Artificial Intelligence (AI) seems to be everywhere these days. Literally every week there is another new tool or headline about automation and how it’s changing the way everyone does business. It is easy to wonder if you might be falling behind if you aren’t adopting all these new AI tools.
The truth is you don’t have to adopt every new piece of technology to run a great company. In fact, leaning into the things only humans can do like building relationships, creating trust, and going the extra mile, might be the very thing that sets you apart in a world that’s getting more automated by the day.
As business brokers, we see this every day. The deals that actually make it across the finish line aren’t just about numbers and spreadsheets. They come together because of people (buyers, sellers, and advisors) working together through complex, emotional, and very human decisions. Much like running your own business.
Relationships Still Drive Success
Sure, a chatbot can answer questions quickly. But can it look a customer in the eye, listen to their concerns, hear the stress in their voice, and build trust? No, it can’t. When your employees put in the effort to really listen and get to know your customers, it creates loyalty that no piece of software can replace. The same is true when we help sell a business. Owners don’t usually choose a buyer just because they offer the highest price; they want to know their team and customers will be cared for. They want to feel that their legacy will continue and be preserved by the next generation. That decision is built on trust, the kind of trust that only develops through conversations, not algorithms.
Judgment Beats Algorithms
It’s true that AI is good at spotting patterns, but business rarely fits neatly into patterns. Should you take on that difficult client? Offer flexible terms to keep a long-time customer? Hire someone young and hungry you can mentor or go with the more experienced candidate? Decisions like these require judgment, experience, and context. You have to weigh the numbers and the human factors in these situations.
Personal Connection Sets You Apart
Here’s where we think the real opportunity lies: As more businesses lean on automation, businesses that provide genuine human connection will stand out. We’ve all been on the receiving end of dealing with an automated call system and, more often than not, it’s frustrating when all you want to do is talk to a person. Customers notice when they’re treated like people instead of number. In a sea of competition, the companies that stand out are the ones that show up and build relationships with their customers.
Being Human is a Competitive Advantage
None of this means you have to ignore automation. Things like online scheduling, reminders, or other software can be a big help, but those tools shouldn’t replace what people do best. Relationships, judgment, culture, and connection are not something you get from a machine. We believe the businesses that will thrive in the future will be the ones that utilize AI appropriately and double down on being human in all other areas.
At Murphy Business, our objective is to help you navigate the complicated process of valuing, buying or selling a business so that you get to the closing table successfully. If that appeals to you, please call us at 573-335-1885. We would love to learn more about your business and goals.
