REINVENTING YOUR PRINT BUSINESS

As new changes are impacting the way print business is done, it is important that players in print business begin to identify ways of dealing with these changes and driving growth, profit and future prosperity.

Change we all know is the only thing in the world that is constant, meaning in other words ,  there will always be change, knowing  this  is true, every company must therefore   anticipate change .prepare for change and respond to change. And to be able to adequately manage this change process a company must constantly be ready to reinvent itself to remain in business.

Print business is obviously undergoing major changes due to many factors, today there is more demand for shorter print runs, faster turnaround time, on demand print .personalisation, higher print quality, decreasing print volumes etc than before. And for any print company to remain or maintain a thriving business it must reinvent itself in response to these changes. To be able to do that company must recognize these changes and come out with ways of dealing with them.

Lets us look at some changes that currently determining the way print business should be done profitably.

`1. Change in Technology –Print business is driven by technology and change in technology has great impact in the way print business is done. We are in the electronic age and we have seen more changes in technology that ever before. In the last couple of years we have seen the effect of change in technology on the various stages of print production For example we have seen change in technology affecting the   way print plates are made. A commercial printer who wants to meet the demand of his customer must acquire the new machines with this new technology.

  1. Change in Customer expectation: the success of every business is largely dependent on how much such a company is able to meet the expectation of its customer. Today’s customer are more innovative and driven by social media, internet etc. Ability to know and meet the needs of its customer will differentiate a company from other companies thereby making your company relevant and profitable. In print business customers need has changed dramatically over the years, there is more demand for more colorful and personalized print jobs within a short space of time. So a print company must be more customer focus in its product offering to thrive in print business
  2. Change in competition: Changes in the competitive business environment is to define how business is done in any industry. Studies have shown that most companies are now more innovative than ever before, It is therefore imperative that a company does not ignore its competitors and what they are capable of doing to affect your market. There are also potential new entrants into the same business you are doing, who will become your competitor. Looking at print business in the last couple of years, it has become easier to get into the business of printing than ever before. Printing machines are now easy to operate and require few processes. So a print business must keep reinventing itself to stay ahead of potential competitors.

Steps to Reinventing your Print  business

  1. Know the right time to reinvent –There is time to reinvent your print business, it must be done in quick response to changes that occur in y our business environment. Do not procrastinate; procrastination is the thief of time. Many businesses have gone extinct or remain stagnant because they did not respond to change at the right time. Everyone in print business must know that there is a gradual shift from the traditional and conventional offset printing to digital printing, the volumes of print is decreasing fast, the time is now to invest more in Digital printing machines than the conventional offset machines.
  2. Be ready to innovate –Reinvent by innovating –how to produce product and services that are easier, better and cheaper. To do this you need to identify new solutions to help you achieve this. There are new machines and technology to achieve this, acquire and deplore them in your production process. For example it is obviously cheaper, faster and easier to use computer to plate machines to produce printing plates.
  3. Use new market channel—No matter how good your products and services are, the channel you deplore to ensure that your products and services are available to your customers will determine the growth and profitability of your company. In this time where customers have become more sophisticated it is important that will adopt better marketing channels to reach them with our products and services. New marketing channels like mobile, social media etc are now faster and easier channels of reaching your market. Print companies must utilize these channels in sourcing for print jobs, creating awareness for their business and offer their services.

CONCLUSION: The dynamic nature of business environment will make any business to run out of opportunity to grow and remain profitable. In the life cycle of every business, it will get to a stage that except something is done, it can suffer a decline and even go into extinct. The only way to keep a business going is to constantly keep abreast with changes in your business environment and reinvent your business in line with them. In the last couple of years many print business have suffered decline or complete collapse because they refused to respond to change. The time is now for every print business to look for ways to reinvent itself with current changes and remain in business.

 

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