Interim executive tips to grow your platform, product or service.
Understanding Network Effects:
You buy a toothbrush and use it to clean your teeth. You got what you paid for. Most products are like this. But in the last decade, a new kind of work is taking place whose value actually increases as the number of people using it increases. Otherwise known as network effect.
Facebook, AirBnB, Uber, and eBay are popular examples of companies that have only grown more powerful and useful as their user base. This is not to be confused with development as it does not always translate to a large network.
Focus on Business:
Seeking to grow quickly, businesses can often lose touch with their existing user base. This is not good before branching out to new markets and cities, focus on increasing engagement with people using your product or service.
If you don’t focus on busyness in the early days, you can grow very quickly and lose your old user base. And so you’re not really focused on products and improvements that help the overall network. It’s very important to focus on your growth, how strong your engagement is and how much of your existing users are serving you. Ready to use more.
Interim Executive Tip: An Access Strategy
Sometimes the best way to develop your network is to use other networks. Integration with social media apps and platforms is great for getting your product out there. Focus on users tweeting or sharing your product. This may just be your ‘something special’.
Not only do we as individuals try to improve our productivity to become hyper efficient, but it is also the goal of any company in any industry.
When your company brings in interim management, you can expect this new executive to implement specific changes to help improve your company’s productivity. Today we will go over some of those changes that you could expect to see.
You would be surprised to hear that there are many companies who still do things the old fashioned way like taking inventory with a pen and paper. Though this method may be “tried and true”, we all can agree that using things like a pen and paper is time consuming. Technology may have a steep learning curve, but the amount of time that is saved with technology is invaluable. Our Interim Executives may implement things such as company-wide communications through applications like Slack or changing the way customer service works through social media.
Becoming More Proactive:
There are some companies who are proactive, and some that are reactive. For the most part, the most successful companies are those who are always proactive. They become the innovator rather than the follower. You may be wondering how being more proactive can improve productivity. A good example to explain this is the stock market. When investors do their research and can find that one under the radar company who had great earnings or developed new product and invests in that company then they obviously will make more on that investment then an investor who invests when that stock becomes more mainstream. Interim management can change the way your company acts to market changes or technological developments by becoming proactive. This “proactivity” can be that one change which not only helps to improve your company’s productivity, but it can also put it in the forefront of innovation.
Not only can interim management help solve your company’s problems but they can also implement new ways of getting things done in your company, which can help to improve your company’s productivity.
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