How Business Technology Assessment Can Take Your Business to a Whole New Level Let’s face it; the role of technology in business is growing, and it will only continue to flourish in the future. Organizations can no longer devalue the importance of technology in realizing their goals and driving their ventures forward. But the thing with modern technology is that it moves and changes at such a rapid pace. Innovations pop out one after the other no matter the industry, and while that can be great for business, the critical question here is: do you know what technologies your competitors are using?
According to Harvard Business Review, “The goal of coaching is the goal of good management: To make the most of an organization’s valuable resources.” A Business Coach is focused on creating successful businesses, and helps owners of small and medium-sized businesses with their challenges, no matter what stage their business is at. It encompasses any area of business from marketing to hiring to operations management.
What is a tipping point and how does it apply to business growth? Malcolm Gladwell, in his book, “The Tipping Point: How Little Things Can Make a Big Difference,” describes the tipping point as “the moment of critical mass, the threshold, the boiling point.” Gladwell describes examples of this such as, “Ideas and products and messages and behaviors spread like viruses do.” In the same way, business growth stages can occur, wherein a business reaches a point at which it moves from one stage to the next – over the tipping point. As he goes on to describe, going over a tipping point requires extra effort than normal operating procedures. If you think about it like reaching boiling point, at 211 degrees, water is starting to show some activity, while at 212 – one extra degree, water goes from still to boiling. For example, your company might experience a tipping point when you hire additional staff to take on the work you expect to have at some point in the future. It is difficult because the amount of resources exceeds the amount of income or work while we push to increase productivity. Once over the “Tipping Point”, we will be back to a normal situation where the amount of work is equal to the number of resources and paying them properly.
How IT can benefit or harm business operations.
If you are an athlete, would you wear smooth bottom shoes or high heeled shoes when everyone else is wearing cleats?
If you golf, would you use a putter where everyone else is using a driver?
While none of these tools would make you less of a driver, less of an athlete or less of a golfer, having the right equipment enables you to compete better – if you use it properly! For example, the best cleats in the world will probably be no good if you don’t lace, tie or strap them properly.
Your company’s Information Technology is no different. Your IT is an enabler – it allows you to do more with less, but the wrong technology or improperly or underutilized technology can do more harm than good. For example: A company had a new installation of a CRM system – a software solution designed to help businesses track relationships with clients, customers and the marketplace.
The essential role of operations management in small business
As a small business owner, you recognize that there about a million things that you have to do every day, from the things that you have to do, the things that you would like to do and the fires that seem to present themselves at the most inopportune moment. It seems like managing one more thing is just going to put you into overload, or require that you take your eye off the ball.
When a business is in its early stages, typically the first few years, in terms of maximizing a return on investments – time, money, other resources – focusing on refining operations might be like a body builder that only focuses on his upper body…you end up building a top-heavy, inefficient business. (In the early stages of running a company, it is important to learn and be adaptable. Rigid operational policies will get in the way of that and make it more difficult to make changes.) This doesn’t mean that you will complete disregard operational management, but rather, your framework will be “squishy,” whereas a more mature business will have a more rigid framework in order to maintain the rigors of growth. Which is the point.
Taking an Operations Management approach to build your company and avoid substandard performance. It is amazing watching the athletes perform in the 2014 winter Olympics. These amazing athletes from all over the world do things that most people could never do. You may think, in the back of your mind, that these people must put in a great deal of training in order to develop their craft. Despite their amazing capabilities, even those that fail to medal have skills far beyond the average athlete; they are the best in the world. Through natural ability, training, great nutrition and health, they’ve earned an opportunity and the right to compete. If an athlete just focuses on skating or skiing, but doesn’t develop the mental ability to press through, they probably won’t be as successful as one who puts more emphasis on overcoming the mental challenges. One who eats right is probably going to be more successful than one who periodically cheats on their diet. One who is committed to increasing strength, agility and speed will probably be more successful than one who is simply a great athlete. You see, there isn’t a one dimensional way of making it to the top. It is a combination of training activities, diet, mental and physical strength and skill that elevates and athlete to the elite status.