5 Ways to Keep Your Business Profitable With Value Creation Automation

Stay lean! Stay profitable with Value Creation Automation! Your business doesn't stand a chance of succeeding in today's tough corporate world if you neglect process improvement tools. Many focus on the big picture and forget about the minute changes that can invariably improve productivity. So begin with a more focused approach and work outwards. Technology such as Value Creation Automation can enable your business to operate efficiently and give you the required edge to keep afloat.

The first step to improve overall workflow efficiency is embracing business automation technology. If you take a look around, you'll see plenty of off-the-shelf solutions which promise to automate and improve. But do they integrate? Do they give you complete control? The answer is no. Value Creation Automation gives you unimaginable control and aims to facilitate every functional aspect of any running organization. Why spend a fortune on multiple solutions and still feel the need for manual control when you can have an all-in-one technological solution?

Business Automation functions simply and effectively. To make it easy for anyone to understand, take a look at how VCA can boost business profitability:

1. Stop wasting money on unnecessary manual tasks

Human intellect is incomparable, but also very expensive, and we shouldn't forget the probability of error which comes along with it. To run a business successfully, you need to think smart and act smart. Start by automating rote tasks with business automation. With Value Creation Automation, all rote tasks are automated and controlled by the system. This means you can save up on labor costs and additional expenses that come with a high manual-dependent workflow. When you are saving costs, you are adding to your profit margin.

2. Take control of resource being wasted

In any business, resource and material wastage is a common occurrence. You may not be able to exactly identify when, how and what resource went as waste. It is difficult putting a cost tag on delays, bottlenecks, idle workers etc. But what if Value Creation Automation gives you the power to see and control all resource wastage? VCA implements continuous checks on all task activity to identify waste in real-time. This means you can exercise more control and narrow down on resource wasting activities that are taking a toll on business profitability.

3. Delayed information? Not with VCA!

Information and data are the secret keys to business success. As a business that aims to succeed, it must stay updated with all information coming in. Data collection may not seem too tough, but analyzing and extracting useful information from tons of data is the real deal. Multiple organizations have hired data experts to manage large volumes of incoming and outgoing data. Whether you need information regarding consumer changes or you want to find out more about employee productivity, having information available at your fingertips is a must-have. Value Creation Automation analyzes company data in real-time, giving you updated figures every second of the day. With VCA, you don't have to worry about sending in requests for reports or statement.

4. Your customers want quality, give it!

Maintaining consistent product or service quality levels is a tough challenge. You can't measure every unit's quality level or standard manually. Even with so many quality measurement tools out there, the probability of defects remains. On the other hand, Business Automation diminishes your need for externally implemented quality measurement methods. The system is designed to consistently measure every output at task level against defined standards. This means you can detect low quality output before it reaches the delivery stage.

5. Innovate, evolve, innovate, evolve!

You can't beat competition if you aren't innovating. The market is changing rapidly which means you need to keep up with the required changes, or you'll be left behind. It's always the innovators who set the trend for improvement and success. As a business, you need to flexible and adaptive. Value Creation Automation can be your key to faster innovation and implementation. Most automation solutions prove inflexible and require massive investments when it comes to upgrading. Value Creation Automation can automatically detect variations in processes and alert managers of needed changes. Whether its excessive productive or changed quality demands, VCA gives you the power to reinvent and implement ideas in real-time.

So far Value Creation Automation works is giving businesses the tools needed to boost profit margins and increase overall performance. Lean and Six Sigma are among the few major management approaches embedded into the system to function with excellence. Fewer wastages, lower costs, increased output and quality, all lead towards a significant boost in profits. VCA is far from a regular technological solution designed to facilitate common business functions. Rather, it is a complete solution which holistically combines and automates entire business workflows for superior performance and scalability. The future of automation has arrived with Value creation Automation.

Top 5 Management Mistakes

Like everyone else, managers also make a lot of mistakes. Making mistakes is everyone's right. However, learning from one's own mistakes and learning from others' mistakes is essential. Here is a list of the top 5 management mistakes that managers need to avoid…

1- Failure to Prioritize

Making every task a priority is a big mistake. Prioritizing effectively and focusing on a few tasks allows the manager to create more impact for the time spent. Research has shown that most managers focus on easy-to-do things first to avoid pressure and stress. But it is vital to have a laser-like focus on the issues that matter the most and sort these out first.

2- Applying Inflexible Policies

There is no such thing as a company policy that can serve all situations all the time. Company policy should be seen as a guide, not the last word on the matter. It is best to be flexible and apply common sense when it comes to dealing with staff and particularly when dealing with customers. No customer wants to hear the supplier telling them “oh sorry I can't help you; it's company policy“.

3- Hesitating to Share Information

No one is advocating sharing sensitive or confidential information as that would be tantamount to stupidity. But many managers think that sharing information should be restricted to as little information as possible. This is dead wrong. Managers need to err on the side of communicating and sharing information as much as possible. This builds trust and credibility. It is always better to over-communicate than to under-communicate.

Another way to think about this is to be more “direct” and upfront rather than being “cagey” in the way one communicates. I have always found – with few exceptions – that being direct is much better than all those “sandwich” approaches where you say something positive, something quite the opposite and then positive again.

4- Micro-Managing

Micro-managing is a sure-fire way of discouraging employees. Giving the team members a significant degree of latitude in the way they work and the decisions they make is empowering and motivating. Delegating without constant oversight whenever possible is also good for overall productivity of the team.

5- Not Accepting Overall Responsibility

The reality is that most managers when confronted by their own bosses on lack of team performance will allocate blame to their subordinates. It is part of the territory when one is a manager to accept overall responsibility for failure. It is this ability to accept responsibility that creates trust and respect.

Are You Running Your Business or Is It Running You?

If you're running ragged and feeling like you're at the mercy of your business, then your business is running you.

Before you go off in a huff, here are some signs that your business might be the one in charge:

  • You don't think you can take any time off, whether it's an afternoon or a whole two weeks.
  • You frequently start sentences with, “I have to ________.”
  • You also frequently say, “I'll just do it myself. It will be faster and easier.”
  • You have no help, no VA, no team. And you say the main reason you can't get help is because it will take too long to train someone else to do it.
  • You don't have a clear sense of your numbers: how much is coming in, and how much is going out.
  • You think in terms of “I can't afford it” or “My business isn't making enough money.”
  • You think you're supposed to know how to do everything.
  • You react in the moment – on a daily basis. You respond to emails that came in this morning, you do the client work before your own, you write the promotional email that's supposed to go out today.

You do know that it's not supposed to be that way, right?

You probably started your business for all sorts of reasons, and they probably all have something to do with freedom and flexibility. Freedom to run your business the way you want. Flexibility to work when you want. Freedom to travel and provide wonderful things for yourself and your family. Flexibility to do only your Zone of Genius work and let someone else do the work in the other zones.

And most business owners and entrepreneurs get to the point where they feel chained to their business, more so than at any corporate job they ever had. So, if that's you, just know you're not alone.

AND… you have a choice. You can do things differently.

You can run your business, instead of it running you. Here's what that looks like:

  • You take time for yourself and your family. Your business works around you.
  • You have support in the form of a VA or a team.
  • You have systems in your business, and, better yet, many things are automated and running behind the scenes.
  • You do not do everything yourself. (See the two points above.)
  • You pay attention to your business and the story your numbers tell you (revenue, expenses, key performance indicators).
  • When you budget or spend money, you think in terms of investment and moving the business forward. That puts a completely different spin on expenses.
  • You have a coach, mentor, mastermind, or accountability buddy – or all of the above. You know you can't do this all by yourself.
  • You plan ahead and think in terms of the big picture. You are proactive, and not reactive. You work on your priorities before you react and respond.

So, how do you move from your business bossing you around, to your being the boss?

Part of it is mindset. You have to choose to be in charge. You have to choose to make your business a part of your life, not the whole pie. Start taking time for yourself. Plan vacations. Don't feel like you have to respond to an email within five minutes of receiving it.

The other part comes down to systems. That means you have to have systems. Next, is getting support, whether that's a VA, team, coach, or mastermind. You have to do things differently, and you may need some guidance on how to implement the different ways of doing.

The result at the end of the rainbow? A business that serves you so that you can serve the world.

Seeking the Best Capital Investors

Business is the main block of success, wealth and fame for society today. If one has great business acumen, they can succeed easily in any kind of business they venture into. All it takes is one brilliant business idea to spark off a trail of success, but many of these creative consumers lack the finances to kick start their business venture. Hence, it is important to seek out capital investors who are willing to fork the necessary money to propagate the business.

Sources of investors

There are many sources to capital investors who may assist in making an entrepreneur's dream come true. Closer to home would be families and friends who have the money to lend if the entrepreneur does not have their own funds. These familiar sources can offer interest-free loans or be a minor investor in the business set up. Family members may choose to be directors in the business with a voice in its operation. There are many ways in which familiar sources can function in the newly formed business.

Those who cannot borrow from familiar sources may seek a bank loan from banks or other financial institutions but the interest rate and loan conditions may be quite stringent especially if the business venture fails or does not take off as well as expected.

Venture capital firms

Another alternative of capital investors would be to seek the resources of an established and reputable venture capital firm for some equity funding. Business owners prefer securing equity funding from reputable venture capital firms as the funding conditions may be more attractive than that of a bank loan.

Venture capital firms are in the market to make money from those who have creative business ideas with no finances to materialize their business ideas. But these persons are not parting with their finances only; they are also co-owners of the business. They are not mere creditors waiting to collect their interest and paid up capital. They have a strong interest in the long term development of the business.

Steps to take

The role of capital investors by venture capital firms is crucial; hence, it is important to seek the best venture capital firm to be appointed. There must be a solid business plan with attractive investments over a certain period of time that would entice the preferred capital firms to be capital investors to the business in mind.

Business is the main block of success, wealth and fame for society today. If one has great business acumen, they can succeed easily in any kind of business they venture into. All it takes is one brilliant business idea to spark off a trail of success but many of these creative consumers lack the finances to kick start their business venture. Hence, it is important to seek out capital investors who are willing to fork the necessary money to propagate the business.

What’s Venture Capital?

Your basic knowledge of capital, in terms of business, is that it is the seed of any negotiations. It is the fund used for you to start the wheel of money that your business would run through. You would need it to find your business a good office space, buy office supplies, hire your pioneer staff and develop your product to be offered to your market.

But capital is not an easy object to get your hands on, you can be sure of that. There are a lot of sources but these are not lax in terms of releasing their money over something they are not sure of. Of course, even if you are the one who has the means to invest you would definitely prefer a business proposition that sounds strong and is foreseeably stable.

One particular way of obtaining funds for your business is through venture capitalists. These are companies who are financially stable and who are willing to take risks over funding potentially good startup businesses. Your business, if it has enough potential of eventually growing and becoming at par with the bigger economic players, can also be considered qualified for a venture capital. In essence, venture capital falls under private equity or the securities that envelope a business that does not run on stock exchange rates.

You may consider applying for venture capital as another form of securing a loan from a bank or a lending institution. But the difference is that in securing a loan, you would have to pay in the same form as you have acquired it-usually through cash. On the contrary, when you apply for a venture capital what you give in return is a considerably controllable portion of your business. For example, you give a quarter of your business over to the company willing to invest in your venture. This means that in most of the major decisions you would be making for your business you would have to consult as well with your venture capitalist.

Venture capitalism is a complicated way of acquiring enough funds for your startup business to launch. It is but a game of the powerful and the hungry who both want to win in the rigorous cycle of business. But it is undoubtedly beneficial not only in financing your business but also in realizing its potential based on the assessment of your venture capitalist. This is needed for your small business to gain profit.