Sorman-Nilsson recommends continuing on with analogue activities which are reaping rewards.
“Don’t throw the baby out with the bathwater,” he says.
In the increasingly digitised future Sorman-Nilsson says there is still room for tradition because it speaks to “our analogue hearts”.
For Georg Sorman this means retaining its VIP nights, tailoring and alteration services and making the most of the store’s history.
Look at the waves of change as opportunities rather than disruptions Sorman-Nilsson says.
Ask yourself what touchpoints can be digitised and which ones can never be digitised.
At Georg Sorman this meant starting a blog to drive traffic and optimise search engine results along with making videos to capitalise on the popularity of YouTube as the world’s second largest search engine.
“Position (or re-position) your business to ride the waves of change,” Sorman-Nilsson says.
He advises working out which of your core capabilities are in tune with the waves of change, and figuring out how to communicate those in an engaging way to the market.
“If you need to repackage aspects of your story or evolve your business model this repackaging needs to form part of your re-positioning strategy,” Sorman-Nilsson says.
“Adaptation is the only way to withstand the test of time”.
Anders Sorman-Nilsson is speaking at the free SmartCompany and Officeworks Growing Your Business seminar in Melbourne on 7 August. Other speakers include Dionne Kasian-Lew, Mike Sewell and Josh Kennedy.
Cara Waters is the editor of SmartCompany. Cara was previously a senior reporter at the Financial Times website FT Adviser in London and has also worked for The Sunday Times.
