Time has taken its toll on everything. Venturing into any business field was never the easiest thing to do -- alongside the huge capital required to build a brand, it takes even more resources to make a brand withstand the struggles.
This facilitated the social class division which has been in existence from the word go. Large companies with huge capitals easily ruled the market while little startups remained insignificant.
However, advancements have been consistently made in several sectors of human endeavors. This has made the business sphere a much easier place with new brands easily gaining dominance.
Below are five major advancements that facilitated the birth of most 21st Century brands. Every business or individual that understands these advancements and ways it affects the market is bound to succeed.
Marketing and Brand Exposure
Research by the Carnegie Institute of Technology shows that 85 percent of your financial success depends on your ability to communicate, negotiate and market yourself -- while only 15 percent depends on your technical knowledge. Hence, regardless of the idea behind a brand, inability to market such brand will eventually lead to its downfall. A few years back, marketing products and services to a large audience was something only the most prominent brands could afford. Little startups were significant only within their cycle.
Presently, however, large publications like Forbes often publish an evaluation of new startups to watch out for. Startups which make it to such lists are often on the right track to breakthrough as they stand more chances of landing more lead investors and gaining exposure and social proof.
Availability of Resources
Knowledge, funds, machinery and so on that are a prerequisite for building a solid business venture have all become at arms reach. With a little stumble around the platform that made most of these advancements possible, the internet, you can easily gain enough knowledge to help you get started in any field, meet lead investors, and also meet like-minded individuals who can contribute different ideas to make a significant accomplishment.
Connections and Networking
Networking has become a very common term amongst businesspersons. It has become overly easy to connect with individuals with knowledge relevant to your field, to share information, get ideas and also decide what promising business trends to adopt.
Also, for a business to soar, a lot of skilled manpower is required. So, there is a need to outsource. With many job boards available, brands easily recruit skilled remote workers in a matter of minutes, which was not possible a few years back. Most large brands like WordPress, Dell, GitHub and so on have incorporated this work-freedom initiative for their employees.
Unlimited Ideas
Lack of ideas is a major cause of market stagnancy in the early years. Presently, however, new brands easily evolve from advancing the ideas of existing brands. For the course of internet marketing, blogging, social networking and the likes, platforms like WordPress, Blogger, Drupal, and so on embraced the market. Still on this course, many other platforms like plugin providers, theme providers like Colorlib and so on popped up to help the prior platforms better serve their course. These continuous advancements of old ideas play a part in the perfection of products and services. It also compels companies to deliver great value to the community in order to remain the consumer's choice.
Technology Advancements
The series of tech advancements in the past few years, including the ongoing automation of manufacturing industries with AI intelligence, has also made the production of high-quality products easier for companies.
Human labor was used in the past years. However, as humans, there's a limit to the level of perfection we can achieve. And producing large scale products that are high in demand will be difficult for companies.
However, time has taken its toll on this too. Different types of machinery serving different purposes have evolved. Also, companies making these machinery have doubled in size, and this creates a form of competition thereby reducing the cost of acquisition of these machines.
These are all facts, but what is the essence of listing them?
It's simple: So that you can understand that in this digital age of unlimited opportunities, everything is possible -- and most importantly -- the resources you need to make them possible are within arm's reach.
Take these ways the world has become a much better place into consideration and strive to reap the benefits of these advancements as much as possible.