Tech Redefining Success

Our economy is shifting: we're going digital. The new technology is directly impacting the idea of the traditional workplace, from spaces to staffing. 

Recently, the Chicago Business Journal published an article titled how technological advancements translate to entrepreneurial success.

The article reads: 

No matter what industry a company operates in, the modern workplace and office environment is rapidly changing how we do business. Thanks to social media and technology, the corporate world is now entirely different compared to what the standard office job traditionally resembled. 

 With the digital shift, small businesses and entrepreneurs have an opportunity to define the new standards of the workplace and traditional ideas of success. For example, rather than searching for an office space complete with boring cubicles and corner offices, business owners now have a new option to get their business up and running: shared co-working spaces

Shared co-working spaces present the opportunity to cut costs and save money while working to get a business off the ground. The days of associating success with having your company built around huge headquarters are essentially over. 

This new type of office is just one of the ways companies are diverging from the traditional workplace. Startups especially are known to have gyms, on-site yoga, walking meetings, and other modifications that better support their modern company.

In addition to non-traditional workspaces, more companies are also supporting non-traditional staff. New technologies have allowed more employees to work remotely than ever before. Digital workspaces like Amazon Workspaces, Skype, and Slack allow employees to contribute, brainstorm, and participate in live time. No matter where the employee is physically, they are able to directly impact the company's growth. 

With the increase in remote employees comes an increase in freelance workers. While working full-time remotely is now possible, it is still not ideal for many companies. Therefore, freelance developers or engineers are often hired for specific projects they can work on during the hours they choose, from their homes. The article cites a study that estimates that 40% of the American workforce will be freelance workers by the year 2020. It's a great way to cut costs yet continue expanding without the overhead of a full-time employee. 

Overall, the article discusses what we are already aware of: technology changes ideas. The idea of what a successful business looks like and how it is structured is no longer relevant. Technology has given startups and small businesses a chance to grow and gain a competitive edge in the new and quickly emerging digital economy.  

Read the full article from the Chicago Business Journal here.