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September 22 2019.
   
Your world is Flat !

Recently, I came across the best seller "The World is Flat: A Brief History of the Twenty-First Century", by Pulitzer Prize-winning journalist Thomas L. Friedman. He argues persuasively that globalization is doing more than levelling the playing fields; it's fattening them. By that, Friedman means that powerful economic forces ranging from trends like outsourcing and off-shoring & easy access to Internet; are reducing the costs of entry. Today, almost anybody can have access to information anywhere in the world anytime.

Easier access to information (in real time) means that all goods and services are in danger of becoming commoditized. In fact, most of my clients, tell me in this flat world their No. 1 problem is Commoditization. They say it's tougher and tougher to differentiate themselves not just from their nearest competitors, but from everybody else in the market. Almost literally overnight, markets are being be flooded with new players, or even old players with new products. And unlike in the past, when it was years for a newcomer to become a serious threat, now many contenders enter the market virtually on an equal footing!

As the selling environment gets more challenging, I strongly recommend sales-marketing engineers focus on few key areas,

  • During customer interaction invest majority of your time on listening & asking questions rather than making sales pitch.

  • Understand & work out suitable strategies to the rapidly changing macro economic conditions for your customer & your organisation.

  • Look at the business horizon, there is price pressure building up; start working on reducing cost of sales & cost of your product.

  • Develop skills to assimilate & make sense of immense information available, especially affecting your organisation (& your Job!). If you dont know how to make sense of this information explosion, it would be information pollution for you.

  • Information collection & analysis should be like breathing, continuous; without which you cannot survive in this flat world.
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