Technology will be a key factor in your growth and rise above the noise.
Rise above the noise in the market and make it happen.
Coming to grips with the basics will enable you to better focus on the fun part of business, make it more relevant and in turn making the business grow more profitably and sustainably. I think too many people today start off and don’t take the time to learn the basics.
Big Data is overwhelming you, your technology is not coping, staff want a more mobility, customers are leaving and the owners are demanding more detailed reporting. Your years of experience are no longer enough to help you cope with the pressures.
You are living in a time where constant change is taking its toll on the unprepared enterprise. Your marketing operational capability needs to become more highly geared in order to the market demands.
Having the right plans, people and production capacity are essential to meeting the increasing demand. But if your marketing operations aren’t efficient and scalable, it won’t function well. Your whole business becomes sluggish and weak, as it struggles to produce new leads and nurture prospects while trying to service your existing customers. You suddenly become aware that you can’t adapt quickly enough and you have to make unscheduled changes across the business.
The thing is to stay calm, this is not a time to panic. You can start automating core business functions that will certainly help. But the urgency lifts the administrative burden that weighs marketing down, but automation alone can’t make you more efficient or effective overnight.
In order to rebuild your marketing capacity, you must stay on top of your marketing, management and d administration operations. This means refining your information flows, production, processes, technology, logistics and metrics while sourcing additional working capital for stock and debtors.
All this will require some heavy lifting beyond the businesses current knowledge, experience and financial resources. For starters, you’ll need to engage some practical advisors. Only then you’ll be in a position to make steady, progress in solving all the issues.
“Always remember that technology can never replace the truly personal touch that only a human can deliver”. Peter Sergeant
Once you have the growth issue addressed, it’s time to settle down and do some serious planning. After all, you don’t want to be caught out again.
How do you get out from underneath this avalanche and stay on top of it? Start by addressing the following:
- Revisit your business model and make any necessary adjustments.
- Reset your objectives and upgrade the business plan and budgets.
- Upgrade your value chain.
- Identify financial resources required.
- Identify new warehousing and logistics required.
- Identify any new technology that will be required into the future.
- Rework roles and responsibilities and recruit new staff.
- What will be needed to upgrade your knowledge base and deal with Big Data?
- What new metrics will need to be put in place?
- Rework reporting reports and procedures.?
- What dashboards do stakeholders need to make decisions going forward?
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One of the hardest messages to get across to many small businesses is the need to bet their operations up to speed and under control. I know that is easier said than done as there is a lot of work involved even for a small enterprise.
The concept of achieving peak performance, that will change a businesses growth trajectory and align it with their vision is hard for many as they grapple with the realities of the day to day issues that emerge when a business has a growth spurt.
To me getting a business up to speed is like getting a power boat up to speed. Once you get the boat up on the plane everything becomes easier.
Whatever your business sector, and whether it be products or services, finding those who are willing to go that extra distance when it counts is an important key to ensuring success. Preparing for high growth is one of the basics that so many businesses get wrong but is so easy to get right.