Fatal Mistakes

Think you have all your bases covered? Here are 8 Fatal Mistakes that businesses make that costs them thousands in profit.

Damaging Tendencies

8 Fatal Mistakes that Businesses make when selecting a Technology Partner that costs them Thousands in Net Profit

1

Lack of Constant Innovation

When choosing a company to create a product that represents your business, it is important to make sure the company values it as much as you do, if not more.  Constant Innovation is necessary to stay above in your industry, if evolving doesn’t take place your business will eventually fade out from the rest.

2

Not Thinking Long-term

One crucial point of thinking strategically is thinking long term.  Your technological product is your business, which means thinking long term is vital to survive.  Thinking strategic is about having a multi-dimensional view to create a clear, defined outcome.  It’s about working for the long term effects, being aware of the market dynamics, understanding the problem from the core, planning for the worst, and aligning technology with business outcomes, needs and constraints. Businesses who fail to view a problem in all its complexity and/or identify ALL, if not most of its effects are setting up the technology to fail. No one has a magic crystal ball but thinking strategically has measurable impact on the likelihood of success.

3

Cheaper Is Not Better

Businesses often go for a cheaper product thinking that it will be better in the long run.  However, that is hardly the case.  We have heard countless stories of businesses having to have paid 100’s of dollars to make simple changes on their websites.  Additionally, with DIY websites there is almost always a catch and businesses end up paying premium subscriptions to have a ‘below standard’ product represent them.

4

Failure To Communicate Your Processes

Time and time again businesses choose companies that fail to communicate and manage their process efficiently.  It’s important for businesses to have that communication at the beginning and throughout the process of the product development.  Physical meet ups allow for a clear understanding of what both parties thought process is. These meet ups allow for both the business and the company to work hand-in-hand to develop a product that is worthy to showcase your business’ identity.

5

Engaging Multiple Service Providers

Finding one stakeholder that can provide most – if not all – of the services you require, benefits the business more ways than one.  Hiring multiple service providers unnecessarily can create trouble and miscommunication that could have been avoided. Not only do the service providers have to communicate with you but they must communicate with each other and all be on the same page.  Having multiple service providers means having multiple billing, the cost would continue to increase; whilst having one service providers would be able to consolidate those costs and turn them into savings.

6

Ignorance Of The Product Lifecycle

Often businesses and companies do not value or think about the full lifecycle of their product.  More than likely, they will pay for an application, website, or whatever their product may be, but are apprehensive to spend more money and/or time to sustain it.  This fear of putting more effort and time will ultimately be the downfall of the product, as it will hinder the product from being an entity.

7

Not Building For Market Needs

All these factors can take place, but for the product to be a success it needs to be deemed worthy by the target demographic to achieve its purpose. The users need to be within the development process, having face to face understanding with the developers, testing out the product, to make sure that it fits their needs and understanding.  The product could be amazing, but if it’s not designed or developed for the user group it was intended for, it won’t succeed.

8

Choosing Service Providers That Are Allergic To Admitting Fault

During the process of development there will be times where the service provider will have made faults. What is important though, is that they admit to them.  It’s a time-wasting exercise of quarrelling with someone who won’t back down and simply admit fault.  What people fail to realise is that it takes a strong person to admit fault and move on with the process. In return, this creates a stronger relationship and builds trust and transparency between the business and the service provider.

HOW MANY THOUSANDS OF $$$ HAS YOUR COMPANY LOST BY NOT BEING PROPERLY EDUCATED BY YOUR CURRENT SUPPLIER?

Our promise is to create an open, collaborative environment which avoids these mistakes and strengthens  your position to extract real results from your use of technology and maximise its value.

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