Publications2021-12-15T19:41:50-08:00

Resources

Next Step’s consultants are experts at taking companies to the next step of growth. We frequently publish white papers, articles and other documents, which we  like to share here with our clients, partners and business community.

2020 Vision – Digitalization for Successful Future

Welcome to the global economy, characterized by rapid, disruptive changeand accelerating adoption of new technologies. Are you and your organization positioned to remain competitive in the face of these fundamental transformations? And are you well-prepared with a strategy to proactively address tomorrow’s challenges?

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Digital Business: Imperative Not an Option for Customer Success

How to Get Started Now

In 2015, IDC predicted that within three years the top30% of companies in all industries would be seriously challenged by an innovative competitor.Today, only two years later, this seems conservative as Tesla, Uber, and others overtake the automotive industry, Amazon dominates retail globally and born-digital startups penetrate all traditional markets.
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Digitalization – The Next Step to Success

“Those who don’t change will become extinct”. In 2015, IDC predicted that 30%of the top companies in any industry would be overtaken by a new competitor by 2017. Reality shows this was a conservative view.

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Digitalization: From Product Vendor to Service Provider

Successful Business Transformation to the Cloud

Companies in virtually every industry can deliver unprecedented value to their customers through new technologies. By embracing the power and ubiquity of digitalization, organizations can transform from product vendors to service providers with strong customer loyalty, sustainable and recurring revenue and ultimately higher valuations. Through analysis of customer behaviour and information, services can be refined immediately to deliver continually improving customer experience.
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Leading Digitalization: Nordic Happiness Pays Off

Digitalization, the use of technology to streamline work processes, accessinformation and improve global productivity can be considered the ‘next big paradigm shift’, impacting the way we all work, live and relate to one another. As with all change, this brings both benefits and challenges.
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The Age of the New Worker Model

How to Safely Navigate Legal Obstacles and Reach Your Goal of Flexibility and Scalability

Workers and businesses alike favour flexibility and independence. Work only when you want and how much you want; work hard and play hard. Businesses want to hire based on immediate need with coverage around the clock – scalability is key. The rise of the new worker model is hampered by dated laws that fail to recognize and adapt to the new model. Learn from the panellists how to achieve scalability and flexibility in the U.S. and abroad; when to hire independent contractors vs. employees; when, how to safely classify a worker as exempt; discuss recent industry examples and trends.

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Why Change? The New Reality of Work is Here

Imagine walking into the lobby of your local bank, saying hi to the teller you’ve become friendly with, and adjourning to a side room for a private one-on-one meeting with your personal financial advisor — all without leaving the comfort of your home, your office, or wherever you are in the world.

This may sound like science fiction. But in fact, it’s the New Reality. A prime example is KB Kookmin Bank in South Korea, which opened a virtual branch with an entrance, VIP lounge, and main hall where customers conduct and manage transactions, get help analyzing risk-return profiles and even design investment portfolios in the ‘Metaverse.’

But that’s just the beginning. Technology from AI to virtual reality, Web3, cryptography, and quantum computing are evolving rapidly based on decades of development and trillions of dollars invested in Silicon Valley and other tech centers globally. While AI adoption has accelerated through Generative AI, predictive and applied AI tools promise even more fundamental change in the business world, health care, education, finance, and more.

It will be a world where you can work seamlessly, creating new tools, services, and solutions to world problems from anywhere, with ‘one-click access’ to collaborate securely with global colleagues. This new reality fully balances remote flexibility, work, and life. You spend time doing what you love and what aligns with your passion and purpose. PLUS, you have real-time access to knowledge, personalized health care, and secure financial resources anytime, anywhere.

Under the radar, the development of Web 3 platforms, which provide the secure (digital ledger, i.e., cryptography-based) infrastructure needed to create an actual virtual reality or ‘metaverse,’ is growing exponentially. While the ‘metaverse’ as popularized by Facebook and others, has completed its journey through the hype cycle, the New Reality of work and life will integrate AI, virtual reality, Web 3, and many immersive applications into a new way of operating that can be referred to as a ‘metaverse.’

Based on the fast growth of AI since Nov 30, ’22, when ChatGPT was launched, Gartner’s prediction of one-fourth of the world’s population spending at least an hour in ‘the metaverse’ per day by 2026 is very realistic (and may even be conservative) and will become the New Reality.

What will New Metaverse Reality mean to me?

With appropriate guardrails and regulations, this New Reality is not something to be feared or resisted but an exciting opening too many opportunities for individuals and organizations. Overcoming fear of technology (like a lot in life) starts with understanding ‘what it is’ and ‘where it came from.’

Metaverse refers to an interconnected world of virtual spaces, i.e., an extension of reality. Through various tools, including virtual reality, AI (generative, predictive, and applied), immerse applications, and secure cryptographic validation, people can easily interact in real-time with one another, collaborate on projects, and complete business transactions using digital currencies or tokens.

The opportunities for people in the future of work and business are emerging. These include new technical career paths, such as virtual reality designers, AI scientists, and blockchain engineers. However, as this technology becomes increasingly important in our lives, the need for human skills – critical thinking, discernment, empathy, intuition, and customer service — will be equally important, opening more options for those with strong ‘human skills.’

Companies can use VR to prototype products and gain customer input. Digital twins will perform equipment maintenance; AI will execute repetitive and predictable tasks, and robotics will drive self-managed operations. This will allow people to be valued as leaders, innovators, and problem solvers. Their value and compensation will be based on the results achieved (using technology as a tool), not on the tasks or hours worked.

New Reality Impact on Business and Society

The impact of the advanced technology (Web 3, AI, VR) integrated within ‘the new reality’ will be felt across all industries. From retail and hospitality to manufacturing and logistics, operations will be revolutionized. In healthcare, doctors will use virtual reality technology to diagnose and treat patients remotely around the globe. Digital twins will allow testing and true personalization of medication (instead of today’s try it and see if it helps approach). At the same time, robotics with VR will empower doctors to operate from wherever they are. Already, AI is being used to identify new antibiotics to kill life-threatening viruses that would take decades to develop using traditional methods.

In the retail industry, virtual reality will allow immersive shopping experiences as AI matches ‘the right product’ with your personal profile. Major companies like Nike, Crate & Barrel, H&M, and Bloomingdales have taken some of the first steps to create Metaverse department stores.

Education will also be transformed from a set of lessons that students watch to a group of experiences that students live. The finance and banking industries will use AI and the Metaverse to evolve new ways to connect with customers, move money and assets, and improve back-office operations.

Today we see a fundamental shift in societal values, with more people working remotely and appreciating experiences over possessions. This will accelerate as technology allows increased flexibility, new career paths, and redefinition of ‘value’ and success, i.e., achievement of purpose, delivering value to the planet and society vs. financial gains.

How can leaders transform their organizations for success in the New Reality?

It starts with alignment of purpose, i.e., what are we trying to achieve, and what impact will we as an organization have on society? Then understand the market, client’s needs, concerns, and objectives for the future.

By collaborating with clients to co-create new solutions for today and tomorrow and then adapting business models based on real value delivered, business managers will prepare their organizations for continued success in a changing future.

Finally, since an organization will continue to consist of people (using technology to deliver on purpose), leaders must fully empower people to create, innovate and deliver real value – anytime, anywhere.

The future is here – today’s New Reality requires commitment, openness, and collaboration. Don’t wait – get started now.

Achieving Growth: Sales Channels and Partnerships

As many serial entrepreneurs know, revenue and customer attainment is the key to success for all companies. However, reaching and winning new customers is challenging – especially for young companies. Gaining awareness and developing trust with buyers can be costly and fraught with error.
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Are You Struggling to Get Noticed?

In this day of constant information flowing through every conceivablecommunication channel, it’s more difficult than ever to stand out in a crowd and really get noticed. The five steps below will provide a good start to helping you get in front of your intended audience:
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Avoiding the Greatest Mistakes in Hiring a Sales Leader

While there are many obstacles to growing a sustainable, successful company, the most impactful mistake often made by executives in organizations of all sizes, industries and locations, is in hiring the right sales leader. The following real-world case example (using a fictional name) illustrates the impact of many of the common practices in selecting and managing a new sales leader.
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Becoming a Good Networker

Networkers have a plan and are aware

Define specific goals for your networking activities – where are you going to your career and/or business and who do you want or need to build relationships with to achieve your goals? Then research and plan to participate actively in the groups, associations or meetings where you are most likely to meet your desired contacts. Who do you want to meet and build relationships with to facilitate achievement of your goals?
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Navigating Channel Partnerships

The race to the cloud is revolutionizing sales channels for product vendors, and now organizations and their channel partners must adapt to thrive in the changing marketplace.
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Value Sales: The Road to Better Sales

Sales success today is dependent upon the sales representative’s ability to align their message, approach and offering to the perceived value of the customer or prospect. Next Step’s “Value Sales” process proactively addresses the ‘so what’ or ‘why should I buy from you’ question in the prospect’s mind. “Value Sales” begins with researching, understanding and listening to the prospect’s critical business needs.
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Focus Areas for Employee Retention

Attracting the Best Talent is Not Enough

According to Next Step, there are three primary categories that managers need to pay careful attention to in order to achieve high retention rates. The categories are defined from an employee perspective, which includes being valued, supported, and engaged. When an employee feels that these categories are sufficiently met, then he/she will be both more effective and find more satisfaction in their jobs. Employees that are valued, supported and engaged stay at organizations longer.
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The Business Model & the Value Proposition

The business world abounds with terms so heavily used they now border on meaninglessness. Before, during and after the recent boom and bust of Internet-based and other high-tech companies, questions about the attractiveness of a company’s “value proposition” and the potency of its “business model” dominated the discussion of perceived winners and losers. Yet what was called a value proposition or business model during the recent frenzy – when just about any “me too” product or company could get funded – was nothing more substantive or thoroughly developed than the fanciful dreams of charismatic visionaries.
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Attracting and Recruiting Success Team in Hot Economy

Great companies are built from talented people working together for a common goal. In a strong economy with VC funded startups providing high levels of compensation and perks, competition for these great people can be fierce. However, it is possible using tips below:
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Improving Value through As a Service Model

The ability to work anywhere on any device has revolutionized all aspects of work. Employees, partners and customers expect instant access to tools and real-time data on their personal devices anywhere in the world at any time. This is only possible through cloud computing technology. Cloud technology enables organizations to provide innovative services in less time to more people at a lower cost. This facilitates growth and competitive advantage while streamlining infrastructure and introducing new revenue streams.
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Attracting and Recruiting Success Team in Hot Economy

Great companies are built from talented people working together for a common goal. In a strong economy with VC funded startups providing high levels of compensation and perks, competition for these great people can be fierce. However, it is possible using tips below:
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Building Organizational Capacity through Accountability

In today’s world, many leaders struggle to understand what accountability really means: is it simply holding people responsible for their defined obligations – or is it something more? Your understanding of accountability determines your response when a crisis strikes and a project is at risk. A leadership style and how one responds to problems can help build organizational capacity. While it is crucial to address problems quickly, it is also important to include your team members in the solution.
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Focus Areas for Employee Retention

Attracting the Best Talent is Not Enough

According to Next Step, there are three primary categories that managers need to pay careful attention to in order to achieve high retention rates. The categories are defined from an employee perspective, which includes being valued, supported, and engaged. When an employee feels that these categories are sufficiently met, then he/she will be both more effective and find more satisfaction in their jobs. Employees that are valued, supported and engaged stay at organizations longer.
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Gaining Productivity in a Multi-Generational Workforce

Since 2008, Next Step has provided consulting and advisory services to client companies with multi-generational workforces–managers and employees ranging in age from 19 to 92 enabling clients to achieve greater cohesion and productivity across the generations.
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General E-Mail Writing Guidelines

Practice Good Etiquette

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