… exceeds customer expectations.
One measure of a healthy company is the percent of revenue that it generates from new business initiatives. In general, a healthy business generates roughly 20-30 percent of its revenue from activities that are less than 36 months old. Does that apply to you? If not, then you might be falling behind. This is especially true today when product life cycles are shorter and waves of disruptive innovations come from the blue. To combat this, scores of companies strive to change. That’s right: They willfully add something new to their businesses in order to stay current.
New York-based Computer Resources of America has been in business for more than 25 years. From humble beginnings as a printer repair company, it has grown into a highly respected managed services provider, cloud services broker and technology consultant. In 2017, it was recognized by Microsoft as the Azure Partner of the Year. Today, the company is advising clients on everything from blockchain to artificial intelligence. And it’s making deep inroads into health care, real estate and other vertical markets. Throughout its tenure, Computer Resources of America has managed to stay hungry, keep moving and try new things.
Not every new thing companies try, of course, succeeds. Writing for the Harvard Business Review, Innosight thought leaders Scott Anthony, David S. Duncan and Pontus M.A. Siren conclude the following: “A new growth effort might, for instance, involve targeting a new customer set, working on an unproven technology, interacting with new partners, and trying out a new revenue model. If the probability that each of those four areas work out as planned is individually, 80 percent, the overall chances of success are just 40 percent.” While that might sound like a good reason to sit still, it isn’t. Change is as natural as it is inevitable.
A lot of organizations boast that they treat their workers “like family.” But some really mean it.
Take 360IT Partners of Virginia Beach, Virginia. Company founder Martin Joseph was so grateful to several of his employees that he gifted a percent of ownership in the company to them. As a result, his core team has stuck together and helped to build the company into one of the most successful MSP organizations in the area.
Then there’s Intrust IT. The company’s employees not only work together, they also vacation together. The Cincinnati IT Support has a company-owned lake house where employees and their families get away and spend some down time. If that sounds a tad too close for comfort for you, then note the results that close cohesion produces. Take customer service. Intrust IT is so proud of its record of customer service that it posts its satisfaction score on its website on a monthly basis. The trust and confidence that company owners have in their staff enables Intrust IT to offer a $1 million guarantee “that no ransomware attack will go undetected and cause irreparable damage.” You cannot take that kind of risk if your payroll is chock full of 9-5 workers. But you can when your employees treat the company, and its customers, like family.