Technology is an ever evolving phenomenon, and it seems like that’s never been more relevant than it is right now. While this may make long-term business decisions seem like a questionable idea, you still need some stable foundations if you are going to stay relevant and get ahead of your competitors.
Rapid technological change has often been touted as one of the largest challenges to business leaders. The endless challenge of keeping up to date on both innovation and all the latest skill sets is an art in itself, and many are finding themselves left behind.
While it may sound counter intuitive in an ever changing market, long-term relationships are one of the best ways to keep one foot above the rest when it comes to rapid technological changes, and if you don’t believe us, then we’re here to tell you why.
Constantly Bringing in New Team Members Costs Time
We all know the old saying that time is money. However, when we are talking about rapidly shifting markets, time itself can often be even more pertinent. With a good team around you, built and nurtured on strong relationships, you don’t need to hire new people. Save yourself all the time and effort it takes to hire and teach your business culture to new recruits and get a head start on the job at hand.
With longstanding clients, the two of you can grow and evolve together, making sure you are each fully integrated with one another’s attitudes, ideals and desires. When the time comes to design and develop the next product, you’ll have an intimate knowledge of the brief already, and won’t need to waste all the time it takes researching the market.
Building Trust Is an Integral Part of Any Working Relationship
Trust works both ways: you will obviously want to work with clients and teams you can trust, but more importantly, they will want to work with someone they can depend on to deliver their goals. They will need to trust that they can share every part of their vision with you, and that you will be receptive and understanding of exactly what they’re looking for from their new product.
This kind of relationship does not just develop overnight, and if you’re constantly changing agencies around from project to project, no one will ever really know where anyone stands. Strong communication is key, and once you’ve set up a deep working relationship with a client, you will gain a deep understanding of exactly how each other communicates, and ultimately get the best possible results from your partnership.
There Are Always Multiple Components to Consider
While there may be innovations and technological advances for a final product, it’s also true of the components that go into creating it. With electronics for example, we could consider software, hardware, and display technology, just for starters. Consider how many components make up a mobile phone or television. Each and every one of these components is constantly evolving and improving, and it’s important to keep on top of these innovations so you can utilise them in your products.
It is also important to consider more than just the technology. Look at how the item will be used, who will be using it, and how it could be used beyond your target market. For example, many technologies developed for the gaming industry can find their way into medical or military applications.
Long-Term Relationships Lead to Greater Output
Your long-term relationships will ultimately help you up your game, with your products becoming all the better for it. As we mentioned early on, bringing new technologies into the fold is always going to require a fresh new approach, and you don’t want to be stepping into the unknown with people you can’t trust. The business world is a cutthroat environment, and all the hours lost to training new teams or developing new relationships will put you way behind the competition.
At the end of the day, a positive long-term relationship with teams and clients you can trust will lead to a far greater output. In many cases this will help you to develop specialised expertise that could help you bring on more clients and teams in the future, but ultimately, it’s the best way to avoid becoming stale.
