Rounding out 2020
Can anyone categorically say they’ve had a good year?
2020 has been tough, but what I can say is that for me it’s been a year of reflection and ‘jumping off the hamster wheel’.
I’m a big believer that there’s a silver lining in everything and I am grateful to have had so much more time with my kids, even with the vexing addition of homeschooling!
So, what are the positives for 2020?
From a business perspective, the number one thing that comes to mind is the acceleration of technology adoption.
Businesses around the world were thrown into the fire with employees sent home and technology deficits put into the spotlight.
I cannot tell you how many CEO’s I have spoken to this year who pivoted priorities to digitisation of workforces, operational analysis and health and safety. There was a whole lot of ‘holy shit’ going on and rapid response to changing conditions.
And it’s not over yet.
I am predicting in 2021 much more ‘getting your house in order’.
In our own business, we have completely flipped to ROI-based selling with the understanding that in this current economic climate, there exists two problems for our customers:
- Business owners need to invest in technology to support the changed working conditions, both remote management and acute critical decision making
- Affordability of technology
The second point is a chicken and egg situation. Cash flow can be a major issue right now, but technology is the enabler of not only operational visibility, but efficiency gains.
The hesitation to invest can only be mitigated by a) knowing you will get a fast return on your investment (ROI), and b) you have cash flow friendly options.
The importance of ROI
Let’s tackle the first point about ROI. Rarely do sales reps take the time to work through an ROI with a customer, but it is invaluable.
Not only does the process highlight savings, but also opportunity to improve customer engagement and therefore revenue.
Also, (wait for it) … you get to know what outcomes a customer is looking to achieve, which sets the scene for delivery objectives now and in the future for your customer success teams. Never mind that an ROI can justify the spend!
I am very pleased to report that our sales teams at Next Technik are embracing this methodology for our customers.
We are even going next level with a self-help ROI calculator for prospective customers to dip their toes in the water before having a real sales conversation.
Managing cashflow for new software
On the second point – “Cash-flow-friendly” options. SaaS platforms have historically been a challenging investment for financiers to consider but I am increasingly seeing options to finance software easier to obtain.
Moreover, flattening annual license agreements into a monthly spend is going to help the back pocket, and you might even consider a ‘holiday’ while you are implementing your new technology platform.
Give yourself a break! We are all in need of a holiday after the year that was!
Going into 2021
Going into 2021 I’m not sure yet what lies ahead – I have learned to expect the unexpected and to be flexible in my thinking. Will we ever go back to working in the office?
My husband has adopted a saying which is a cute oxymoron, “I like working from home, but I don’t like living in my office”… I can only concur.
New Year’s Eve will be a bit different this year, but boy oh boy will we be celebrating the world over!
See you on the other side!
With over ten years selling, solutioning and working within the NetSuite Solution Provider community, Tania brings a rare perspective to the art of helping customers select NetSuite as their business platform.
“CEOs get business, they think in terms of leverage and return on investment. Helping decision-makers focus on ROI rather than needs, creates an outcome-based customer engagement that sets you up for a win” ~ Tania Large, Next Technik Global Partner Manager