THE 5C PRINCIPLE

by Riche Atos / January 26, 2021

As a business owner, you’re always dealing with filtering so much information from everywhere, and I can understand how overwhelming it can be. I also know the importance of choosing the right software to use in your business, one that fully supports your needs and solves your problems. While every business is different, the crucial things remain the same, such as hiring the right staff, understanding and catering to customers’ needs, and creating powerful systems that can easily be tracked, replicated, and ready for scaling. All this can be ensured by choosing and implementing the right software for your business. 

Are you feeling overwhelmed choosing the software that fits your business needs? Whether that’s selecting from an inventory management system, a POS, or a CRM, I’m walking you through the 5C principle I have used to help my customers simplify their decision. Wanna know the 5 Cs to consider in choosing the right software for your business? Tune in to the episode and find out!

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Episode Highlights:

02:06 Why choosing the right software is so crucial for business owners

02:54 The first C – Commitment

06:09 The right questions to ask when thinking about your commitment

06:57 The second C – Capabilities

08:14 Knowing what kind of business the software is made for

09:52 The third C – Customization

11:04 Beware of the shiny object syndrome

12:18 The fourth C – Care

13:12 Why investing in the brand is important

14:50 The last C – Cost

14:50 Cost vs return on investment

 15:18 Potential ways of making a return on investment

Quotes:

03:20 “Commitment is a very big one. It is taking the time to sit down to write down, what are the features that your business and your team members need today to grow the business, or what are the features they need to solve the problem and the challenges they have ahead of time.”

07:20 “There isn’t a software that going to be tailor-made for your business, especially today in the day of cloud systems… If you find a software that fits 95, 90% of your needs, even 85% of your needs then it’s a great time to invest in that software and grow with that software, and then fully extend its capabilities until your run out of its feature set, and at that point, you can look for a newer software because now your business has grown and your software needs have changed also.”

09:35 “Understand what are your current needs, what is the need for the future, and what can this software fulfil for you in the near short term and in the midterm.”

12:41 “You as a business owner may or may not have the bandwidth to start rolling out systems, learning from YouTube videos, googling everything that you need to do, or even have your team members do it. It’s not something that they know and they’re probably gonna make a lot of mistakes. So, do look for local support and representation in your area if you’re looking to implement new software.”

15:45“Cost of the software is just scratching the surface. there are many other pieces to cost, including revenue enhancement, that is increasing your revenue, cost reduction, which is how you can reduce cost using the software, and cost avoidance – avoid the costs completely which you may have or may have in the future.”

There you have it folks, the 5C Principle, and I hope you’ll use the 5C principle the next time you’re looking to make a software decision in your business.

Thank you for listening! I hope you enjoyed this episode and I’d love to hear your feedback. You can email me at hello@elevatedentrepreneur.fm and help me improve or if you have someone in mind that would be a great guest on the show, feel free to recommend them via email.

If you liked the episode, I appreciate you leaving a review on iTunes as it helps other entrepreneurs to find the show. You can also share the episode via Facebook, LinkedIn and Instagram and tag someone who you feel would benefit from the podcast!

Thanks and lots of love,

Dhiren Bhatia

 

  • Episode Transcript
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