I recently had the opportunity to work with Duane Reed, the Founder at Inside Success Training and Consulting, Inc. and the President of CEO Focus. He asked a great question. While most businesses are looking at opportunities for growth, Duane asks "What's your business velocity?" A car stuck in first gear will eventually travel a great distance, but how fast does your car or, in this case, your business run normally without overheating (late nights, communication mishaps, deadline scrambles)?
After all, being at the right place at the right time is how you tap those new business opportunities, but you need the infrastructure to adjust course and travel there efficiently.
A lot of this has to do with good decision-making: isolating a few reasonable alternatives and being able to compare them in an objective, informed environment. Duane recommends developing an infrastructure to make good decisions, as businesses struggle more often, not because they make poor decisions, but because they fail to make decisions in the first place.
One excellent resource for businesses in this regard is Second Opinion, which offers a lot of unique decision-making resources. This innovative company has replaced the old model of decision-making in which leaders must rely on input from people too close to be objective, uninformed opinions or high-priced consultants.
Other ways Duane lists to increase your business velocity are deepening relationships with your existing clients, increasing your product offerings and cutting costs, but he says that decision-making is often the linchpin. If you can improve the infrastructure behind your decision-making, you can travel much faster, more reliably, just as if your car had gotten a brand new transition.
(Photo by Mattia Righetti on Unsplash)
rehash rote processes?
shotgun-blast questionable lists?
cajole visitors into completing forms?
await long turnaround times?
I've heard of Business Process Management (BPM), but this is BPR -- "Business Process Repetition," and it wastes a lot of money. By applying the power of marketing technology to help you deepen relationships through digital automation, you can stop repeating yourself. That's what automation is all about -- freeing up time, resources and payroll.
This is some what our panel spoke about at this week's Chamber Connect hosted by the Colorado Springs Chamber and EDC. One important takeaway to get people started immediately on automation is to document marketing channels and the software each uses by making a chart that lists the individual steps that humans and computers perform to move prospects through your sales funnel. After asking yourself which processes take the most time, perform searches in Google using the name of those processes and “automation.”
You’ll be surprised what comes up. Take a look at just the Search Engine Results Page (SERP) for any of the following: "campaign design automation," "sales funnel automation," "lead generation automation" "LinkedIn connection automation," "auto connection software," "Customer Intake automation," "customer service automation" or "appointment setting automation."
For every process you can automate, you reduce your workload and free up resources so that humans can spend more time doing what they do best -- building relationships with your customers and prospects.
Here are some automation solutions widely used now, with more coming every day:
Each of these helps you raise revenue while cutting costs. It's worth a running a few Google searches to get even a glimpse of what tools are already out there.
Tom McClintock is the owner and founder of Relationship Martech.