We have all heard the saying “Buy Low and Sell High”. I relate it to success when I think of investments. Success made me think about other ways to view “Buy Low and Sell High”.
What if you bought your internal company data low and sold it high? What if you “Unlocked Your Business Data Everyday All Day”, meaning everything you performed operationally or administratively was available to study and assess for insights to make your business sustainable and perform in ways that produced competitive advantages.
Would that not be buying low and selling high?
Small and medium sized businesses have never been able to UNLOCK their internal data because it was so costly in time, money, energy, and lost opportunities. They were missing out on the possibilities of valuable insights. It just wasn’t worth the costs and return on investment.
Statistics show alarming rates of failure, (According to the Bureau of Labor Statistics, about 20 percent of small businesses fail in their first year, about 50 percent in their fifth year). Having been in business for 35 plus years I know the importance of strategic planning and collecting data on my enterprise because it would help me assess what is truly happening. For years we have made assumptions through our accounting software, namely, QuickBooks for small businesses. Small businesses did not have the financial power, knowledge, or resources to collect their own data that can assist them to compete against competitive pressures in the marketplace. Large businesses have leveraged technology and their financial power to produce competitive advantages. No wonder we have so many unsuccessful enterprises launched into the marketplace.
There is no guarantee that UNLOCKED data and strategic planning will make a business win but without strategic planning you have a high likelihood to be a part of the Bureau of Labor Statistics noted above.
RRS provides solutions for Small and Medium sized businesses to collect their internal data at very low costs, in fact we have technology solutions that allow you to produce competitive advantages just like the large competitors do like (Google, Facebook, Amazon) every day all day. If you look at today’s rapid changing, complex, and highly competitive marketplace small businesses are at an even bigger disadvantage than ever before.
One last note on technology in the marketplace since there are over 600,000 business applications and software for you to sort through and make a decision that hopefully works out for your small business, I have a few suggestions.
Be careful of technology offers that only produce single purpose outcomes for your small business. I did this for years and suffered accordingly. Computers are designed so humans can produce multiple outcomes with less resources. We work with 22 business concerns so a technology solution focused in one area would not produce the competitive advantages you need to be sustainable or execute your business mission as a unified whole.
Due to rapid change in today’s marketplace, you need a technology solution that is flexible and not rigid. I see so many business owners design their administrative and operational practices to a software’s structure where if you think about it, you design those practices for marginal utility to create competitive advantages. Right? Would it not be more powerful for the technology solution to adapt to your practices and help produce the outcomes and not vice versa. Don’t pick software structured to produce internal limitations.
Make sure your solutions are mobile- meaning access is granted from smart phones, tablets, and computers by using the internet to your entire organization. Superior communication and coordinating all thoughts and actions produce powerful competitive pressures. Stay in your small business lane of being fast, flexible, and coordinated with your software selection. Enhance what advantages you have being small until you are not small. When that happens, adapt your software and practices to your new structure. Just make sure your software has those capabilities.
RRS produces a custom technology solution quickly and efficiently for each client by working closely with ownership, management, and employee needs, with a SaaS platform, while executing a fundamental business strategy every day all day that produces high returns while the enterprise experiences low total costs for our solution.
We are available to answer your questions at no charge to help you find the right technology solution for your small business.
“Buy Low-Improve-Sell High”