Should the entrepreneur surf the news to improve his business?

The health crisis has taught us that we are not sure of anything and that we must follow the news in order to be able to adapt and adjust our strategy. For example, one should anticipate stock shortages and ask oneself how to do it, but also anticipate what has come up so far during disaster films and, above all, get rid of the idea that it only happens to others to be unlucky.

The news changes every minute and the company’s external environment at the same time. The entrepreneur is required to follow the news to be responsive to the various situations that may arise. In order for this information to be as fresh as possible, he must at all times pull it directly from the internet and social networks. What kind of information does the entrepreneur need in order for his activity to function smoothly and develop?

What good is it for an entrepreneur to follow the news?

A company is surrounded by many actors that justify its viability. It is shareholders, partners, institutions, suppliers, customers and even competitors. Following the news allows the entrepreneur to know all the information about these different actors and adapt his strategies accordingly. To enable his company to survive in a highly competitive environment where information plays a more than capital role, the manager must constantly follow the news.

How do you follow the news today?

There are several ways for the entrepreneur to follow the news. The easiest way is to read the newspapers, listen to the radio or watch television. However, the development of technologies gives him access to real-time information. Thanks to the Internet, he can get all kinds of information regardless of the field: economic, financial or directly related to his activity sector. Social networks like Facebook, Twitter, Google+, LinkedIn, Pinterest, Feedly, Pearltrees or Netvibes have become effective and essential monitoring tools for an entrepreneur.
Thanks to these increasingly varied and powerful tools, he will be able to follow the news according to filters that he will have corrected in advance.

Use the news to offer specific products

Depending on its area of ​​activity, a company may use the news to develop specific products or services. Thus, the increase in the price of a commodity can encourage a company to offer a replacement product to companies that need it. News can also be a source of inspiration for companies to develop a product or service that meets a specific need or meets the requirements of a given goal. This is the case for companies that offer the public Smartphone applications to rent a car, reserve a seat at a restaurant, etc.

Which sectors are dependent on the news?

In fact, every business has to surf the news to survive and grow, regardless of its sector of activity and its size. An SME as a multinational can never survive separately from the world around it. For example, if a tsunami ravages Japan, Japanese companies that manufacture cars may be forced to suspend their order of spare parts from Company X in Europe.
If you are a subcontractor to this company X, your orders will also drop. If you have this information in time, you can search, for example, with German manufacturers to keep the volume of activity in your workshops.

Use the news to create buzz and publicize your products

Finally, do not forget that news is a particularly interesting way to circulate information about your business. Launching a new product, opening an agency, listing or acquiring a new machine, you can make the news yourself to attract attention to your business and your products or services.

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