Technology -- What , When and How??

Any SMB (small and medium-size business) works and proceeds towards growth path, obviously by reducing cost and increasing Sales (and hence profitability) . But the question remains: How to reach there? It was mentioned by Jeff Stiles, the senior VP of Small-Medium Enterprise Marketing at SAP, that the only solution for a constant growth of SMB’s is to "embrace new technologies". With the advent of technology, not only the working methodologies become trouble-free but the pace at which things can be done increases manifolds.

One of the major challenge faced while decision making by an organization is about,'what, when, and how much' to invest on a technological solution. It is very crucial for any SMB to comprehend the various facets where technology plays a vital role in their business growth. To begin with, it is essential to focus on 'increasing productivity' which is clearly determined as 'how to do more with less'. One easy way to attain ‘efficiency’ is to invest in products designed especially for SMB's, are scalable and affordable, proposing a 'plug and play' solution. Software like Dropbox, an online virtual storage utility that allows synchronization of files across various systems wherever the client is installed, is a perfect paradigm of saving time at a negligible cost. This revolutionized way to store and share files leads to a non-stop communication process as opposed to tedious methods of e-mailing and flash drives.

The launching of new technologies constantly alleviates some fundamentally essential tasks to be performed smoothly and without a hitch. Today, personal computers with a fixed work station are turning history and slowly but surely are taken over by the 'mobile revolution'. This new generation of smart phone is supported by ubiquitous high-speed web connectivity. A lot of work turns handy with such software like QuickOffice and ScannerPro, which smoothens tasks like transferring PDF, Microsoft Office and iWork files to other devices like printers, mailers, networks etc. without further ado. For SMB's, getting accustomed to these applications would not only emerge to be cost effective but also profitable by saving time on these petty tasks.

Being the biggest category of planned investment expense, technology can lead to a dramatic increase in productivity, resulting in more output, without necessarily adding to the 'staffing expense'. The emergence of online communications, with launching a great website, an awesome navigation and content, an email newsletter to reach people right in their email inboxes, blogs to foster more conversation and boost the web sites rankings in search engines is a mark of "Web 2.0" technology. Through this the organization can ensure that the website enables visitors to communicate & connect with the company as well as each other. This unified communication network is integrating the operations of ticketing portal 'kyazoonga.com', who have hired, trained and developed only two technicians for this 'Search Engine Optimization'.

The 'augmented reality' of trends in applications also implies in depth awareness about ‘outgrowing’ of current tech solution for a SMB. Consequently, while investing in a technology it is more important to implement it in an efficient manner. The investment in right kind of technology can help the business reach the next higher level and retain more customers. Along with a right choice, it is also essential to integrate it with various aspects like CRM, supply chain management, billing/payment, innovation tools and R&D processes. It is equally important to train and develop the workforce to make sure an optimum use of technology and an overall advantage for the company’s expansion. The amalgamation of cheap and abundant knowledge available to the customer along with skilled personnel is another key to a successful technological investment.

During recession a lot of businesses were forced to 'retrench'. Most of the "growth companies" claimed the usage of online payment methods like 'PayPal', during the economic downturn, as compared to the "staying afloat" or the "sinking ship" companies. This method ensured an immediate payment, while keeping the cash afloat in the market. The simple adaptation of online invoicing and payment method helped these businesses to use customer generated funds to fuel their overall growth. The credit card companies are also introducing ‘payment via swipe on mobile phone’, which could mean a big changes for small businesses, part-time vendors, boutique owners and even small individuals like a florist.

I have seen people handling Multi-crore Business without a single computer installed (yes this is India, everything is possible) and witnessed a vegetable vendor sending e-cards on Diwali. Both knew Technology is important the latter was using it without any precedence whereas the former didn't in-spite of a imminent need.

The simple fact is people still don't know how and whom to approach to fully benefit form technology. This gives a huge opportunity to IT Co.'s ( i hope they are listening) to tap the SMB sector which account for 40 % of all exports. The winner amongst the IT co.'s would be the one who reaches out to SMB's , as there are lot of services available but people just do not know about them.

A computer peripherals co.'s CEO used to courier CD's of Posters and Catalogs to its Branches office till recently , before they knew about a yousendit.com . Well i personally feel that, this is one service which has lot of scope for a software co.'s to look into and most of them are going into the "Cloud"

The mantra, in that way, is to learn the basic principles of leveraging technology to make the business stay: prolonged, flourishing and on the rise. Only adequate and appropriate investments can help in reaping big rewards, now and in future. Updating technology, thus, helps in collaborate the our efforts to meet customer needs by 'serving' them better and as for the IT co's they just need to stamp their products straight on to our face for us to notice them.

People First..

Most people work-hard either for personal fulfillment or love. Others have certain goals and aspirations to contribute to something bigger. Some fill their empty time with an activity, a change or a challenge to cater to. Others fulfill their particular needs through accomplishment of some pre-stated missions.

Companies often overestimate their employee's satisfaction level by limiting it to the monetary rewards. In an article, "The Ten Ironies of Motivation", by Bob Nelson, he states that, "More than anything else, employees want to be valued for a job well done by those they hold in high esteem". A simple sign of appreciation and gratitude like 'thank you', by a supervisor or manager, on completion of a humiliating task performed well, acts as an effective motivational tool. It is important, as quoted by Traci Fenton, founder & CEO, WorldBlu, "The organisation should not treat some people like ‘somebodies’ and other people like ‘nobodies’".

Binding the workforce to the organization is no more limited to a "network selling" or a "direct selling company". Personnel turnover is an essential parameter for any organization to take care of. A lot of surveys consistently illustrate that "more than 40 percent of people who quit do so because they feel they weren't appreciated for their contributions", clearly undermining the importance of recognition and attention from supervisors.

A simple "caught you at your best program", allows employees to thank or acknowledge others for doing exceptional work. A handwritten note with a specific detail about a praiseworthy attitude exhibiting instant recognition fosters esprit de corpse - the spirit of a group that makes all its members succeed.

To celebrate and value the employees well as a crucial asset is also important. By using one-size-fits-all approach in terms of salary, recognition, praise or benefits, the company actually punishes the best performers. As Vince Lombardi is reputed to have said, "There is nothing more unequal that the equal treatment of unequals." An overall involvement of supervisors in the performance review process along with a productive feedback can more likely improve the performance of an employee. The company can also restructure the KRAs (key responsibility areas) of its employees according to their respective passions.

Kamal Karnath, MD of Kelly Services, on undertaking his team to climb Garur Maachi, a fort near Pune, stated the importance of off-sites, which according to him helps "handle the disgruntled employees". Karnath, further says that firms have even started hiring third-party consulting agencies to check on staff satisfaction levels and report to the respective heads.

At Brainpark, in San Francisco, employees can vote the CEO and senior leaders out of their position if they feel they are not doing a good job. Such cases are not be common in India, but companies are trying to make a difference. HCL Technologies, with nearly 60,000 employees’ world-wide, calls their management approach, ‘Employees First, Customers Second’.

Employees’ delivers value to customers, customer brings growth to organization, and growth offers opportunities to employees. Thereby, employees’ forms a part of asset group that provides a future economic benefit to the company. And, therefore, it is very important to build a protected and progressive environment for them to nurture them.

Recently i met an a highly successful entrepreneur who said" i started my co. with two things - People & Service " and as his organization becomes a multi-million enterprise he's come a full circle with " re-energizing the core strength- People "

Another entrepreneur of whose start-up faced problems in retaining the employees was analysed to be because they didn't have proper induction program. "We thought providing them the freedom to work as per their own free will was enough, when they(employees) were looking for a clear direction and process."

So being the next google as the "best place to work with" requires more than just the intent or incentives..

Execution is the Idea...

It has been rightly said, "Ideas are easy. It's the execution of ideas that really separates the sheep from the goats", (by Thomas Jefferson).

Let it be the arena of a sports, entertainment, politics or business, but the question is not -"Will the new strategy work or not?" On the contrary, it is the successful execution of the idea that determines the fortune of any strategy. A great execution can make a shoddy plan successful, but a shoddy execution can fail any great plan, however innovative it may be.

An Accenture and the Economist Intelligence Unit's study indicates that "although executives are confident in their growth strategies, they are less confident in their companies’ ability to execute those strategies". The survey results reported that, only 30-35 percent respondent companies' are effective in executing growth initiatives and innovation strategies.

Another research performed in cooperation with the Centre for Strategy Research (CSR), confirmed this gap between strategy and execution. The study involved detailed conversations with about two dozen executives of Fortune 1000 companies, who associated the importance of innovation very strongly to the successful implementation of growth strategies. However, they resonated to common notions when it came to constraints on execution namely, "budget shortages, absence of experienced resources and so on".

A major reason for failure in execution is the constant shift in focus of strategy. When HP acquired Compaq, to compete with Dell, it shifted its focus every week competing on price, service, technology etc. and forgot completely the highly priced channels. While HP fought for the perfect strategy, Dell succeeded instantly with a powerful execution of customization and "Just In Time (JIT)" strategies. Execution, thereby, is nothing but the art of synchronization, i.e., "getting the right product at the right time to the right customer".

Execution is most important when innovation is at the heart of the strategy. It is most important then to experiment, learn and adapt. In a new business model, even a well thought out strategy lapse in value, while dealing with uncertainty. As quoted by Mr. Ankur Mittal, MD of Ordell Education, the key to success for a creative business model like his is to "analyze every step, adapt to the real environment, than to make a same mistake twice". Adding on, he mentioned the importance of implementation of ideas more than the ideas themselves. According to him, it is more important to "re-evaluate, re-learn and re-execute the strategies as you get your business rolling". Hence, constantly questioned strategies and rewritten solutions forms the backbone of any innovation.

Even the tried and tested strategies do not work in a different environment. It is important to study factors influencing the culture, society, value systems and beliefs of the new environment. The customers' mindset evaluates the perceived benefits in terms of price or/and performance and not technology. So, innovation not merely imply new ideas, but, improved cost positions, better product and enhanced benefits, increasing the overall value for the customer.

For the businesses', innovation implies a better margins position as compared to the competitors. Perfect execution directly equates to the increased financial meter by an improved top line, higher revenues, and a higher return on investments. The focus of companies should, thereby, shift towards the practical implementation than theoretical formulation of creative ideas.

#TWAD

Finally twitter got down to do some business. It's taking the first step to earn some Ad revenue..

via Promoted tweets..

What does this mean ..will we get unnecessary spam on twitter too..

Well according to starbucks.. it won't be intrusive or spam..

I'm all for twitter monetizing itself.. in the process it can show

promoted tweet #pt

but they must not come in my twitter feed..

could be a small box on the right .. with text ads.. wont mind that..

I'm looking forward to how co.'s like sony , apple or zappos use them..

Tweet Tweet...

twitter has come up with itz new homepage... It has added new bling to itz homepage.

So one can see who's on twitter,

some top tweets..

trending topics is now scrolling across the page..

and even a Tab to guide how one can use twitter for business..

Sign of new things to come?????

Govt. Goes Social

Look who's logged on to Facebook.. The Govt. of India.

Well Dept Of Science and Technology's NSTEDB along with Dell India have come up with The Technology and Mentorship Forum to foster entrepreneurship in India.

They are actively advertising on Facebook ..urging users to unleash the enterpenuer within themselves , with Top Industry Leaders as Mentors to guide them.

Anthem Academy is the Knowledge partner for this initiative. Anurag Gambhir of Anthem Academy Says " Social Media is where the founders of new start-ups , next generation entrepreneurs are, so its a logical choice to tap this platform and spread the word"

Well now this is one Socialist move which many would welcome...

Billion $$ Ad Space.

The above is the screen shot of Google's Indian homepage www.google.in

Google is trying to garner maximum mileage from the Indian Premier League

With Cricket fever at it's peak YouTube is streaming the IPL matches (with a 5 mins Delay) and google aims to drive maximum traffic to it via the most sought after advertising space in the web.

The start of IPL had been a trending topic on twitter ,I'm not surprised at that.

IPL is a multi-billion $ enterprise and has been a huge draw for advertisers.

Well Cricket Fever is at it's peak.

What a way of acknowledging that by Google...