2007 // Kenneth Lim

The Redundant Human

July 15, 2007 By Kenneth Lim

Advancement in information and industrial technology has resulted in many new solutions that make human involvement unnecessary. Take travel websites for example. Websites like Expedia, Orbitz and—my personal favorite—Kayak are able to search the web for you to find the best deal for your next vacation.

Where does the good old travel agency come in? Nowhere, really. Some may have their own websites where they provide a similar search service, but the fact is that any human involvement can be cut to zero.

Of course there will still be people who prefer to visit a travel agency. Some travel agencies will continue to exist, but they only do so because they differentiate themselves by offering more than being able to find the best deal for a customer. They offer knowledge and expertise in a special area, like adventure travel, or specialize in a particular niche/audience.

Differentiate. Improve your skills and knowledge, if only to prevent being replaced by a machine.

Filed Under: Musings Tagged With: differentiation, execution, marketing, Strategy, tactics, technology, tools

Exit Strategies

June 17, 2007 By Kenneth Lim

Things stop working. Your TV for instance. That’s when we move on and buy a new one. Similarly in business, products/services stop working. Not everyone can be a Coca Cola, living off the success of a single, unchanged concept for decades.

Products/services come to an end for a multitude of reasons. Most common ones include:

Consumers don’t buy them anymore leading to losses
Margins have been cut due to competition
Companies divesting in a certain product/service
Substitute products/services have entered the market

Whatever the reason for the end of a product’s lifecycle is, have you thought ahead? Do you have in mind what to do once that moment comes?

Some questions to bear in mind are when considering future options are:

What would you want to do? Put motivation behind the direction you’d like to take.
What would your customers want you to do? Think about your target audience, your value proposition and your business model.
What can you do? Choose a direction that emphasizes your strengths and competences.

Think ahead. Stay ahead.

Filed Under: Musings Tagged With: analysis, goals, marketing, objectives, planning, Strategy

Think In Processes

May 13, 2007 By Kenneth Lim

The terms Business Process Reengineering, flowcharts and Microsoft Visio are enough to make most people throw up. In some cases, rightfully so, but there are useful purposes in charting your processes.

They give you an overview, either when you’re already in business or before you enter an initiative. Process diagrams give you an indication of how complex a certain series of activities is. Maybe something made sense during a meeting, but a diagram reveals how cumbersome that something is. Adjusting the process and implementing it will result in clarity and consistency.

Evaluate your processes. Look for shortcuts. Achieve results quicker.

Filed Under: Musings Tagged With: analysis, effectiveness, efficiency, processes

How An Economy Kills The Social Aspect

April 15, 2007 By Kenneth Lim

Last year, I wrote about altruism in online communities. Status and recognition were considered to be the currency in which community members were rewarded in exchange to their contributions.

But what if you had an actual economy? What if community members had access to an exchange to real or virtual currency?

As we’ve seen with virtual world Second Life, the presence of an economy has destroyed the concept of fair value and the social aspect of altruism. The result has been a community where the power lies with the rich and the rich protect their status by giving little and taking much. As a result, they impose a high barrier to entering the community’s elite and discourage the notion of sharing to those who enter the community later.

Play into your community members’ egos but don’t play into their potential greed.

Filed Under: Musings Tagged With: communities, community engagement, evaluation