From Intuition to Intelligence: What Traditional Businesses Can Learn from Tech Culture

The business world is constantly changing and evolving, especially in the age of modern technology. Traditional business models, once steadfast and reliable, are now quickly becoming outdated as tech culture advances at a rapid pace. If you’re running a conventional business model, it’s not too late to adapt and incorporate new technology into your business practices. This article details seven lessons that traditional businesses can learn from tech culture.

1. Make the Customer the Priority

The technology sector specializes in customer service and engagement, utilizing technology to connect customers and brands faster than ever. Tech companies prioritize customers by basing their decisions on real customer feedback, reviews, and data. Traditional businesses can learn from the tech industry by shifting their emphasis to understanding customer needs and utilizing new technology to do so.

Social media is a critical tool for businesses to adopt for connecting with consumers, as it helps brands to reach millions of potential customers in just a few clicks. Technology provides customers with more options to interact with businesses digitally, enabling them to leave reviews, provide feedback, and receive product support. All of these advantages provided by technology can help traditional businesses adapt while enhancing their customers' experiences and avoiding unnecessary pain and frustration.

2. Rely on Data

In the business world, “trusting your gut” is a notion that has led decision makers for decades. However, in today’s new age of analytics and data collection, relying on data to aid in decision making can be far more accurate. Even the smartest and most business-savvy individuals are influenced by their own opinions, whereas data is purely fact-driven. Technology companies have proven that decision making driven by analytics can lead to higher efficiency, particularly in areas like product development, content creation, and marketing. Traditional business owners need to embrace statistical analysis and optimize data utilization to keep up with modern tech companies. 

3. Practice Iterative Product Development

Traditionally, businesses practice a simple and straightforward development model that focuses on creating a strong initial product. While this works great for some, tech companies have developed a newer product development cycle that takes multiple iterations of updates and modifications to perfect a product. Iterative product development is a unique practice of the technology industry that can be applied across a variety of businesses, regardless of your niche.

Major tech companies routinely develop and launch products in phases, evaluating and making changes to each successive model until reaching the ideal product. Iterative product launches allow companies to get real-time feedback from customers and also help push their product out faster. Instead of a one-and-done product, companies can learn from tech culture by thinking of products like recipes: routinely tasting different combinations and making modifications when needed.

4. Encourage Innovation and Creativity

Tech culture has embraced creativity unlike any other industry, encouraging innovation and challenging the status quo. In today’s ever-connected world, it takes creativity to win over customers and draw their attention. Traditional businesses may struggle to break free from the rigid structures and systems they’ve operated under for years. However, for long-term sustainability, innovation is required to keep up with modern trends and consumer behavior. Businesses need to adopt an innovative mindset when planning for the future, otherwise they will get left behind.

5. Increase Speed and Efficiency

Speed and efficiency are massive advantages that tech has over traditional industries. Technology companies are able to reduce bottlenecks and eliminate wasted time by automating processes wherever possible. A prime example of this is utilizing artificial intelligence for low-impact and time consuming tasks. Although AI may seem scary to traditional businesses, those that can adopt it will have a major advantage. 

Technology has allowed us to be connected around the clock, with more freedom and flexibility over the hours that we work. Teams can act quickly and respond to problems efficiently by utilizing technology to help increase the speed and efficiency of traditional processes.

6. Optimize and Modernize Workflow

Technology has not only impacted physical products and the processes we take in developing them, but also the way in which people work. The tech industry has shifted the traditional limitations of 9-5 work days and allowed workers an unprecedented amount of flexibility in choosing how, when, and where they work. This has not only increased productivity but also optimized efficiency - after all, not everyone can be productive under the same rules. By taking a page from the tech industry, traditional businesses can modernize their workflows and let go of outdated practices like daily meetings and fixed schedules.

7. Invest in the Best Technology

Regardless of the industry you’re in, the economy does not forgive those who fail to invest in technology. From manufacturing to marketing, businesses that are open to learning newer and more sophisticated technologies are the first ones to reap the rewards. Whether you’re working as a salesman or chiropractor, technology can benefit your business in some way. As a business owner, it is essential to stay on top of new technological developments in your field; you can’t afford to let your equipment, software, and systems become obsolete, or to let your competitors capitalize on a new type of technology first. Consider your company’s core values when investing in new technology, and make your business goals the center of every technological choice you make.

Conclusion

Adapting from traditional methods of running a business is an ever-evolving process. Transitioning from conventional intuition-backed decisions to data-driven intelligence allows companies to make meaningful improvements to productivity and efficiency. By prioritizing customers, leveraging data, embracing iteration, and encouraging innovation, even businesses outside of the technology world can benefit. It’s time for traditional business models to open their eyes and invest in technology before it’s too late. The future belongs to companies that succeed in combining technology with conventional wisdom to form a symbiotic relationship.

Author Bio

Author Name: Sherjan Husainie

LinkedIn: https://www.linkedin.com/in/sherjan

Author Bio: Sherjan Husainie is the Founder of KIRO,  the world’s most advanced chiropractic brand. He studied Aerospace Engineering at the University of Toronto and Financial Engineering at UCLA Anderson. Before founding KIRO, Sherjan worked at Google and was a Vice President in Investment Banking at Morgan Stanley. His mission is to make modern, accessible chiropractic care available to 100 million members globally.

Headshot: Drive

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