Shift in business ideas- Then V/S Now

Achal Chaurasia-Shift in business ideas- Then V/S Now

The world keeps on shafting focus every now and then, in this matter, one thing that remains constant is change.

Then V/S Now

Business activities date back from the very beginning of this worldly circle. Earlier, it was the barter system that prevailed. Years after that, in order to promote more convenience in terms of trade and exchange, entities with monetary value like specific metal coins made of gold, silver, etc. were introduced. Years later, monetary entities like coins and currency notes that were formally issued by the government bodies came into picture. Since then, trade and all the other business related activities have been going on following this aspect of exchange.

However, as the world has started walking swiftly on the path of digitization and virtual actions, there are more than just the physical options of exchange available now. Virtual currencies like bitcoins have now started floating actively in the market. Other than this, virtual money transfer applications and online banking systems are now established that make exchange of money as well as purchasing activities easy, safe and quick.

Now that we have talked about the system of trade and exchange, we move onto how the business ideas, plans and concepts that have captured the business market have gone through complete transformation.

Transformation from conventional to non-conventional

Business back in the days meant establishing a mainstream office from where goods are either sold in retail or wholesale form to the public keeping aside a certain amount of margin of profit that collectively adds up for the businessman at the end of keeping aside all the other expenses like manufacturing, transportation, packaging, etc.

Other than this, people were also involved in service related businesses where they provided their services like management, transportation, etc. for other businesses to keep running in a smooth manner.

But now the business trends have drastically changed. More and more people are getting involved in the tertiary business sector, which focuses on human development and skill investment along with similar kinds of stuff rather than just providing products and tangible entities.

Transformation from offline to online

Years down the lane, people established offices, shops and showrooms to sell items and run their businesses. This trend continues of course, but one thing that has changed is that new entrepreneurs have started working to attract their potential customers through both offline and online mode.

People have started using the internet as a powerful and successful tool to attract an audience easily and quickly. The online mode turns out to be a good idea to promote businesses because a vast group of netizens spend most of their time over the internet, therefore, hooking such customers then and there can be an opportunist plan.

Transformation from domestic to international

Earlier, our country ran an individualistic and domestic level business market, where goods and services that were open for sale were country made and markets were closed to the introduction of foreign made products due to trade restrictions as well as barriers. However, businesses have expanded tremendously due to the trade restrictions being close to negligible now.

Nowadays, the market is full of imported items to such an extent that people have started choosing for foreign items over the country-made ones because of the good quality and affordable price.

The competition is next-to-neck in this aspect.

Conclusion

The business market is quite fluctuating and therefore, unpredictability prevails to a great extent. As the world is always changing, changes in trade and business activities can also be expected. Such dynamic changes are also welcomed by the customers to a certain extent as more options means more choices to opt from, depending on the specific requirements.