We hear about disruption, we know what innovation means and we are exposed to the idea of cloud technology every day.
But what does is all mean for the average business?
To illustrate the concept, we can gather some insight from a small consulting firm in Canberra. We will refer to them as Highlight – obviously not their real name, but its close enough for the purposes of this story.
Highlight started with some great ideas that provided some real benefit to their customers. In fact they were very much a company that strove to disrupt the way their customers operated. They developed systems and products that changed the landscape within their sphere of influence.
Like many great innovators, they operated their business on a shoestring budget. When they became successful, they fell behind with their record-keeping and their compliance.
To hear them tell the story, they got busy. They were so busy they couldn’t find time to keep their reporting and other documentation up to date. That in turn meant they couldn’t invoice their customers in a timely fashion. They then couldn’t afford to employ someone to manage their business backroom. Money was in short supply. That caused pressures on the quality and quantity of work they could output.
A vicious circle and downward spiral ensued. They knew their skills didn’t extend to business management and record keeping.
The disrupters urgently needed to be disrupted.
Here’s what happened next.
Highlight moved into the BrainSpace shared office facility in Kingston. That immediately freed up some cash as they now only had to pay for the time they actually spent in the office. They were introduced to Kieran May from accross business who immediately looked at ways to streamline their back office functions. Kieran managed to quickly find some solutions that solved many of the problems they faced – and at a cost that surprised.
The result? A better understanding of their business, invoices issued immediately they can be, faster payments, a more professional image, less stress, more time for business development, happy workers, happy customers, happy boss.
There it is, the disrupters were disrupted and as a result they benefited. But what about you?
Short answer, “Who really knows?”
Do you employ or contract a bookkeeper? An administrator? A project manager? What are their qualifications and when was the last time they updated their skills?
If you do, and you haven’t reviewed they way they work, or the way they interact with you and each other, you may benefit from being disrupted. It isn’t about reinventing the wheel, rather it is about making sure that your money is spent wisely so that you get the results you deserve.
There is a better than average chance that some worthwhile improvement can be found.
And the really good news – it will cost you nothing to find out.