Your industry’s best practice contains helpful and, possibly, necessary advice, but don’t let it dictate the whole of your business operations. You must take what works best, use it, and disregard the rest. Your business is not the same as others in your industry. If it is, you aren’t doing anything new and you can’t have a unique value proposition. Your profits are in a race to the bottom.
Yet, more often than not, this is what we find businesses first attempt when it comes to technology. The business buys cookie-cutter Cloud services, VoIP systems, CRMs and ERPs because the product name contains their industry and touts, “Best Practice.” The business tries to adapt their processes to fit the product. And, worse, it is all done in an effort to reduce costs in order to keep up with the competition.
This is what the race to the bottom looks like and it’s easy to see how it came to be this way.
Technology is often misunderstood. What is best equates to whatever is Best Practice. But Best Practice isn’t about doing something new; it’s about reducing costs. The industry leader of a technology demands a premium, but the potential return is limited. The technology is already late and it’s greatest value lost to the competition years ago. This creates an opportunity for the cheaper, cookie-cutter products. The savings never materializes, because the implementations grow too costly as one process after another must be changed to fit the business.
Best practice is the practice that works best for your business. Technology is no different. But we are. We help businesses in the construction, legal, and financial industries to adapt and adopt technologies to produce new results. Our responsibility is to position your business as a leader and innovator. Let others learn what is Best Practice from you.