Many businesses have stalled and entrepreneurs are afraid. The present situation is exceptional but not unique. Good and bad eras follow one another.
In bad times, companies drive down their operations. As times improve, the business can be rebuilt with old, proven routines. There may be a workable strategy, but at the same time the opportunity for renewal and growth may be ruled out. After disasters, the world has changed and it’s full of new opportunities.
After the financial crisis, new companies emerged such as Uber and Airbnb, whose new innovative approach to old business revolutionized the world. The bookstore Amazon became a major player in the modern platform economy with the creation of the cloud service platform AWS, as well as a number of other groundbreaking innovations that are still being implemented around the world.
Amazon’s secret weapon to success
Hockey legend Wayne Gretzky reached number one in NHL statistics in the number of missed shots. He will hardly be remembered for that record. When there are far more shots towards the goal than others, the record number of scores will come.
There is also a strong experimental culture behind Amazon’s success. The company produces thousands of innovations every year without big investments. The trick is to speed up testing the ideas. All ideas are given a chance. If the idea doesn’t stand a closer look, it will be shot down quickly. If the idea is feasible, it will reach the next level, and so on. There are hundreds of times the number of failures compared to successes. There is no need to fear failures. The more you fail the more you success.
How to apply experimental culture in service companies?
The experiment can also be applied on a smaller scale. Since the beginning of the corona epidemic, a large number of new innovations have already been made in the service offering. Some will continue to work, some will not. No one knows what the world will be like in a year. New business concepts are worth trying and it is good to allow failures. The winners are the ones who are the first to come up with workable innovative service concepts.
Husky is the most adaptable ERP system on the market designed for service companies. Support for various business processes can be quickly built into the Husky system. Editing data structures is agile without expensive and time-consuming coding work. Husky provides an excellent platform for service companies interested in an experimental culture.
Read how Sherratt Landscape Contractors Ltd take advantage of Husky’s adaptability
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