The New Currency

Times they are a changing! In the past decades, companies believed success was largely based on size. While growth is still important, many companies have untapped “riches” they have yet to cash in on.

1. Relationships: good relationships with customers, suppliers and potential alliances are “golden”. The opportunity to accomplish more by working in partnerships with more transparency to achieve common purpose is on the ways many companies are achieving success today.

2. Time is money: developing a focus for your business and aligning the entire organization to help achieve it allows companies to bring all resources to bear, using synergy and team work to achieve more with less and do it faster. A focused company may do fewer things, thus has more time to do them right, yielding better results.

3. Information: Data has never been more available. Technology affords us the chance to learn things we didn’t know before. Today, at a business meeting I attended, Cliff Illig, co-owner of Sporting KC,  shared the benefits that the team is getting by tabulating information on soocer player/team performance stats, (comparing it to Moneyball for baseball) and the difference it can make for the game. Mr. Illig is a co-founder of Cerner, a company that has built an empire on collecting, analyzing and leveraging data.

How are you “cashing in” on the new currency and using it to enhance your business performance?


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