When we decided to locate our global business services firm in Indianapolis, we had a hint of the possibilities for growth. Now, we are finding out the realities.
In the last 4 months, our firm has taken on several projects that have expanded our geographic and industry portfolio. From global supply chain management to medical device to wine distribution, we have had the opportunity to help our clients develop and refine their business models and execution of those models.
For our team, we have had to evolve our models to become more aligned with the needs of our clients. Many times you may hear the advice to evolve you model according to demographic trends or economic trends. This is not bad advice.
In fragile and prosperous times, I would place a vote for evolving your model to be in tune with those organizations that keep your business in business...your clients. Without clients (read: paying clients), you don't have a business. You have an idea.
How has your business evolved in the last 6 months?
A non-scientific review of Indianapolis business trends reveals that technology companies are growing despite the economy. Now, I'm not selecting the technology industry to suggest that everyone should switch to that industry.
As a business consulting firm, we use technology but are far from a technology company. One of our partners, Dave Castor at Alerding Castor, keeps our team informed about technology.
I just think that other industries can learn from the technology industry. Whether your firm is a manufacturer or a business services organization, the lessons from the technology company can help you.
I could use examples from our company or our clients but I thought I would a share a video clip which prompted my thoughts on this subject. Although David Lawee, VP Corporate Development at Google is speaking about business formation issues related to technology, he presented two themes that resonated with me and probably will with you as well.
#1 - Passion, Partnerships and Speed #2 - Maximize time and people resources
We all use technology in our organizations for-profit and NGO alike. What can you or have you learned from those organizations that create the technology you use?
This morning, I read a press release with title "National Law Enforcement Leaders: Dropout Rates Fueling Violent Crime" issued by an organization named Fight Crime: Invest in Kids.
The global education landscape has many issues. This press release focuses on the issues in the United States. Once again, the pundits and officials have convened to report on a report that high
school dropouts in the United States are less likely to be productive members of society.
The press release speaks to the lost wages and taxes, and the costs for
incarceration. The sad thing is that this is yet another group of
adults that are wasting money gathering data that yields the same
results and trends from a decade ago.
In my opinion, let's stop wasting money on reports and invest (time,
money and skills) in our youth. Too often, we cut the funding or
invest in archaic, corrupt or mismanaged school systems. If these
school systems were corporations, they would be out of business.
The corporate world needs to take action as well. For a sustainable business, you need a diverse a deep talent pool. As dropout rates increase and graduation rates decrease, the talent pool is depleted. One way to help your chances is to include high school internships in you strategic plan implementation.
You might ask what we are doing at S4X to help the cause. We require our employees to
volunteer 1% of annual hours worked. Personally, I am a mentor in the
Starfish Initiative in Indianapolis.
You might want to pay attention if you are not involved. The future of your business is at stake. In the United States, we easily create business solutions yet we have difficulty creating solutions for the education system. What are your thoughts on the education system in your area?
Last week, I had the opportunity to participate in a course at The Fund Raising School course in Indianapolis, Indiana held byThe Center on Philanthropy at Indiana University. You might ask...what does philanthropy have to do with business? In our fast-paced global economy, the two become more intertwined every day. The lessons learned in the for-profit world are making their way to the non-profit world and vice versa.
For instance, the participants of the course were a social entrepreneur in one form or another each with multiple goals for their organizations. In order for social entrepreneurs to achieve their goals, they must understand the demographic trends and leverage business and personal networks to create business solutions and mission-based solutions. Sound familiar? This is the same model applied in the for-profit world. Additionally, as a social entrepreneur you are utilizing some form of a virtual business model. Two of my colleagues in the course were from The Dubai School of Government. This is a not-for-profit public policy institution that heavily leverages a virtual business model including a partnership with the Harvard University John F. Kennedy School of Government. Talk about a international business solution model.
Before the end of the course, I was able to connect with my colleagues from Dubai and a colleague who lives between Chicago and London but is a native of Nigeria. Our group represents a potential global virtual business in the future.
Next time you are involved with philanthropic organization, you might want to pay close attention to the operations of the organization. You may find a useful "best practice" for your business. Who knew the for-profit entrepreneur world could learn from the social entrepreneur by way of Dubai? If you did, you and your organization are ahead of the curve.
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When we decided to locate our global business services firm in Indianapolis, we had a hint of the possibilities for growth. Now, we are finding out the realities.
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