Cloud-computing technology has revolutionized numerous businesses, delivering value more competently. Cloud-based businesses have started to take over a lot of different business models.
It has basically eliminated the idea of a brick and mortar business, where 90% to 100% of the businesses are done online or in the cloud. It’s starting to chip away at different types of institutions. Whether the trade you’re in is directly affected by it or not, soon cloud-based businesses may be what the future looks like.
Take a good look at what happened to Blockbuster and Netflix. One continued with the physical distribution of movies and other entertainment media, while the other offered an online service all in one place. This is beginning to happen in the real estate business.
Cloud-Based Business in Real Estate
Real estate seems to be the last business it’s going to affect but some are gradually moving forward with this model.
The standard model that has been around is the franchise-type model. Some companies are reliant on the infrastructure of having an office. There are different agents in one office, and you pay a monthly fee to not only be a part of said franchise and its tools, but also for the infrastructure and office space. This was how businesses have been growing since the ‘90s.
Then came the cloud-based brokerages. They eliminate all the physical infrastructure of having a franchise, and have it all done on the cloud. These real estate companies still uphold the same business but without the need of a physical office space.
Whether or not having almost everything on the cloud is beneficial, the market is currently experiencing great results to say. However, it can be a huge disruptor in the real estate space.
Disruptor in your Business
Historically, there have been disruptors every time the market in an industry is great. The real test to see if a company is going to be around is when the market has a heart attack, and the weak companies usually get wiped out completely.
The benefit of having a cloud-based business moving forward is conquering times when the industry goes south. In the real estate space,for example, interest rates going up and seeing a decrease in values of houses, having a cloud is advantageous.
You don’t have to carry overhead like brick and mortar locations and offices. Having an online space trumps having a physical one overtime, in due time.
The one thing to consider when having a cloud-based business is its vulnerabilities. One of the major things would be security. No breach or hack has happened, yet it is best to prepare for a worst case scenario. Cyber security is important for any business, no matter the field.
Without proper security in place, hundreds of millions of dollars-worth of transactions, people’s credit, and more, is at risk. However, protection comes with almost all territories now. Everything you do online has to be protected.
The Wave of the Future
Regardless of your business type or product niche, the cloud’ is coming for you (if it hasn’t already) and it’s going to affect your business and your industry in a major way. There are two directions where this can go: you can move towards that model or you’re going to ignore it and suffer the same fate Blockbuster did.
Challenge yourself. If your business model has not been affected yet, be an innovator and think in that direction. How can it affect you? Consider this and be ahead of the curve.
There is a lot of opportunity for industries out there that are not as technologically heavy or technologically advanced. If you’re a disruptor and you’re thinking about this, it would be a good way to come in and become a technology lead in your field.