It’s Startup Time in America

It’s Startup Time in America
Use Empathetic Design to Provide Value to Customers
Automation Software Universal Best Practices
Flu Endangers U.S. Economy, Businesses

Posted: 15 Jan 2013 11:00 AM PST

As the economy continues to drag along, one might think that starting a business right now is not the best of ideas. However, the opposite is true! One scenario that exists which makes now a great time to start a new business is the fact that there is less competition because many people are simply focused on surviving, not thriving. There is also a head start on gains once the economy turns around as well as lower office space prices and wages.

The following infographic by ProfitBricks provides some very interesting data on why it's start-up time in America.

[Click image for full size version]

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Use Empathetic Design to Provide Value to Customers

Posted: 15 Jan 2013 08:00 AM PST

provide value to customers Tonight I was watching 60 Minutes and saw a story about a company called Ideo. They use 'design thinking' to solve problems and create products. According to the CEO, David Kelley, they study human behavior to identify where they can improve upon a product. He calls it empathetic design.

The other interesting part is that he gathers people from diverse industries and backgrounds, puts them in a room, and has them bring their own viewpoints to problem solving.

While it was a fascinating segment it got me thinking. How well do we use empathy in our businesses? When it comes to the products we offer and the services we provide do we look at things from the client's point of view? Do we take time to look for ways we might be able to make it easier or better for them?

I was talking with a business owner the other day about a new service they are offering. When I asked what the value of the service was, he told me the value to his company. It never crossed his mind to think about the value it brings to the client. I realized that this kind of thinking happens all the time. After all, when we try to innovate, to create products and services to sell, we think about them in terms of how they will help us be profitable. And yes, we think about them as salable.

I’m only saying that often times our thoughts are more on our company than on our client’s.

I submit that while it is critical that we make sure we are making good business decisions, we would be better off thinking first about how our products and services benefit others. When we provide value and help others solve problems we will find that we are realizing our goals. It may take a new or different way of thinking:

1. List your products/services in one column and then list the value to the client in the next column.

2. Think about ways you could enhance that value. What would it take to offer even a little bit more? And what would you gain by doing so?

3. Consider how you work with your clients and how you could improve that:

How often do you meet with them?
How much do you know about what they are experiencing? What they need?
How involved are you in helping them problem solve?

Bring in other people to design think. Don’t limit yourself to people in your industry or people who use your product or service. As Ideo can teach us, the more diverse the more interesting the solutions.

This simple exercise conducted even twice a year can bring big results for you and your bottom line. When you can empathize with your clients you can find new solutions you hadn't thought about before. When you work with them on this level, you deepen your value to your current clients. Their loyalty increases. Not only are they more likely to keep you around, but they are more likely to refer you to others.

Give it a whirl and see how it works for you. I've already started my list.

Diverse Business Meeting Photo via Shutterstock

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Automation Software Universal Best Practices

Posted: 15 Jan 2013 05:00 AM PST

software best practices Small businesses owners are often barraged by automation software systems that promise to streamline an important business process. These systems can hold significant appeal, promising to reduce both costs and manpower requirements while still getting necessary work done.

However, these systems usually claim to be "set it and forget it" type of deals. This can be misleading and can result in unrealistic expectations, as well as flawed implementation strategies.

Fortunately, it is possible to derive a great deal of value from automation systems as long as you understand both their advantages and their limitations.

It's important to understand which processes can be reliably automated within your company. These can include payroll, billing, cost accounting, IT infrastructure monitoring, internet related marketing, prospect and customer engagement management, competitive intelligence monitoring and many others. The trick is to determine which processes, if automated, will provide the most value for your company in particular.

One method to determine this value involves carefully tracking employee time to determine if employees are spending large amounts of time on processes that can be easily automated. In cases such as these, implementing an automated system often provides a high return on investment by decreasing time spent on tedious activities while freeing employees to work on other tasks.

Selecting and implementing specific software to meet automation requirements is too broad a topic to cover completely here (that's where the consultants make their money).

That being said, once you have determined which processes within your business that can be successfully automated, there are a few automation software universal best practices to remember:

Integration Functionality

Make sure that integration functionality is present within the system you choose. Modern business programs should communicate with each other so that you can collect, retrieve and manipulate data however you see fit.

If a program uses a lot of proprietary protocols, then look elsewhere for software that will play nice with others.

Longevity

Another key factor to consider when choosing automation programs is longevity. Niche programs that are new and relatively unproven in a business setting are risky because they may not last long. Therefore, even if the program works as advertised, you could get stuck when an update is needed and the business has gone under.

When it comes to automating key business processes, it is wise to select from high-quality programs that have withstood the test of time. Small businesses often look to Quickbooks, ADP and even Microsoft Dynamics GP to provide the foundation for automation infrastructure. Though these do not fit everyone's needs perfectly, each deserves a careful look.

Monitor and Update

Finally, keep in mind that even the most advanced automation systems cannot be left to run without regular monitoring and updates. In general, programs should be checked daily to ensure proper functioning so that any issues can be corrected quickly.

If the software program you choose offers a maintenance contract, you'd be wise to invest in it. Automation systems should be reevaluated or updated at least twice a year. Sometimes, a maintenance contract will include automatic software updates, which is a very valuable benefit.

Software changes quickly, necessitating regular maintenance to guarantee a smooth integration with your daily processes. If you discover software is lagging or causing problems even after it's updated, then you should definitely consider looking for a replacement. The inconvenience of implementing a new automation program is often mitigated by the increased functionality it affords.

Automation programs can significantly impact your company's bottom line, but it is important not to get overoptimistic. Your car doesn't drive you to work and your stove doesn't cook food on its own. Only people can run a business. When software is left to run amok, bad things happen.

Focus on creating a solid implementation and maintenance strategy and you can streamline your processes while increasing your profits.

Easy Way, Hard Way Photo via Shutterstock

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Flu Endangers U.S. Economy, Businesses

Posted: 15 Jan 2013 02:30 AM PST

There are so many things that can take down your business from an operational standpoint. From workplace illness to employment and management issues, the dangers are many. Today’s roundup looks at the threats and at some of the possible solutions too. If we’ve missed out on any of the big ones, feel free to add them in the comment section below.

Cure Your Business

Sick and tired. A flu outbreak reported in the U.S. and leading to increased interest in the “flu shot” to ward off the ailment, may threaten more than just the health of its victims. Experts and business leaders say the outbreak can threaten business operations and more broadly, the economy. The flu can deprive companies large and small of needed workers critical for operations. NBC News

The best medicine. To combat the dangers the flu outbreak poses to your business, it’s important to develop strategies that allow you to adapt, explains Stephen Morris, online media coordinator for the U.S. Small Business Administration. Here are seven steps you can take immediately to lessen the danger to your day to day operations. It’s a bitter pill, but experts consider these steps the best medicine to keep your business healthy. SBA.gov

Build a Healthier Company

Chart your success. Taking the time to chart the organization of your company may seem like an unnecessary activity compared to other tasks, but these charts can help in many ways, writes business adviser Ian Smith. You can use them to better understand the leadership dynamic in your company and help you break down goals into delegated assignments for members of your team or different departments. The Smith Report

Don’t get personal. Hiring for your business is always a challenge, says blogger Ben Hargrove. Choose the people who will strengthen your business and your team. Avoid hiring decisions based on personal factors like friendship. This doesn’t mean refusing to interview friends for positions in your business. It does, however, require making clear distinctions between professional and personal considerations. Business2Community

Fire when ready. Sometimes you come to a point when making your company healthier means letting someone go. Deciding it’s time to fire an employee is never easy, writes business adviser Brad Farris. So it’s critical you make sure your decision is the right one. Here are some questions you should ask yourself when trying to decide whether it’s time to show that troublesome employee the door. Anchor Advisors

Take control. Business meetings can be a helpful exercise for achieving your company goals or an agonizing waste of time for everyone involved. Learn to effectively plan and chair meetings with these tips from training consultant Kim Larkins. Simple tips for establishing desired outcomes, creating defined agendas, and assigning roles and responsibilities ahead of time will help you improve your meetings and increase their benefits. KSL Training

Be the best. Another general approach for improving your company involves encouraging your employees to be at their best. This post looks at some deceptively simple tips to improve the overall performance of your staff. Suggestions range from better listening to encouraging goal setting. Managers or business owners are also advised to be positive while avoiding glossing over reality. Start making these improvements today. CorpNet

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