You know your business better than anyone. You give everything you have in your facility day in and day out as your support your line, employees, and deliver an exceptional customer experience. You differentiate yourself by your customer service and the quality of your products/services. But, sometimes it feels like you’re treading water, just barely keeping things from falling apart.
This is not unusual, and actually, it’s all too common. How could someone from the outside even possibly have an impact or drive value into your organization with insights that you haven’t already thought of or implemented yourself?
Sometimes a fresh perspective is enough to tip the scales in your favor.
When’s the last time you assessed every single process that occurs in your business, from sales generating an accurate and professional estimate, to where and how the shipping labels are being printed, and even how inventory is being tracked? How much waste is there in the process? If you eliminated some of this waste, how would it impact your profitability?
Think about your exit strategy. If you were to walk away tomorrow, what would happen to your business? Would it continue to thrive, or would it wither and die without your specific knowledge and expertise? How valuable is your business without you? Do you want to pass it down to your next of kin, or sell your company so you can reap the rewards of all your hard work?
The good news is, there’s no shortage of resources out there at your disposal. Seeking out a partner that knows your industry, and has a deep understanding of the types of processes you use every day, is not very difficult. The key is finding the right partner.
Here are some questions to ask
What are their capabilities?
They may be experts in software, but when it comes to business knowledge, general IT or infrastructure they may come up short, or they may have general IT and infrastructure expertise, but may not know how to implement a practical cybersecurity practice to protect your business
Are they vendor neutral?
Some partners are specifically authorized to sell only a specific ERP/Software package, and that’s their core expertise. They are motivated by the margins earned in reselling a specific software. This could be a very good thing if you know exactly the software you need, but could be disastrous if you implement the wrong system because that’s all the partner knew and they get paid on the back end of the deal. Their job was to sell you on their solution, not necessarily the right solution for you.
What’s their process like for you helping you?
You need to be willing to let the right partner do their thing. If you give them “orders” and they just run with them without asking you questions, or even challenging your perception, then are they really doing what’s in your best interest or are they doing what’s in their best interest? If they’re implementing your “orders” then who’s really going to be accountable at the end of the engagement, you or them?
Don’t be afraid to admit you may need some help
It can provide the relief you need to take a step back from your business, without putting it at risk. It could increase profitability and efficiency, and even morale across the organization.
Maybe instead of 3x valuation, you could see 5x+, because you implemented the right processes and systems.
Contact me today with questions or call me at 585.292.5070 x217