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The terms entrepreneur and enterprise both derive from the same French verb “entrependre,” meaning “to undertake, seize.”
A go-to-market strategy for any innovation involves making choices about which customers to target, what technologies to apply, what their organizational identity will be, and how to position the company against its competitors. This is obviously an over-simplification of what it takes to establish and operate a successful business, but you get the idea.
In today’s world, business owners must operate with innovation at the forefront, forcing traditional business owners and industry up-and-comers to adopt an agile approach to business. In short, all business owners looking for longevity are adopting an entrepreneurial mindset.
According to Harvard Business Journal, many entrepreneurs, operating in the fog of uncertainty, worry that exploration will delay commercialization, and ultimately overall profitability. Going for the first practical strategy that comes to mind, entrepreneurs deride the deliberate planning that accompanies careful strategizing.
When it comes to selecting the appropriate technology, entrepreneurs should choose the strategy that aligns best with their venture. I give you Enterprise Resource Planning (ERP). ERP is a business process management software that manages and integrates a business’s financials, supply chain, operations, reporting, manufacturing (if applicable), and human resources activities.
In the past, businesses had some sort of accounting, finance, or HR process but the software systems they had often worked separately and didn’t “talk,” or work with one another. What makes modern ERP software different is that it brings all these different processes to the table to collaborate and create one fluid system.
Most companies have some form of finance and operational system in place but most of the software that’s out there can’t go beyond everyday business processes or help with future business growth. Implementing an ERP system from the start eliminates the need for a major, expensive ERP overhaul as your company begins to grow and scale.
An ERP solution doesn’t have to be an all or nothing implementation proposition. Software modules can be purchased separately depending on your business needs. This will help your team ease into the implementation piece of ERP and it’ll save having to invest in a major software renovation and migration of historical data, both of which can become complicated and expensive. Investing now will save you in the long run.
Call us today for a FREE business evaluation and ERP recommendation.
The post You Can’t Spell Entrepreneur without ERP appeared first on Bond Consulting Services.