If you are a business owner then you have probably realized how much of your businesses success relies on balance. For example, the balance between profit and expense, the balance between work and life, the balance between the customers’ needs and businesses needs and so on! Well the same is true for the optimization of your business. Making improvements within your business comes down to finding the right balance between people, process and technology. A healthy balance of these three things will ensure that you retain your current customers while also attracting new ones. So what does the balance of people, process and technology look like? Let us explain using what we have observed and learned through experience.
To begin with, every business relies on people to some degree, whether the business is small or large. This is not a bad thing. The people that work for a business are the businesses hands and feet. Or in other words, employees help ensure the business actually does business. But there has to be a balance. For example, if you have a business that relies too heavily on the experienced people employed then you might feel lost or like you are starting all over again when those employees leave. Whereas if you have a healthy balance of people AND process, it creates a strong foundation for new employees to come in and begin working with established processes without having to “reinvent the wheel.” When both processes and people are working in harmony, work flows smoothly and communication is effective which results in productive collaboration.
Most business owners agree that having processes are important. It safeguards both the employer and the employee while also considering the customer and their needs. However, process too can be a double edged sword in business when there is an imbalance. Too much process and your employees can’t think for themselves or are too afraid to think for themselves. Too little process and there is no accountability or contingency plan. If you have a business that focuses too heavily on having a process for everything you might find that you have to spend a lot of time thinking through every possible outcome. When you do feel like you have enough established processes to move forward you might find that your processes need to be different than what you predicted–this again is another time hog. Alternatively, if you are a business lacking in process, but your customer needs something accomplished, they aren’t going to want to wait for you to build that process. At times you just have to act and allow the process to follow.
Technology can be one of the greatest benefits to your business or one of the biggest downfalls. In a world teaming with new business technologies it can be challenging to wade through the options and decipher which technologies will actually enhance the human experience. Like people and process, technology too has to be considered alongside current process, the people employed and the clients needs to determine if it is a fit. When balanced effectively process and technology can create wonderful automations that don’t take away from the human element. Additionally, a good balance between technology and people can create amazing innovations within your business.
Now that you understand how people, process and technology work together it is important to look inwardly and take time to consider how these things are positioned within your business. At the end of the day, businesses have to operate differently than they did in decades past. People are demanding more in terms of how they want to interact with businesses. If you are not willing to adjust your businesses balance of people, process and technology to align with the needs of the modern man and woman then you will lose customers. So make plans and more importantly take steps to correct imbalances and you will optimize your business!