02 November, 2021

Leveraging Technical Talent to Boost Profitability

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Cornering the market with a can’t lose product line is not enough to generate profitability and ongoing growth. Today’s retailers require a highly knowledgeable staff with fresh expertise ranging across product, customer support, digital marketing, finance and IT.

Sellers must hire the right technical talent to manage their business and increase operational efficiency. Having a strong technical team will always improve the chances of success.

Our recent industry study of over 4,000 online eCommerce sellers and 7,000 Cin7 customers gave us critical insights into specific business practices of the most successful retailers.

Let’s take a look at some of the highlights from the report chapter that focuses on the importance of technical talent. The below-graph depicts why technical talent is must for growth associated with operational efficiency.

How a company obtains, shares, and leverages business insights can significantly impact its capacity to grow.

 

How will I know when it’s time to contract with or hire technical talent?

  • Lack of growth and profitability.
  • Feeling stuck.
  • No solid business plan.
  • Feeling overwhelmed or discouraged.
  • Unable to accomplish your business goals.
  • Doubting your skill-set.

If you are facing any of these challenges, then now is the right time to consult with a technology coach and benefit from their guidance.

 

How Technical Resources Can Help Increase Business Efficiency:

Identify Areas of Improvement

Hire coaches and consultants experienced in advising market leading product sellers. An experienced technical advisor can quickly identify improvements to internal processes that result in greater efficiency and profitability. Your technical stack may need additional or more modern versions of important software programs. A forward-thinking technical expert with experience in your specific market or product category can identify the common issues seen in your business and put you on track for expansion. The objective viewpoint of an impartial outsider can help isolate what’s not working for your business and suggest practical solutions.

Regain your Confidence

If an honest look inward tells you that you’ve lost confidence in your ability to manage your business, it may be time to follow the advice of a technology coach. A technology coach or technical hire will directly help you build effective strategies that put your business back on track to succeed and take it to the next level.

 

Question Your Approach

Running your business in a personal vacuum without any unbiased guidance can hold you back. Bringing in technical resources will give you perspective and reveal new options and strategies.

Hiring a technology coach will help you to move beyond the status quo by adopting current, relevant technical solutions that solve business challenges and boost operational efficiencies.

An innovative technology coach can see the bigger picture and plan for the future of your business and assist you in setting some big goals for growth.

 

Getting Unstuck

If you feel stuck – don’t worry! A skilled technical coach will help you figure out where you are stuck and how to overcome any blocks. A coach who combines experience with an analytical approach and creativity will make every effort to get your business moving forward again.

Define Business Goals

It is essential to update your business goals on a regular basis and modify your business plan accordingly. If you’re busy handling day to day business tasks, a technology coach can step in and help you refresh and prioritize your business goals. They will also help you define the tasks you should be focusing on and improve your time management skills.

Providing Accountability

If you find yourself awash in to-dos and days that fly by without a feeling of deep accomplishment, it may be time to leverage an accountability partner. In addition to defining a clear path forward for your business, touching base with a skilled technical coach on a regular basis can keep you on track to accomplish the specific business goals that will add up to greater success.

Coming up with Great Ideas

Increasing the number of people on staff who can bring creative ideas to your business will directly impact its growth. A technical team that stays current with the latest trends in software automation can streamline outdated, manual processes freeing you and your other teams up to focus on their specialties. It may be time to abandon unproductive assumptions in order to pursue more profitable priorities.

Brainstorming and Feedback Sessions

Brainstorming and feedback sessions are essential to developing better business practices. Regular sessions encourage business owners to identify new challenges and come up with solutions. Your technology coach can be your sounding board to hear your ideas and they will share their thoughts and concepts.

Well Rounded Guidance

Everybody needs guidance at some point in life. This is especially true in business. Your technical resources should be able to provide you with advice and business tips. Their input will ultimately help you grow your business and keep it on the path to success.

 

Summing Up

Keeping all these points in mind will take your business to new heights of success.

Check out these success stories included in the recent report-

  • How Meghan Fabulous gave manual business processes an extreme makeover resulting in 69% revenue growth
  • Halkin helps Arms of Eve embrace Cin7

Download our report to read both the success stories in detail!

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