Debt refers to the state of owing something, usually money, to another party in the future. Technical debt is when you "borrow" from your company's FUTURE PRODUCTIVITY by not making the proper investments TODAY. The justification is usually based on not having the actual financial capacity to invest in your business technology.
Delegating is a key driver for growth and scalability in your business. You can't do it all! Delegation does not remove responsibility though, so you still need some level of understanding. Many executives and business owners struggle with the right "level" of understanding in technology.
There is a time limit in sporting events is because there has to be a loser! Don't put a time limit on your business relationships, play the long game.
Three advantages of playing the long game with your business relationships:
Allows for investments in improving the overall relationship…this can often take time to realize a return
When relationship issues occur there is a much better chance of positive resolution and understanding
Long term relationships inspire commitment and stability for both parties
Playing the long game is the best way to manage your business relationships….if you don't see investment, understanding, and stability from your business partners it may be time to go and evaluate others.
The effectiveness of your business’s day-to-day operations is the best indicator of whether your customer relationship management (CRM) software is performing to expectations. CRM is revolutionizing the way businesses interact with customers, but are you integrating CRM into your business in the best possible way? Learn how you can transform your business with the following […]
Technology is NOT always the answer to your business needs or issues. In the video we discuss four common areas where technology is not the answer.
Lack of Training
Product or Service that is on the decline
Client retention is an important metric for any business, especially those with a high customer acquisition cost (CAC). The old saying it's always easier to keep a client you have than to go and find a new one is true! What if you could plan on not only keeping all your (profitable) Clients, but getting them to FURTHER commit to your partnership? Now we are talking about 110% retention!
How do you achieve 110% Client retention?
What happens to Client retention when you add real value to their bottom line? Not only do Clients stay, they INCREASE their commitment over time.
First, there is no technology platform that provides 100% uptime, period. Technology is too complex for that level of reliability. The car has been around for about 120 years and they crash every day, albeit with a better survival rate. This is similar to technology in general.
Do you run your technology like it's a plane, train, or automobile? All three will get your from point A to point B, but in very different ways. We can also apply this concept to how you run your technology. Let's assume you have decided where you want to go, now let's review how we are going to get there!
Trains are very efficient at moving large amounts of material over predefined routes.
Go ahead, reread the headline again, it's correct. We have reached the limit of technology making us more productive, and entered the era of "being busy". We are losing the fundamental ability to prioritize our work time, and now stay busy all the time; responding to emails, texts, and other REACTIVE tasks.
Would you build a power or water filtration plant for your business? The answer for 99% of us is no, that would make absolutely no sense. At the beginning of the Industrial Revolution many large factories DID build their own power plants. There was no distribution network or centralized power plant to connect it to.