4 Changes of Direction that Your Digital Business Might Require in 2020
3 min read
The new year is an opportunity to stop and take a look at how your business is doing. Do certain things need to change to have a more positive year of trade? Is a complete pivot over to something else necessary to get out of a bad plan?
Here are four possible changes in direction that your digital business might need in 2020.
Switching Your Site to Ruby on Rails
When you’re unhappy with the existing website and it’s more the platform or code base that’s not working for you then it may be time for something new.
Ruby on Rails is a different kind of open-source framework underpinned by the Ruby programming language. It was designed with the idea that developers could quickly develop working applications like a Software-as-a-Service app.
Using a ruby on rails development company that specializes in these kinds of developments will speed up the switch from a different site architecture. However, because most developers use Agile methodologies with Rails developments, development projects are far more structured, making them easier to understand.
Offering a New Product or Service
Have you begun to realize that the primary (or only) product or service that your business sells is getting a little long in the tooth now? While there’s often a way to redesign a product or add new service features, sometimes that won’t be enough to alter the impression that it’s not fresh or new.
There comes a time in the life of almost every product or service where it needs to be retired once something else has been fully developed, launched, and is succeeding in the marketplace.
Never fear, it’s not always necessary to make a huge mistake like with New Coke by trying to fix something that wasn’t broken in the first place. A new product that’s only subtly different but marketed in a distinct way can sometimes work too.
Embracing the Gig Model
When your business is finding it difficult to manage a deal flow that’s all over the map with surprising increases (or decreases) in projects agreed, it may be necessary to reduce the full-time staff roster in favor of a different labor model.
Using some freelancers or short-term contractors provides greater flexibility over who the company chooses to work with and for how long. People can be dealt with on specific projects that call for their expertise and a different team deployed on other projects.
Partnerships and Joint Ventures
It’s sometimes beneficial to consider partnerships or a joint venture (or three) to get the business into new markets. By working with an established player or influencer in the space, your business can gain meaningful traction without the risk of being mired in the weeds.
While not necessarily bringing much to the table yet, it’s likely that any deal terms will not be entirely favorable. However, create a setup that provides the opportunity to renegotiate later or set each deal to expire within a shorter timeframe. This allows for a more profitable balance of revenue and profits down the line.
Whatever you decide to do with your business, put some strategic planning into it. Don’t just leap before you look because any changes will carry long term consequences.
