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Einstein – Definition of Insanity
Madness in the signage and graphics industry
Albert Einstein once said “The definition of insanity is doing the same thing over and over and expecting different results”. Think about this quote for a second and ask yourself if this quote applies to how you run your business?
Have you done the same thing over and over expecting different results? If so, then you might want to keep reading. In a world where technology is becoming a key productivity tool for the success of any business, it is simply a question of whether you accept and exploit technology or reject it. Are you ready to change or will you do the same thing over and over again? J
Here are two main reasons why I ask this question. First, many store owners today find it difficult to understand how new technologies, especially software, can become a major benefit to their business, and second, owners find it difficult to measure the profits they are losing. rejecting this technological change. Have you ever rejected technology?
“If it ain’t broke, don’t fix it!” Mentality
Do you expect to increase your profits by pursuing the same business strategy year after year? If so, how long do you think the method will work?
Many traders simply don’t see the need to update or change their current method. They believe there is no need to invest in a new method when the old one still seems to be working fine. It’s the common, “If it ain’t broke then don’t fix it!” mentality. Well, I hate to be the one to say it, but just because something isn’t “broken” doesn’t mean you can’t make it work better. While new technologies, such as software, could save you a lot of time and money, how can you not embrace it?
In an industry where the level of competitiveness is increasingly high, store owners must take advantage of all available methods to help them reduce costs. Would a commercial printer looking to expand his business limit his shop to a single color press? Of course, they can continue to operate with a one-color press, but wouldn’t a two-color or four-color press help them expand their business into other areas more efficiently. In this example, the current method is working, but a technological change would increase the company’s ability to grow.
Exploring these other areas helps companies maintain and increase profits. Without embracing new technologies, store owners severely limit their profit potential. By using the power of technology to make their business practices more efficient, owners can continue to achieve their goals.
Are you sacrificing yourself?
Many of the store owners we speak with struggle to visualize the amount of money they are losing, or in reality, the amount of money they are giving away to competitors, due to inconsistencies in the process of workflow. These stores feel they are doing well with the system they currently have in place and see no need to switch to a new method. This lack of vision can cause owners to limit their future profits.
On the other side, owners who see a need for change begin to focus more on how much money it will cost to make the change rather than how much they lose. These owners become uncertain and wonder if today’s investment will pay off tomorrow. To these owners, how much will it cost you not to change? Do you even know? Is it one, three, maybe five jobs a day? Do the math. How much money/time is lost due to inefficiencies such as incorrect estimates, under/over-priced work or lost invoices.
Ask yourself how long can a company continue to be competitive if it is not as efficient as its competitors? If companies choose to stay with the same system they have used for years and reject change, are they, in essence, choosing to sacrifice future profits?
$100,000 per year
One particular company we spoke with was losing 4 orders per week to competitors. Because only one person in the store was able to come up with an estimate, it took days to get quotes for customers, forcing their customers to seek out and eventually accept offers from competing companies. When this company finally analyzed its method and applied a dollar amount to the loss, it estimated that it was losing about $100,000 in revenue per year. Incredible isn’t it? What would 4 orders per week cost you? Or if you could accept 4 more orders per week, what would you do with the extra profit? How does a company like this miss a $100,000 opportunity? In other words, madness, the definition of Einstein.
It’s not just about estimating
Businesses don’t just lose profits because of incorrect estimates; they also lose profits due to a lack of follow-up or customer management. When sending estimates to potential customers, how often do companies remember to contact them? With the constant chaos that traders experience on a daily basis, this tracking process can become a quickly forgotten aspect, especially if the current rating system does not include this integration.
How much can a company increase its “hit” rate for estimates by making follow-up calls to all customers with estimates in progress? Using powerful integrated estimating and business management software, like Cyrious, businesses are able to create reminders that will tell employees who to call, when to call, and why, automatically. It keeps all customer, contact, and order information in one place and increases the ability to save time and build customer relationships critical to business growth and expansion.
Adapt to change
By adapting to change, embracing and leveraging technology, merchants using Cyrious Software have become more efficient and profitable.
Cyrious helps owners resolve a variety of different frustrations. Whether you’re a homeowner frustrated with estimating because it’s taking too long or annoyed with orders getting lost and misplaced, Cyrious has a solution. Cyrious helps end the lack of integration by offering the power of multiple software systems in one (estimate, accounting, job tracking, customer management, etc.). No business is happy losing customers due to late quotes or losing money because parts are omitted from quotes and orders.
When owners understand the time and money a different method can save them, switching to powerful software like Cyrious is simple. Is it time for you to explore different methods to increase sales and profits and make your business more manageable?
For more information about Cyrious Software, visit http://www.cyrious.net, call 1-800-552-1418, or email firstname.lastname@example.org
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