I was waiting at a bank recently and came across a fabulous article on Nick Leeder, the Managing Director of Google Australia (The Business View Magazine, NAB, 2011) who had some fascinating but down to earth perspectives on the digital world and I thought I'd share these with you.
Having a website is imperative! As Leeder suggests, "companies with their own website have 5 - 12 percent higher revenues than similar business that don't have a website". He equates this problem as being like a business not having a phone number. Quick tip - Check out the Getting Aussie Business Online initiative from Google and MYOB to help businesses get online.
On innovation, Leeder suggested thinking from in the shoes of your customer and "be as radical and innovative as they need". He also made a good point in the evolution of products and services, in getting them quickly to market and making alterations and improvements based on the market feedback when necessary. That way you don't miss the innovation edge. It is important to note that Google's size gives it the flexibility to do so and that smaller organisations may not have the budget to do so.
What was most important was the hard and fast facts about the internet:
"The internet contributes to roughly the same portion of GDP as the retail sector or Australia's biggest export sector, iron ore"
"The Internet is forecast to grow by $20 billion to be worth roughly $70 billion - by 2016"
Now if those two facts alone aren't a compelling enough reason to get your business online, I'm afraid you're on your own!