Business Education

Entrepreneurs, It’s Time to Ask, “Is Technology Helping or Holding You Back?”

In 1944 during World War II, two US submarines, the USS Robalo and the USS Flyer, went down in the South China Sea. Since then, different explorers have been trying to pinpoint the location of the downed ships. Approximately 80 years later, modern-day shipwreck experts have been using the latest technology to try to pinpoint the location of the sunken submarines, but have been unable to do so.

Desperate to find clues, the high-tech team recruited local Filipino divers to help them find the remains of these ships. Using nothing more than homemade diving gear, pieced-together from discarded plywood and plastic, and without technological tools, the locals, using just their unsophisticated equipment, found the sunken submarines.

When to Ditch the Tech: Why Old-School Methods Are Your Secret Weapon

Entrepreneurs today lean heavily on tools, apps, and analytics. While technology is essential in driving efficiency, it can’t replace foundational business skills. When facing uncertainty, reverting to old-school techniques can provide the clarity and perspective needed to navigate complex situations.

The Perils of Tech Overdependence

Data Overload and Analysis Paralysis

Business owners of today can often drown in data. The very tools that should help can end up hindering progress. A survey revealed that nearly 70% of entrepreneurs struggle with decision-making due to excessive data, leading to a condition known as analysis paralysis. This paralysis can halt growth and lead to missed opportunities.

The Illusion of Control

Tech often gives entrepreneurs a false sense of control. Automated processes can create an appearance of preparedness. However, when the unexpected occurs, this reliance can crumble. Entrepreneurs may find themselves unprepared to handle reality, as the software cannot predict every scenario.

Ignoring Essential Human Interaction

Technology diminishes the value of personal relationships. Face-to-face communication remains vital for networking and collaboration. A handshake can often open doors that a few emails may not. Ignoring this core principle can lead to missed connections and lost business opportunities.

The Power of Old-School Techniques

Direct Customer Interaction

Speaking directly with customers can yield invaluable insights. Surveys, focus groups, and casual conversations often reveal preferences and needs that data alone cannot. For instance, when Starbucks implemented customer feedback into their menu changes, they saw a significant increase in customer satisfaction and sales.

The Art of Networking

Building genuine relationships with mentors and fellow entrepreneurs can provide immense benefits. According to networking expert Debra Fine, “Your network is your net worth.” Tapping into the experiences and advice of others can offer guidance that no software program can replicate.

Market Research the Old-Fashioned Way

On-the-ground research can be eye-opening. Visiting competitors, attending industry events, and observing consumer behavior offers real-world insights that spreadsheets cannot capture. Understanding the market landscape in person can lead to an edge that purely digital methods cannot touch.

Strategic Planning Beyond Spreadsheets

The Value of Pen-and-Paper Brainstorming

Getting ideas down on paper offers more than just a traditional approach; it enhances creativity. Studies show that writing by hand can boost memory and comprehension. It helps entrepreneurs distill their thoughts clearly without the noise of digital distractions.

SWOT Analysis

The classic SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis is a straightforward yet powerful tool. This simple diagnosis helps entrepreneurs visualize their business’s position. For example, a local bakery that excels in quality (strength) but struggles with marketing (weakness) can identify unique opportunities for growth through community events.

Developing a Tangible Plan of Action

Having a clear, written action plan is crucial. This plan, crafted without reliance on software, can serve as a roadmap amid uncertainty. A good plan outlines goals and the steps required for success without becoming buried in digital clutter.

Mastering the Blend: Technology and Tradition

Integrating Tech for Efficient Execution

Using technology can enhance traditional methods, not replace them. Tools can streamline processes and maintain organization, but they should support rather than dictate decisions. Finding a balance is essential for success.

Leveraging Data Insights Strategically

Filtering through data to focus on key metrics is vital. Businesses should prioritize meaningful insights over an overload of information. This approach aids in making informed decisions without drowning in excessive data.

Setting Boundaries and Prioritizing

Time management is crucial in blending old and new. Entrepreneurs should set limits on tech use, allowing ample time for networking and direct customer interaction. Striking this balance can lead to a more rounded business strategy.

The Balanced Approach to Entrepreneurship

As you can see, blending technology with old-school practices can empower entrepreneurs. While modern tools offer immense benefits, they shouldn’t overshadow essential traditional methods.

Keep in mind that a flexible mindset will help adapt to changing circumstances. The journey is not just about tech; it’s about blending proven techniques with modern strategies for lasting success.

Want to Accomplish More?

Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do?

We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test.

You can call us for your free appointment at 480-636-1720, or, if you prefer, Waters Business Consulting Group to learn more about us and the services we offer.

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Here are the 3 Biggest Leadership Blind Spots Harming Businesses Right Now

January 1, 2019 No Comments

The top leadership blind spots aren’t new phenomenon. In fact, these are common and have persisted for practically as long as the market existed. Even in an age of readily available information, it’s far too easy to get caught up in these traps. So, let’s take a quick look at the most common leadership blind spots to avoid. Leadership Blind Spots Lead to Failure Blockbuster. Walden Books. Barnes and Noble. MySpace. J.C. Penny. Sears. K-Mart. Edsel. Steak and Ale. The list goes on and on and on and on. Of course, hindsight is 20/20. But, even in when things began to unravel, these brands just didn’t do enough to adapt. When you look closely at what triggers crises in organizations, you often see that there is a major leadership oversight or blind spot that has allowed the crisis to exist in the first place – and then grow, unrecognized, until it’s too late. Just as many leaders want to be perceived as trustworthy in a rapidly changing environment, leaders themselves need to be aware of who and what they are trusting. Misplaced trust is a clear precursor to trouble. —Forbes What so many in the public saw as clear writing on the wall, the powers-that-be or rather, were, internally didn’t fully comprehend or heed. The result — utter failure. All of the above examples are prime examples of blind spots taking over and leading straight to obsolescence. Top Leadership Blind Spots Harming Businesses It’s not altogether clear what actually happened to bygone companies but it is readily clear what action was taken simply did not suffice. Okay, that’s a bit obvious. However, it’s not always easy to see what’s truly going on and that’s what gives blind spots their names. Here are the top three leadership blind spots harming businesses today: The dreaded status quo. Sure, we’ve all heard and even used the term. Still, it’s used so much that its meaning has nearly been lost. Status quo ante or literally, “the state in which before,” says it all. “Before,” meaning a shift occurred. When things are going well, it’s all too easy to forego considering what might lie ahead and that’s a big blind spot. Spending even more money. When a project doesn’t go the way it’s planned, there just might be a temptation to turn it around — by throwing more money at it. But, bailing out is only a stop-gap measure, it doesn’t actually remedy the problem. Focusing on the short-term instead of long-term. Although short-term wins do much they also can obscure long-term consequences or trends. While it’s great to accomplish something that pays off today, it’s very damaging to let that satisfy and take the edge off the unknown of tomorrow. What other leadership blind spots would you include? And, how do you identify and get past them and others? Please share your experiences by leaving a comment! For more good reading on Blind Spots, please click on these links for a book written by a good friend, author and paid keynote speaker, Kevin McCarthy. Bestselling book: Blind Spots: Why Good People Make Bad Choices Www.KevinMcCarthy.com Www.LinkedIn.com/in/kevinmccarthyCSP Www.Twitter.com/kevinmccarthy01 Immediate Past President for National Speakers Association, Oregon Chapter. NSA Chapter Member of the Year 2014-2015. Interested in learning more about business? Then just visit Waters Business Consulting Group.

Hey, Entrepreneurs, If You Want to Succeed, Stop Seeking Advice from People Who’ve Failed

November 10, 2022 No Comments

Everyone has an opinion. But, everyone can’t be right. There’s always a set of best practices and then there are ways to do things that fall short of success or lead to bad outcomes. So, this is why people seek advice from their family and friends when they want to start a small business. The trouble with this approach is that the people the entrepreneur is speaking to may not be the owner of a profitable small business. While it’s certainly understandable to seek advice from people you trust, that doesn’t necessarily mean they’re the best or only sources. Remember, Real Friends are Supportive Here’s another problem. There are a lot of individuals around you who will tell you that you can’t do it. Usually, this is based on fear, but can also manifest from those who are envious that you’re willing to take a risk to improve your life and be professionally successful. Then, there may even be people around you who went into business for themselves, but it didn’t work out. Ask business owners who specialize in the same niche as your startup if they have any tips. Business owners in your market know about accountants, lawyers, and recruiters who might be a good fit for your needs. They can make recommendations and point you in the right direction. —Entrepreneur.com While the reason that their businesses failed might not be direct to their own decisions, it’s generally a safe bet. Even if it was circumstances beyond their control, successful business owners are the ones who find a way through tough times, endure, and come out on the other side. To put it much more plainly, if you’re seeking advice from people who have failed in their own business ventures, you’re speaking to the wrong people, unless they have gone on to succeed in other ventures by learning from their failures. Failures can be the precursor to success if we learn from them. Best Places to Seek Business Advice Fortunately, there are a few places you can go to get reliable, actionable advice about starting your own business. Here are the best places to seek entrepreneurial advice that will help you get started in the right direction: Successful individuals in the industry. Sure, this sounds all too obvious. But, a lot of people who want to go into business for themselves are fearful of speaking with people that are already successful in the industry. Now, that sounds strange, but it makes sense if you think about it in a different way. Those who avoid successful individuals in the industry into which they want to enter, typically don’t want to give up their plans – which is to say their strategies and secrets. So, they make the mistake of being protective of their ideas, without knowing if said ideas are actually good or bad. Small business development groups. There are small business development groups that can help you get some of the logistics worked out and even provide a little friendly advice that you may not have thought of on your own. But, here again, you must be willing to share your ideas with others. Doing so will allow other people to gauge your ideas and their merit. Local industry trade associations. These industry trade associations exist to promote their industry, which is their sole purpose. You’ll learn a lot about the industry, and perhaps your own niche, along with some tricks of the trade and how your competition deals with its challenges. Of course, it’s just as wise to consult someone who specializes in starting and growing small businesses. An experienced business consultant and coach brings a wealth of information and is someone who can not only provide valuable input but also be supportive. Where else do you recommend people starting a small business seek advice? Please take a few minutes to share your thoughts and experiences so others can benefit from your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Feel Overly Distracted? You’re Not Alone and Here’s Why

December 22, 2017 No Comments

You’re busy. No, you’re super busy. People might even say super-duper busy. As usual, there’s more to do than hours in the day. And, your schedule isn’t slowing down. You’ve got to do X before Y and then onto Z. But, you can’t seem to shake the notion you’re not actually get anything done. It’s not due to a lack of effort. However, it can easily be explained simply by distractions. Top Focus Problems People Suffer From Now, there are several things you can quit doing to be more successful. But, even the most self-disciplined individual isn’t immune from distractions. After all, distractions are everywhere you turn. No matter where you are or what you’re doing. And, it’s not just technology. Sure, smartphones, social media, and more are all culprits. What’s more, you’re not alone if you feel distracted. In fact, the average person’s mind wanders when doing a task between 15 and 20 percent of the time. That statistic, according to Canadian researcher Jonathan Schooler. We created the labor-saving devices that catalyzed the unplanned explosion within which we live today. But as enlightened managers everywhere are learning, we can learn to manage what we created. When we learn how to take back controls that we’ve given away, we can get better at managing our attention and not surrendering it to every distraction. —Fast Company Therefore, if a wandering mind is so prominent, what can be done about it? That’s a good question. And, the answer lies in identifying precisely the cause. You know you’re not a scobberlotcher, an idle person who just sits at a desk, twiddling your thumbs. But, you’re certainly not immune to distractions. Distractions break down focus. If you want to improve your productivity, you’ve got to key in on the cause. Here are the top focus problems people suffer from: Lack of sleep. We all know what it’s like to work through a drowsy day. It’s uncomfortable at the very least. So, don’t let sleep deprivation be an obstacle. Get into a routine that helps you to get a good night sleep. Unplug from technology about an hour before you go to bed. And, be sure to go to bed at a reasonable hour. No priorities. Okay, you have an end goal but along the way, there are many, many different tasks. Without prioritizing them, you’re creating a stressful, chaotic situation. And, it will typically result in a lack of focus precisely because there’s little to no prioritization. Give everything a priority and reap the rewards. Stress. Speaking of stress, when you try to multitask, you’re inviting undue stress. Think about it this way, if you’re trying to do more than one thing at a time, would that cause you to feel more stress? Sure it would. So, put your focus on one thing at a time. Lifestyle. Stress is just one factor; lifestyle is another legitimate cause. You can lose focus because you’re not eating a healthy diet. A balanced diet, regular exercise, and more all make focus easier. Plus, you’ll feel better when you have a healthy lifestyle. How do you maintain your focus? What methods do you use to keep on task? Have you found different ways to deal with distractions? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.