Digitising your business
Digitisation is converting information into a digital format – but why is it important?
Listen to the show here. But why is digitisation important for small business?
- Survival – you have to remain relevant. A good example is the Yellow Pages – Google has made them completely irrelevant.
- Scale – it enables you to grow with managed cost and managed chaos
- People – do higher order work to attract the right culture and talent
Practically, the process involves 5 steps
Go back to the basics
- Decide what your business is all about.
- Decide why you do what you do.
- Decide who your customers are.
- Define the experience that they want to have problems solved and would on that basis want you
- Build your business systems to deliver that experience
- Do it manually
- Involve your team and customers
- Let them see it
- Let them be part of it
- Let them own it
Identify the 1st digitisation work
- Start with the worst work (the horrible admin that everyone hates)
- Wins over employees
- The cheapest piece to digitise
- Builds experience and confidence
- Wins over finance and weakens the “nay-sayers”
Enforce the System
- Ensure the system is part of performance management and staff are suitably incentivised.
- Regardless of performance, non-compliance of the system needs to result in discipline or no commission.
- KPI’s should be linked to the system
Tags: The Money Show