Madness in the sign and graphics industry
Definition of Einstein
Albert Einstein once said, “The definition of insanity is doing the same thing over and over again and expecting different results.” Think about this quote for a second and ask yourself, does this quote apply to the way you run your company?
Have you been doing the same thing over and over expecting different results? If so, you may want to keep reading. In a world where technology is becoming a key productivity tool for the success of any business, it all comes down to whether you accept and take advantage of technology or reject it. Are you willing to change or will you do the same thing over and over again? T
Here 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 huge benefit to their business, and second, owners have trouble measuring the profits they are missing out on. by rejecting this technological change. Have you ever rejected technology?
“If it ain’t broke, then don’t fix it!” Mentality
Do you expect to increase profits by continuing the same trading 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 upgrade or change their current approach. They believe there is no need to invest in a new method when the old one still seems to work just fine. This is the common, “If it ain’t broke, then don’t fix it!” mentality. Well, I hate to be the one to say this, but just because something isn’t “broken” doesn’t mean you can’t make it work better. When new technology like software could save you huge amounts of time and money, how could you not embrace it?
In an industry where there is an increasing level of competition, 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 a single one color press? Sure they can continue to operate with a one color press, but a two or four color press would not help them expand their business to other areas more effectively. In this example, the current method works, but a technological change would help increase the company’s ability to grow.
Exploring these other areas helps companies maintain and grow profits. Without embracing new technology, store owners greatly limit their earning potential. By using the power of technology to make their business practices more efficient, owners can continue to achieve their goals.
Are you sacrificing yourself?
Many store owners we spoke with struggle to visualize how much money they are losing or, for that matter, how much money they are giving to their competition, due to inconsistencies in the workflow process. These shops feel that they are doing well with their current system and see no need to switch to a new method. This shortsightedness can cause owners to limit their future earnings.
On the flip side, homeowners who see a need for a change begin to focus more of their attention on how much money it will cost them to make the change rather than how much they are losing. These homeowners become insecure and wonder if today’s investment will be worth it tomorrow. For those owners, how much will it cost not to change? You know? Is it one, three, possibly five jobs a day? Do the math. How much money/time is lost due to inefficiencies such as faulty estimates, overpriced or underpriced work, or lost invoices.
Ask yourself, how long can a company continue to compete if it is not being as efficient as its competition? If companies choose to stay with the same system they’ve been using for years and reject change, are they, in essence, choosing to sacrifice future profits?
$100,000 a year
One particular company we spoke with was losing 4 orders per week to their competition. Since only one person in the shop could estimate, it took days to get quotes for customers, forcing their customers to seek out and eventually accept bids from competing companies. When this company finally looked at its method and applied a dollar amount to the loss, it estimated that it was losing about $100,000 in revenue a year. Incredible true? 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 profit? How does a company like this miss out on a $100,000 opportunity? Simply put, insanity, the definition of Einstein.
It’s not just love
Companies aren’t just losing profits due to bad estimates; they are also losing profits due to lack of follow-up or customer management. When sending 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 outstanding estimates? By using powerful integrated business management and estimating software, like Cyrious, businesses can create reminders that will tell employees who to call, when to call, and why, automatically. Keeping all your customer, contact, and order information in one place increases your ability to save time and build customer relationships essential for business growth and expansion.
adapt to change
By adapting to change and embracing and leveraging technology, store owners using Cyrious Software have become more efficient and profitable.
Cyrious helps homeowners resolve a variety of different frustrations. If you are an owner who is frustrated with the estimate taking too long or upset that orders are lost and misplaced, Cyrious has a solution. Cyrious helps put an end to the lack of integration by providing the power of multiple software systems in one (estimating, accounting, job tracking, client management, etc.). No company is happy with losing customers due to late quotes or losing money because parts are omitted from quotes and orders.
When homeowners understand how much time and money a different method can save them, switching to powerful software like Cyrious is simple. Is it time you explore different methods to increase sales and profits and make your business more manageable?
For more information on Cyrious software, visit http://www.cyrious.net, call 1-800-552-1418, or email [email protected]