these notoriously picky young people.
<h2>THE DIGITAL CUSTOMER EXPERIENCE</h2>
There are a number of factors that can influence your business’ ability to connect with, and impress, the online market, all of which fall under the bracket of digital customer experience.
Firstly, you need to be visible where they spend their time. Both so-called traditional social media channels, like Facebook and Twitter, and emerging channels like TikTok allow brands to communicate directly with prospective customers.
Like any marketing channels, it’s critical to showcase your brand in an appealing way that resonates with your audience. That could be anything from a new product targeted specifically at a younger demographic to a sub-brand or collaboration with a relevant creative artist.
Luckily, the majority of these channels allow you to target and serve people based on their interests, age, location and a variety of other filters, so it’s easier to get your message in front of the right people.
Once you do, you need to entice them to act - and ensure that when they do, it’s as easy and enjoyable as possible to complete the desired user journey.
There’s almost no point spending money on digital advertising if your website experience is complicated or confusing - because the frustration of a bad experience will inevitably find its way into an online review that can do irreparable damage to your business.
Luckily, help is at hand - literally.
<h2>YEP! WE’RE HERE TO HELP</h2>
Telkom Business have built a digital marketplace that makes it easy for SMEs to connect with the digital audience, easily.
Yep! is a platform that makes it easier to build an intuitive digital experience and promote your brand to an audience who is already looking for local services. And because it exists as an app, it’s already in the right hands.
It’s a solution that’s taken the guesswork out of getting online, and with a range of new solutions being added (like appointment booking, quoting and secure payment) it’s the first port of call for anyone looking to expand their customer base - especially amongst those key demographics.
<img src="https://api.yep.co.za/cms/sites/default/files/inline-images/Group2493.png" />

The augmented audience: playing on technology’s turf

Over the last few years, the ability to sell your product or service online has reinvented the business landscape.
It’s seen new empires rise and many <a href="https://www.businessinsider.com/the-rise-and-fall-of-blockbuster-video-streaming-2020-1?r=US&amp;IR=T">well-established players crumble</a>, and increasingly, it’s become an essential component for SMEs looking to meet consumers in the digital marketplace.
Problem is, developing your eCommerce capability has always been a tricky technical process that involved the integration of a number of overseas platforms, local banks, and other unfamiliar systems.
This complexity was enough to scare off a lot of SMEs who simply couldn’t justify the cost and effort in an unproven market. Thankfully, that’s all changed - and there’s a whole world of new opportunities to explore.
<h2>FIRSTLY, LET’S TALK CORE FUNCTIONALITY</h2>
In theory, selling products and services online is simple, because all digital storefronts follow the same principles as a physical storefront.
Instead of putting together physical window displays to showcase specials and products to tempt customers in, all you need is a Facebook page to drive traffic, a website to seal the deal, and a good relationship with a reliable delivery company and you’ll be knee deep in new customers and revenue.
If only it was that simple.
Many a business owner has earned a few extra grey hairs trying to get their eCommerce ambitions off the ground. In the early days, the challenge was one of integration, as the vast majority of the software built to help make sales safely and securely was built abroad, and didn’t connect with local banks.
Although the arrival of solutions like WooCommerce and Facebook’s marketplace, as well as quick action by South African banks, lessened this complexity, the stark reality of eCommerce is that even though the purchase journey happens online, it still needs to be completed by the smooth, timely delivery of a product.
This is a significant challenge in itself. Apart from a secure website, you need the ability to identify your customer, allow them to browse available stock and place it in their basket, make a secure, verified payment, and then a backend system smart enough to give your warehouse all the info they need to pack and ship. Not to mention returns, reviews, and support.
Getting all of these moving parts to work smoothly is no mean feat, but even the best systems fall short when they’re missing the people that matter most: the customer.
<h2>CHANGING THE CHANNEL</h2>
Apart from the restrictive technology environment, another stumbling block in many SME’s eCommerce adventure is the relatively small customer pool.
Understandably, early pioneers found the average South African a little sceptical about shopping online; but even as that initial apprehension faded, the fact is that online businesses were competing for a very small market , people with the means (both financial and technological) to embrace this new way to shop.
Thankfully <a href="https://www.accenture.com/_acnmedia/pdf-108/accenture-ecommerce-pov.pdf">that audience has grown</a>, but the increase in mobile users and the social media boom have also meant that SMEs have to fight with larger businesses and franchises for today’s most precious commodity: customer attention.
In today’s competitive climate, and with the effects of the global pandemic likely to be felt for a long time to come, the cost of getting noticed and driving traffic to your online store has seen many SMEs put the dream on pause.
But help is at hand.
<h2>YEP - WE CAN HELP</h2>
Having recognised the need to help SMEs overcome the challenges of technology and visibility, Telkom Business have created Yep!, a digital marketplace for SMEs.
The app offers both business and consumers the full eCommerce experience: from personal branding and performance reviews to the ability for customers to book appointments and make secure payments, this local platform is set to finally make enviable eCommerce a reality for everyone.
<img src="https://api.yep.co.za/cms/sites/default/files/inline-images/Group2492_0.png" />