How Much Math Is Needed To Become A Business Owner Einstein – Definition of Insanity

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Einstein – Definition of Insanity

Madness in the signage and graphics industry

Einstein’s definition

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 moment and ask yourself, does this quote apply to the way you run your business?

Have you done the same thing over and over expecting different results? If so, you may want to read on. In a world where technology is becoming a key productivity tool for the success of any business, it simply comes down to whether you embrace and leverage technology or reject it. Are you ready to change or will you do the same thing over and over again? T

There are two main reasons why I ask this question. First, many store owners today have trouble understanding how new technology, specifically software, can become a significant benefit to their business, and second, owners have trouble measuring the benefits they are losing by rejecting this technological change. Have you ever rejected technology?

“If it ain’t broke, don’t fix it!” mindset

Do you expect to increase profits by continuing the same business strategy year after year? If so, how long do you think the method will work?

Many store owners simply don’t see the need to update or change their current method. They believe that there is no need to invest in a new method when the old one still seems to work well. This is the common one: “If it ain’t broke, 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. When new technology such as software can save you huge amounts of time and money, how can you not embrace it?

In an industry where there is an increasing level of competitiveness, store owners must take advantage of all available methods to help them reduce costs. Would a commercial printer looking to grow their business limit their shop to just one color press? Sure they can continue to operate with a one-color press, but a two- or four-color press would not help expand their business into other areas more effectively. In this example the current method works, but a change in technology would help increase the company’s ability to grow.

Exploring these other areas helps businesses maintain and increase profits. By not embracing new technology, store owners severely limit their profit potential. By using the power of technology to make their business practices more efficient, business owners can continue to achieve their goals.

Are you sacrificing yourself?

Many store owners we talk to have a hard time visualizing how much money they’re losing, or actually how much money they’re giving to their competition, due to inconsistencies in their workflow process. These stores feel they are doing well with their current system and see no need to switch to a new method. This lack of vision can cause owners to limit their future profits.

On the opposite side, owners who see the need to change begin to focus more on how much money it will cost to make the change rather than how much they are losing. These owners are unsure and wonder if today’s investment will pay off tomorrow. To these owners, how much will it cost you not to switch? Do you even know that? Is it one, three, possibly five jobs a day? Do the math. How much money/time is lost due to inefficiencies such as bad estimates, under/overpriced jobs, or missed invoices.

Ask yourself, how long can a company continue to compete if it is not as efficient as its competition? If companies choose to stick with the same system they’ve been using for years and reject change, are they essentially choosing to sacrifice future profits?

$100,000 per year

One particular company we spoke to was losing 4 orders per week to their competition. Because only one person at the store could give an estimate, it took days to get quotes to customers, forcing them to seek out and eventually accept bids from competing companies. When this company finally analyzed their method and applied a dollar amount to the loss, they estimated that they were losing about $100,000 in revenue per year. Amazing right? How much would 4 orders a week cost you? Or if you could take 4 more orders a week, what would you do with the extra profits? How can a company like this miss out on a $100,000 opportunity? Simply put, insanity, Einstein’s definition.

It’s not just an estimate

Companies aren’t just losing profits because of miscalculations; they are also losing profits due to lack of follow-up or customer management. When you send quotes to potential clients, how often do companies remember to follow up? With the constant chaos that store owners experience on a daily basis, this tracking process can quickly become a forgotten aspect, especially if the current estimating system does not include this integration.

How much can a company increase its “win” rate for estimates by making follow-up calls to all customers with pending estimates? By using powerful integrated business estimation and management software like Cyrious, companies can 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 essential to business growth and expansion.

Adaptation to change

By adapting to change and embracing and leveraging technology, store owners using Cyrious Software have become more efficient and profitable.

Cyrious helps owners solve a variety of different frustrations. Whether you’re a frustrated owner to love because it takes too long, or you’re annoyed that orders get lost and lost, Cyrious has a solution. Cyrious helps end the lack of integration by providing the power of multiple software systems in one (estimating, accounting, job tracking, customer management, etc.). No company is happy to lose customers to late quotes or lose money because parts are left out of quotes and orders.

When owners understand the amount of 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, go to http://www.cyrious.net, call 1-800-552-1418 or email info@cyrious.net

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