For centuries, the majority of the industries have been family owned, the owner was face-to-face with their customer, and most importantly they were local to each other.
Then, the industrial revolution happened, those family-owned businesses began to transform to corporations, the familiarity of the owner/client relationship began to disappear (morphing into representative/client) and most importantly, the local boundaries disappeared, businesses began to experience the global market.
These big corporations are now the behemoths of almost every market segment.
They may rule the big economy, but guess what... the mom & pop store, they are resilient, they are smart, and are the lifeblood of the regional economies.
But how can they survive and even compete against the behemoths?
When we think of an EXO business we think explicitly something that lives on the Internet that allows us to work with different solutions and leverage all the assets that and EXO business SCALE and IDEAS acronyms that we have and create solutions that go above and beyond what a normal business would do.
Brick-and-mortar businesses are uniquely equipped to be nimble and pivot easily. Even though they may have fewer cash reserves, they are the prime candidates for an ExO Transformation.
Let's imagine an automotive company, a dealership. They would be a great example of a standard business model. They are extremely tied to closing live sales (walk-ins), they would leverage paid marketing (on radio/tv/street) and the stock of cars would be only in their lot (standard inventory management).
How much time do you think the brick-and-mortar business still has if they don't implement some of the changes I mention? Believe me, it's not a question, we are in the midst of the 4th industrial revolution, and the time is now!.