10 Steps to Avoiding Small Business Insanity

10 Steps to Avoiding Small Business Insanity

Creating new outcome and opportunity.

Insanity is defined as, “doing the same thing over and over again but expecting different results. “If this holds true, then there are some logical steps that SMBs can take to avoid insanity. Because of their daunting nature, SMBs often ignore business challenges and continue to conduct business in the same manner as they always have. Partaking in this behavior is strangely similar to the definition of insanity. So, consider the following steps… and keep from joining the ranks of the SMB insane:

  • Leave technology to the experts: Business people trying to become technology experts often ignore their business. Stick to what you know – your products/services and business. Leave the rest to technology experts.
  • Don’t hesitate to take a risk first: Taking a ‘wait and see’ approach seems prudent, but it will frequently put you behind your competition. Often innovation and new solutions usher in higher levels of performance and results in cost savings. Don’t wait for your competitors to test the waters, allowing them to reap the benefits while your costs escalate and business performance slows down. Take the dive yourself.
  • Focusing on the profit, not the contract: SMBs work hard at finding, closing and keeping customers. In this rush, many choose to run from one contract to another, never really measuring the costs associated with a product/ service, a market, or a customer. In this rush SMBs tend to overlook the need to measure their desired profit growth. SMBs need to assess where they should spend their time by hoe much profit is created. This can be accomplished through automated financial and reporting systems, which put owners in control of their information, allowing for the informed decisions to be made.
  • Supply your employees with the best productivity tools: In the quest to manage costs, SMBs will often hold back on utilizing new and innovative productivity tools, the result of which is decreased productivity, a higher volume of errors and customer dissatisfaction.
  • Be accessible to your customers, vendors and suppliers at all times: Many SMBs forget that their customers are a large part of their business success and future growth. A lack of collaboration can lead to communication breakdown and your relationships with your customers will ultimately suffer as a result. Staying out of touch with your vendors/suppliers can keep you from negotiating better prices or terms. Integrating your ‘value chain’, from suppliers to customers, will open up communication and can result in unprecedented growth.
  • Stay ahead of your competition: It is hard to become a leader in your market or in your customer’s eyes if you always take your cues from the competition. SMBs should strive to become leaders in their own right. This is achieved through a clear understanding of the market including their products/services, the competition and customers. Information available through industrial-strength financial and collaborative solutions will help you to understand these areas of your business and keep you ahead of the competition.
  • Invest your time in seeking new opportunities: Leading SMBs invest their time in constantly creating new opportunities in order to grow their business and stay ahead of the competition. Many SMBs make the mistake of investing their time into protecting their markets and existing customers while the competition speeds past them. Rule of thumb: it’s better to play offense instead of defense.
  • Cheap and inexpensive are not always the right way to invest: We all want to conserve costs, but often SMBs will expect the best, while only willing to pay the least. Adopting new technologies or solutions that are inexpensive can keep your business from growing at full speed. Avoid considering opportunities based upon price alone, and instead make wise investments that will return new opportunity, revenue, productivity and profit.
  • You can’t do it all: At some point we all learn this lesson. SMB owners will often try to handle every problem area of their business on their own instead of surrounding themselves with the best talent and tools to help. It is important to capitalize on the strengths of these experts and put them to work.
  • Don’t forget about hidden costs: Technology industry analysts and seasoned business executives have difficulty putting a hard figure on the Total Cost of Ownership (TCO) of today’s traditional SMB application solutions. In computing the cost of software, businesses tend only to focus on the purchase price, yet even when fully operational, software requires additional expenses. Don’t forget to budget for costs associated with support, maintenance and upgrades.

Learn how to avoid SMB insanity. SMB Suite is the perfect business solution for small and medium size businesses with a need for change and hunger for growth.

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Steve’s been with SMB Suite since 1998 and has been involved with nearly every aspects of the Company’s business as a strategist, professional services executive, cloud solutions architect, and senior consultant. In his current role, Steve is responsible for SMB Suite’s revenue and oversees the execution of ERP, CRM and BI projects for customers across a broad range of industries. Steve combines his expertise in MS Dynamics GP, CRM and other Microsoft products with a strong foundation in accounting and business to identify gaps and streamline customers’ processes. Prior to co-founding SMB Suite, Steve was previously Corporate Controller for MEHLE Behr and, prior to that, Audit Senior for Ernst & Young. Steve holds a Bachelor of Business Administration degree from the University of Texas at Arlington.

Jeremy is responsible for SMB Suite’s technology vision, strategy and implementation and is the architect of the Company’s Dynamics Cloud Platform. Highly adept in every facet of managed services, ERP systems and e-commerce platforms, Jeremy’s expertise spans the implementation and support of business and financial software solutions, as well as the customization and integration of SMB Suite’s cloud ERP technology stack. He holds numerous Microsoft and industry-related certifications, and was primarily responsible for designing the Company’s progressive business services platform in the early days of the Cloud. Prior to SMB Suite, Jeremy served as the financial analyst, systems administrator, and information systems liaison for a $2 billion financial services corporation.

Monty is responsible for SMB Suite’s day-to-day operation and, most importantly, its customers. As a leader, motivator and mentor, Monty creates loyal high performance teams willing to “walk through walls” to accomplish their goals. Prior to SMB Suite, Monty served as President of The Bradshaw Group (TBG), a global distributor, manufacturer, and repair facility for digital printers. In this role, he was the Company’s ambassador to its most important domestic, European and Latin American customers and TBG achieved a best-in-class Net Promoter Score of 74 for its superb customer satisfaction. Prior to TBG, Monty served as the General Manager of Sam’s Clubs three highest grossing U.S. stores and was named Regional Operator of the Year in 1999. Monty holds a BBA in Marketing from Texas Tech University and is an active member of Business Navigators. He has been active in Vistage International, Executives in Action, the Dallas/Fort Worth Retail Executives Association, as well as, A.P.I.C.S., the leading professional association for supply chain and operations management. Monty also volunteers with Hunger Busters and ManeGait, a therapeutic horsemanship organization.

David is a proven financial and information technology professional with expertise in providing business accounting software and computing solutions. He began his career by starting and managing a successful independent consulting practice for several years. He then launched the local systems consulting unit of Ernst & Young’s Entrepreneurial Services Group, leading the office into the hi-tech consulting arena. After successfully developing the unit for Ernst & Young, David founded NextCorp (which became SMB Suite in 2013) to serve the business software needs of clients throughout the US. David has made SMB Suite one of the best cloud ERP providers in the industry. In addition to being a successful entrepreneur and leader, he is a software and technology specialist, holding certifications in various Microsoft and other technologies.