Do you ever stop to reflect on the words you might mutter in meetings, or confidently tell colleagues? Seven of those words sound so simple, so harmless, and yet you’ve probably been repeating them for years with no thought to just how damaging those words could be…
“We have always done it this way”
They might seem innocent and harmless, however, those seven words are limiting you from growing your business. They are holding you back from questioning the very way you are doing things, from improving, innovating and driving your business forward to compete in the ever-changing business landscape. As a NetSuite Implementation Partner, specialising in Wholesale Distribution, we see it every day – Wholesale Distribution businesses who are too afraid to move on from their old systems and implement something that can help them grow and diversify. The Wholesale Distribution industry is one of the key industries disrupted by new technology; cloud computing, hyper-connectivity, cyber-security, smarter delivery systems (drones etc). It is because of this new technology, that wholesalers are becoming uneasy at the possibility of change. So why are these words “We have always done it this way” holding you back?
Lack of Transparency – business systems that are dated, lack the real-time information that new systems have. An example might be financial reporting. Without the real-time information needed, there is a higher risk of employee fraud, duplicating invoicing or paying suppliers twice. In 2009, Clive Peeters was hit by $20 million employee fraud scandal after a respected payroll officer embezzled money for her own use. This fraud scandal stands as a lesson to other organisations that “directors and senior management need to have confidence that they have systems and processes in place to prevent, detect and respond to instances of fraud.” Having transparency over financials and all aspects of the business will restore confidence in the management team.
You don’t have enough resources to do what you need to do now, let alone something new – a major drawback for some businesses is the fact that they are “understaffed”. Or at least they think so. Most businesses think that they don’t have enough resources to cope with the implementation of a new system. What they don’t understand is that they are currently working in a very manual way. New business systems help automate processes, reducing the need to employ more staff.
What can you do about it?
Businesses are afraid of change. They think the process is too hard, too time-consuming and too expensive. The problem is they are not seeing the cost of the investment for the future. If your business is stuck in a rut, perhaps it’s time to ask yourself a few questions:
Stay tuned for the second half of our “The 7 Words Holding your Wholesale Distribution Business Back” blog.