The ProWorkflow solution – www.proworkflow.com is a web based project management solution developed in New Zealand by a tight virtual team. Our servers are in California, the CTO (Founder) in New Plymouth, CEO (Founder) in Rural Christchurch with some staff, and a top developer in Fiji! We’re a tight team and we have focused on process automation so our costs grow slower than sales – what we call a low inertia business.
From day one, we set out to build a global business founded on our low inertia business model. We’ve never just been NZ focussed, it is as easy to reach Los Angeles, London or Levin so why not?
We’ve worked hard to setup automation for trials, sales, support, billing, licensing, client account maintenance and support; leaving our staff free to really talk to customers. The model has run in profit from day one and the organic growth has allowed us to invest revenue back into the business to support top class infrastructure to support our SaaS application.
I’ve been getting some mixed reports from customers about the current economy and stat of business. I thought it’d be interesting to ask my fellow tweeters how it’s affecting them. Here’s just a few of the replies… Click the screenshots to see their Twitter accounts:
Every now and then a comment you say or hear just hits you… I was tweeting away on Twitter and said the following comment:
“Small” is the new “Big” in the global economy. Big is slow, small is fast!
Now I realize that this is a hugely gross generalization etc, but there was some depth to it. Many of the people I talk to in the software realm (many are CEO’s of small/med co’s) are massively feeling the pinch. Sales are down, traffic, expenses up etc. But there’s one thing that stands out. Few of them seem to realize that they have a competitive advantage in being small.
They are able to rapidly change product development, marketing approaches, simplify and automate admin and processes etc.
They’re not so big that reviewing expenses is a a chore, ie: Now’s a good time to review hosting providers, communications providers as they’re not ‘pinned down’ by the administrative and bureaucratic weight of 100,000+ customers.
This is a fantastic time to tweak product or brand focus, trim expenses or change strategic direction. The big players in the market can’t make such changes easily due to the huge bureaucracy, process and resource headaches that follow.
The small can move faster and position themselves better in the market, and the market is definitely changing. Those who don’t adapt will be affected. Small and fast is good!
Firstly, understand that whilst you can control your business to some degree, you can’t control the general market atmosphere. Up’s, downs, good times & recessions are all just a normal part of the swings and roundabouts of business. In the ‘old days’ I used to have a small design business that was affected by market conditions. In the down times, I would stress, panic, chase work and generally lose focus.
After 5-10 years of similar trends of up and downtime, it became apparent that no matter how much I fought, the quiet patches still occurred and revenue dropped. On the flipside, I found during the busy, more positive times that business was good, and revenue flowed. It was also during these busy times that the busyness hilighted the need for good systems and processes. Trouble was though that I had no time to put any new processes and systems in place. I was too busy!
It tome some years to recognize that these periods were actually market trends and not just a result of bad business effort. Look around and talk to business people today and you’ll find that nearly all businesses are in the same economic condition. Almost all are noticing the same patterns, so it’s not just you – we’re in a bad trend.
Here are some simple tips you should consider to help your business run smoother in tough times…
There’s so much talk about recessions, downturns etc that I thought we should all just take a step back, chill, read below and have a laugh. Also, it’s a great way to understand the worlds economic models. This came across my desk today, and it’s pretty much spot on! Economic models using cows! We need one of these to describe different startup business models – maybe I’ll do that…