Certain modules and subjects we’re made to study, as part of our academic course material and leading up to a qualification in research and business analytics, may appear to be irrelevant, but once you actually hit the workplace you realise just how valuable they actually are. Of course we’re talking about the likes of Industrial Psychology here, so too some of those modules you’d find in the Humanities Faculty.
Entire industries are built around this knowledge, knowledge which is often taken for granted because it doesn’t appear to be as “scientific” as that obtained in many other faculties. That’s far from being accurate though, because the methods with which these industries are operated follow scientific standards to the letter, which is why business research is a multibillion pound industry, made up of lots of little different elements which come together to serve as the driving force behind the continued success of big businesses, companies, entities and organisations.
We’re at the heart of this industry and although sharing some insider secrets with our readers may appear to be akin to giving away trade secrets, we’re not – all we’re really doing is sharing some useful knowledge with like-minded people who can benefit from it. In addition, as part of our service offering, we undertake specialized business research projects through technology (similar to some of the best reporting software in the industry) that is labor and time intensive. For instance, researching every aspect of a very specific industry for a client looking to enter that industry, grow the operations into that industry, or maybe just come up with something fresh and new as a contribution to that field.
So there are two of these secrets which pretty much determine your chances of success should you require to fast-track your business or explore a fresh market, namely:
- Everything is modelled on existing practices
- The competitive advantage resides in leveraging existing technologies
Existing practice models
Any successful business is pretty much just an instantiation of an existing business model, such as how you get the likes of online casinos or even virtual reality casinos which demonstrate that the physical casino model is being modelled in the virtual space, just to make one example. It’s as simple as that really – there isn’t much by way of brand new business models coming into effect. Rather, there are disruptions to existing business models which are monetised before everyone else catches on and does the same.
Leveraging existing technologies
Well the quickest way to accumulate the most amount of money would be through rolling out some sort of existing technology and then monetising the licensing and use of content which is produced for that technology, such as how consumers buy VR glasses once and then in many ways pay to use the content they consume through those glasses, whether it’s buying 3-D movies, 3-D games or perhaps even just enjoying some of the best VR casinos on offer.
So it’s all about leveraging existing technology, not necessarily building your own from scratch.