Uber is a phenomenon that has disrupted multiple industries all at once. Its practices have made it one of the most valuable and well-known companies in the world. Despite its success, it has suffered some setbacks, but any business owner can learn from those mistakes.
It’s important to be able to look into the workings of Uber and to apply those same principles and strategies to your own business. It doesn’t matter what industry you’re in because these same principles still apply.
We’re going to look at some of the things any business can learn from the successes and setbacks of Uber.
Always Be Upfront and Honest with Investors and Customers
Uber has faced multiple lawsuits after it was discovered attempting to avoid revealing a successful hack attack on customer details. When the information came to light both investors and customers were rightly upset that the company tried to hide it.
There’s a lesson in this for you. Don’t try to hide bad news from investors and customers. Yes, they may be mad, but it improves your brand because you’ll be known for both honesty and transparency.
Have Clear Guidelines for Contractors or Employees
Uber’s drivers have to jump through a lot of hoops to get approved to work with the company. These regulations have only grown stricter as Uber has grown and entered new markets. But they protect both drivers and Uber by defining the business relationship.
Whether hiring an employee or a contractor, you must have clear guidelines. This avoids confusion, misunderstandings, and offers a precise legal basis for the relationship.
Do What It Takes to Earn Trust and Mend Relationships
The philosophy of Uber has always been to charge into a new market and completely disrupt it. This is a company that has made a lot of enemies while achieving an incredible amount of success. But it recently joined the International Association of Public Transport in an attempt to mend some of the bridges it’s burned.
As a business, you’re always going to make enemies. You’re always going to make mistakes.
The key is to not keep going on as you are and to reach out. Those repaired relationships could just provide you with the breakthrough you need within your business.
Always Keep Planning for the Future
Self-driving cars are the future and sooner or later they’re going to take over. Uber has already anticipated this and they signed a deal with Volvo to sell them thousands of self-driving cars starting in 2019.
This is the sort of vision any successful company needs. They have to be able to look at things that have yet to even become a thing. When self-driving cars do appear Uber will be able to immediately take advantage of this revolution.
It does mean you must take a gamble, but when things like that pay off they really do pay off.
Last Word – Be Aggressive Yet Careful
The right combination of care and aggressiveness will help your business to succeed in your industry. The first thing you have to do is to make sure you have everything tied down, such as contracts with your employees.
Something else you must take into account is the need to push away from what everyone else is doing. You must dictate the fate of your business relationships. You must plan for the future and make the investment before anyone else is doing it.
Be an authority in your industry and make your mark just like Uber did. It could make your dreams come true!
Read more: On Uber and IT Infrastructure