The mindset and skills every SME should invest in NOW to succeed in future

In today's increasingly digital world, businesses are required to master a new skill set to stay competitive. What’s more,  they’ll need a future-ready mindset if they want to keep on succeeding.

Digital Boost, a completely free, government-funded resource designed to help small businesses grow, outlines what this new way of thinking and new skill set entails and some smart-cuts to honing them. 

Mindset matters
To succeed in an increasingly complex digital age, businesses need more than just technical skills. The single biggest driver of success in business is a culture that is willing to learn, adapt and innovate forward as the business landscape shifts and changes. 

At its core, this is the difference between Smith & Coughey (currently amidst a struggle to turn a profit from its shopfronts) and Trade Me (which swiftly capitalised on the online retail market).

Working on your way of thinking can help set you up to thrive in the future:

• Keep learning: The digital world is always changing. To stay competitive, it's essential to regularly learn new things and stay up-to-date with the latest trends and technologies. Continuous education can help you anticipate shifts in the market and respond effectively. 
• Be adaptable: Flexibility is crucial in a fast-paced environment. Being open to changing the way you do things and willing to try new things can help your business navigate uncertainties and seize new opportunities. Adaptability ensures that your business can pivot quickly when faced with unexpected challenges.
• Encourage innovation: Creative thinking is at the heart of problem-solving. In the digital age, encouraging innovation within your team can lead to the development of unique solutions and new ways of meeting customer needs. 
• Build resilience: Setbacks are inevitable, but resilience enables businesses to bounce back and keep moving forward. Learning to recover from failures and persevere despite difficulties strengthens a business's ability to weather challenges and emerge on top. 

Must-have digital knowledge 
Once you’ve worked on your appetite for acquiring and putting new knowledge to work, it can be tricky to decide on what to tackle first. 

Starting with these digital skills will help focus your efforts for maximum ROI:

• Digital Marketing

Digital Marketing leverages various online strategies to improve your business's visibility and engagement with customers. By creating targeted email campaigns, strategic online advertising and compelling content, you can effectively connect with your audience. These methods ensure that your business not only reaches but also resonates with your target demographic for maximum impact.

• Social media management

Social media is a great way to connect with customers and build your brand. Effectively managing your social presence can be a cheap way to engage your audience and foster community. Understanding social media analytics is a key part of this -  providing deep insights into audience behaviour and preferences so you can tailor your marketing efforts to their needs.

• Search engine optimisation (SEO)

SEO makes your website easier to find on search engines like Google. By optimising your content and structure, you improve your search rankings. Effective SEO uses keywords, high-quality content and a user-friendly experience to attract organic traffic and increase sales - every business owner’s dream. Google Business Profile is a great example of a free and straightforward way to get found more easily online.

• Content creation

High-quality, relevant content, such as blog posts and videos, can help engage your audience and establish your authority. Consistently delivering valuable information builds trust and encourages customer loyalty and conversions.

• Data analytics

Data analytics helps you identify what works and what doesn't in your business by analysing customer behaviour and market trends to provide insights that help you make informed decisions. Implementing data analytics can help optimise your operations and improve business performance.

• E-commerce management

Selling online is essential for growth. E-commerce management involves maintaining an online store, managing your inventory, processing orders and providing great customer service. A strong e-commerce strategy can expand your market reach and increase revenue by offering your customers a seamless shopping experience.

• AI and Productivity Tools

There are a wealth of AI and productivity tools out there to enhance efficiency and help you remain competitive. Not only can they streamline operations and automate mundane tasks, but they can also act as dynamic content creators. AI can generate personalised customer communications, marketing materials, and even content strategies, adapting to shifting market trends and customer preferences. Knowing how to use these tools to your specific needs allows you to focus on growth and innovation.

Take a smart-cut to success
You don’t have to ‘go it alone’. There is plenty of targeted, free support available for businesses. In New Zealand, over 70,000 businesses have joined the Digital Boost Community, where they receive expert advice and support from government-funded digital advisors. This site offers simple tutorials, interactive online events and a personalised digital action plan with the Checkable tool, tailored to your unique needs. There’s also a Facebook Community group which is a great opportunity to connect with other business owners and share your experiences.

There’s never been a better time to equip your business with the skill set and mindset needed for a successful future. With the right focus, it’s possible to stay ahead and thrive in the digital age!