14 Factor, How has the internet changed business

The Internet changed market research, business planning, operations, production, management, marketing, selling, financial methods, and leadership training & expansion techniques.

In this article, you will learn how has internet changed business positively. You will learn with examples, best tips, and information about internet-connected business tools.

So let’s get started:

1. Market Research:

Market research is important to gather information about the consumer’s needs. It was not that easy and businesses only conducted the research in local markets and locally. But the internet changed the ways of doing market research for new products, services, and consumer problems.

Now there are various tools for market research on the internet. Such as Google keyword planner, google trends, google analytics, social media, survey, etc. And there are also many market research services and professionals, websites, blogs, and reports available on the internet.
Now it’s easy for small-scale business research and start the business after analysis of data. It’s easy to test the business and product ideas with the help of internet technologies before launching in the market.

2. Business plan software & templates:

A business plan is important for every business to create, find, manage and execute business objectives, and strategies in day-to-day activities so that they achieve the business goals and get consistent growth in business.

In older days it was used to be in papers, diaries, notepads, and whiteboards and took too much time. In today’s time, there are pre-designed business plan templates, tools, and applications available on the internet that anyone can use. Now the internet changed the ways of building and planning business strategies.

And it’s really helpful for startups, freelancers, small-scale business agencies, and home-based business owners to plan their business using templates and software.

3. Office locations, types, and competitors analysis:

The Internet changed the ways to find the best office location and markets. Now people are searching on Google for the best office space for rent. They are using Google Maps to find out which area has more population, other businesses and how many competitors exist in that area.

With this help, they can better plan their productions and marketing or selling units and methods. It was not that easy before the search engine or Google Maps to find and contact the sellers or owners in a few minutes.

4. Office furniture, equipment, and office interior design:

The way to build and bring Infrastructure development for production, management, and marketing is changed. Now customer data and business applications are stored on cloud servers that reduce the cost of data management.

Furniture and IT equipment such as a laptop, printer, and internet connection for the office are searched and purchased online. It saves time and money which is important for self-started business entrepreneurs.

Now business is able to design office space creatively and according to the field. There are various expert designers, tips, and creative techniques available on the internet.

These days office designs are very creative which promotes enhanced productivity and ease of doing work.

5. Production, Distribution, and Support are Faster:

The Internet changed the methods and process of product/service development and distribution. The availability of communication and collaboration tools increases the speed of production. Team members, customers, and the project manager can communicate and work with each other in real-time from any device and anywhere.

Various production content, business services, and tools available on the internet fasten the process of content creation, product development, and distribution. Such as Google Maps to find a store location or customer location for the delivery.

Logo design services, typing services, website designing services, accounting, management applications, etc. are available for every business. The availability of options changed the ways people conduct business.

6. Marketing is now digital marketing:

While traditional marketing is still effective for many businesses. But small/mid-size business more prefer online marketing methods and techniques. It was very tough to reach a wider and more targeted audience without the internet.

Advertisements on social media networking websites pay-per-click ads on the search engine, email marketing, content marketing on the business website and video marketing are more effective and less expensive.

Anyone can build an online presence for their business by using google my business listing, social media pages, and websites to get found out by the customers searching on google and other search engines. Customers can find a business website and get informed and educated about the services/products.

Customers can find business locations and contact the services/product provider anytime on any device on the go. That’s why almost all businesses are going for marketing online.

The best part of digital marketing is that businesses can understand and analyze the feedback by using data analytics tools and applications. So that they know how their marketing and promotional strategies are working. After the data analysis, they can create a highly targeted marketing campaign that connects customers with the business. That’s why internet marketing is the best preferred method in today’s time.

People are spending more time on social media, search engines, videos, and blogs. And the internet provides the options to connect with the right customer at right time.

7. New ways to hire employees:

The Internet changed the ways of hiring and attracting top talent in the business. There are websites on which you can find relevant candidates for Finance, IT, Sales, Marketing, HR, etc. such as Linkedin, up work, freelancer, etc.

It was difficult a few decades ago to search, and identify talents. Today, experts have their own websites on which you can find their skills, experiences, and career goals. The biodata or resume is now a portfolio website. Search on google and you will get thousands of people available to work with you part-time and full-time. This is speeding up the process and management work.

8. Leadership and employees skills development training programs:

Leadership and skills development programs are important for team members, project leaders, managers, and business leaders. Before the internet, there was a lack of availability of leadership and skills development programs. They were mostly part of big cities and companies. Training employees were long-term hard work. But the internet changed many things.

There are various leadership training programs for CEOs, Managers on the internet. Employees can do online courses for specific skill development according to the project. There are Leadership, and skill development videos that anyone can watch for free. Access to education is now on mobile, and computers. And now it’s one of the biggest changes that changed and improves the ways we do business.

9. Less time-consuming banking and financial management:

Banking and financial management is the main part of the business in daily operations. Banks help through term loans to support capital expenditures for setting up new ventures, expansions, and renovations.

The use of banks for savings, cash management, company account, and loans are common in business. Banking helps businesses through term loans, project finance, and capital expenditures. And there are a variety of loans, accounts, and services for corporates and small businesses.

But before the internet it was time-consuming, the process was slow and required a special person for accounts management, approval and loan information, etc. banking works in business. It was not good for startups. But now the internet changed the banking system and now it’s bringing change in the business.

Now businesses can use all kinds of corporate and personal banking services on the internet, and apps by using mobile and computers. They can apply for loans, transfer and receive the money, print out the account summary, etc. in just a few seconds from anywhere and on any device.

Now business owners, cashiers, the manager can use banks’ own apps or third-party apps and wallets for daily banking works with the help of the internet. The Internet changed the difficult process of banking into easy to manage all financial work on mobile and computers.

10. International expansion opportunities:

By using eCommerce, digital marketing, and data analysis tools and methods small and big business can expand business from 1 city, and country to many countries and cities with the help of the internet.

It was not the case before the internet. The expansion was costly. The business was only promoted in local markets and expansion was not that common, especially for small-scale industries.

But e-commerce changed the game. Now anyone can sell their products and services using the internet in any country, or city. Products and Services are now delivered to the home.

A variety of low-cost marketing and advertising options and data-driven decisions help to target specific customers, cities, and countries. And this is a boon for businesses.

11. Business automation tools to reduce cost:

There was a time when business owners and teams have mandatory to sit in shops and company offices. It was because customers can come anytime. And there were people who have to visit many businesses daily for various works such as meetings, accounts papers, approvals, and data.

But after the internet the communication is through google hangouts, data is created and saved in clouds automatically, applications are working and savings data automatically, selling and customer feedback is automatic and digital marketing is automatic and durable.

Now businesses are using more machines than humans. Drones for delivery, CCTV cameras connected with mobile apps, etc. Today, machines are doing management work. And the owners, and teams are busy with innovation.

12. More freedom, flexibility, and profits:

Due to ease of doing business, use of business automation tools, use of digital marketing and e-commerce and opportunities for expansion helping businesses to increase profits.

The use of business automation tools, the Internet of Things, Cloud Computing, Artificial Intelligence, e-commerce, digital marketing, etc. helps businesses to generate more profit and everything is connected to the internet and business owners can monitor even 50 offices from an internet-connected mobile phone. It is providing freedom, flexibility, and wealth for businesses.

13. The higher the speed of innovation:

There are billions of people using the internet. And many of them use the internet to innovate old business solutions into the new version. Many are learning on the internet.

They are getting business and technical skills. No matter where from they are. Even small village people can start a business and can provide services worldwide.

The Internet provides everything that is needed to start, operate and make a business profitable. There are business tools, education, and customers and these all are available on the internet.

14. Privacy and security compromised:

The Internet changed almost everything in business. And the biggest and worst change is the compromisation of privacy and security. There are various programming languages that are used to scrape data from other websites. There are tools that help to generate fake likes and fake news. There are thousands of complaints on the internet about online banking and fraud.

There are people who call you daily to sell products. They have your data. What you are doing and how you are doing it is transparent. Transparency is good but it has limits. No business owner is public property. it’s not bad that everything is online and everything is transparent.

But the bad happens when fraud people or companies steal your data and approach/sell/mis config it.

In conclusion, it looks that the internet changed the business dramatically. But in reality, the internet is a technology and a tool that is created by humans for humans. it’s an invention. But it can be destructive if it is used or educated wrongly.

Common people don’t think that much technically so they can be manipulated by anyone and anything. It can be fake news, fake profiles, or fake popularity.
Always remember this quote: Don’t get controlled by digital media, social media, and any kind of technology, instead you have to control it. But for that you need education. Education that is human-friendly. And this is the website that will educate you to use the technology effectively in your business and career.

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