If media reports are to be believed, Canadians look to be a particularly unhappy lot right now. The recent bout of inflation and interest rate rises appear to have precipitated a specific phase of economic suffering that has spilled over into personal lives, and that misery appears to be uniform across demographic and socioeconomic categories. According to one survey, financial troubles, inflation, and high interest rates are having an impact on Canadians' mental health, driving concern about housing and food. Millennials, particularly those who own a home, appear to be the most vulnerable to economic downturns as interest rates rise on tight debt burdens and economic damage wreaks havoc on the economy and expectations. Burdened by debt and rising housing expenses, three-in-ten Canadians are "struggling" to make ends meet, with mortgage holders reporting trouble meeting housing bills up 11% from last June. If you have a place to live, you struggle to pay your bills, and
What stops small business owners from spending 95% of their time on business development? Other small business owners have told me that it's because they can't change how they lead.To give you an example, most leaders don't know how to move from directly managing people to letting them handle themselves by setting clear roles, responsibilities, rules, and business processes. To make this change, the leader needs to be able to let go of the control-hunger and attention-to-detail habits that made him great in the first place. CEOs used to spend only 5% of their time on operations (which isn't much) but now they spend 80–90%.
This happens when the company goes from a few people to 20–25 people
He slowly loses the time and energy he needs to grow the business because of this change. Right now he's on a hot stage (the stove) and wants to hire people to help him, set up ERP systems, and other things. The problem is that it's often too late now. The way things are done is based on him making choices on the spot. It is now much riskier, more expensive, and takes a lot more time and work to try to set clear jobs, policies, business processes, and ERP systems. The choice keeps getting put off because there is always something more important to do. This makes the risks and work increase.More often than not, it is easier to stay away from business models that end in "frog in the pot." People who hire a consulting firm often buy the skills of individual experts. It's hard to set up the jobs, services, and procedures that will help the partners grow the business because of this. They can't sell the business after becoming one with it. Software companies that offer a single, uniform service on the web, on the other hand, will find it easier to set up their business and make it process-driven.A small software company I know has 30 employees, and the CEO spends 95% of his time growing the business. He makes deals with other businesses, comes up with new services, and leads the way into new markets. He even took his family on a three-month drive across the US last year! His business runs itself. He began adding systems when they were not even half as big as they are now.
At that point the job was still doable and he finished it
Not possible for you? Think about Tim Ferris's well-known book "The 4-Hour Work Week." He basically talks about keeping your mind on the task at hand, getting rid of unnecessary things, and then giving "operations" to other people through clear work processes. That's your 95%! Four hours is only 5% of a busy small business owner's work week.Any good Business Process Management (BPM) system will help a company become smart and able to run itself. BPM tools can handle complicated business tasks while saving a lot of time, which is important in a time when jobs are being cut and process life cycles need to be shortened more and more.During a business cycle, a normal process may have several complicated steps that need to be done at the same time. In the long run, this makes a huge web of complicated process chains. This is where BPM comes in. It ties all of these different threads together and fixes any processes that aren't working right. This link between things can help a lot with planning and making things easier.When you buy Business Process Management tools, they already have the main features you need to manage the flow of processes, make sure they are automated and constantly supervised, and better assign resources. Business Process Management is more than just making systems run more smoothly.
It makes it easier to combine, automate, and measure business processes in order to make them better
It leads to constant improvement, digitization of processes, and business excellence, which are all great results.If you used traditional BPM software (on-premise or before the cloud), you had to buy licenses up front, pay for a project to deliver the solution, and then pay 20% or more a year in upkeep fees on those licenses.If you're a big bank, telco, or utility, you probably don't have to worry about money too much. You probably buy business licenses for everything and run it on-site. The rest of the world does things a little differently.In the real world, you'll be lucky if your finance department doesn't have a disagreement with you by the time your system goes live. You'll have spent hundreds of thousands or millions of dollars before you see any return.You can even out your costs with Cloud BPM, but there will probably still be an upfront setup fee. If you can't do the configuration yourself, the fee will be higher. You never really own the software license, so it doesn't show up as an asset in your books. On the plus side, you didn't have to pay any license fees, so you can still sit at the table.Putting your project in the cloud should also make it go faster, since you won't have to buy or set up computers again.
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