Economics (Debt)

Environmental Factors

Political Factors

Technology

Social Factors

The series taken as a whole should help you define the answers for your company to these nine questions:

The Opportunity

For many years, companies have devoted more than half of their capital budgets to information technology, and have acted under the simplistic assumption that ‘improved information’ results in increased productivity. The same companies have not based their computer investments on careful calculations of returns or added value, but rather on cultural and political concerns. Successful information systems must focus more on relationships and interaction than on the information itself.

The Solution

Tomorrow’s strategic technology investments will present more choices for organizations than they will know what to do with. Companies will be able to set up the technology that best fits their organization rather than the other way around. The value that organizations gain from these investments will depend on the foresight and intelligence that go into determining how their people will use technology.

There is a cliché that goes something like the following: If organizations only had greater quantities of cheaper, faster, and more useful information, they could increase their profitability and enhance their competitive positions in the global marketplace, etc., etc. On the surface, that seems to make sense. If you offer employees greater quantities of better information more quickly and at a lower cost, you should reasonably expect their performance to improve as a result.

Although in many situations where better performance resulted, even the improved information access often had little or no impact on people’s behavior. Most of us are aware of the risks of smoking. Yet millions of people still pick up the habit. Though there should be strong links between information and behavior in the enterprise, the real problem most executives face isn’t inadequate information, it’s the organization’s unwillingness to change behavior in the face of good information.

On an industry-wide level (micro level), some companies get strong returns on their digital technology investments. What seems true, however, is that on a macro level more money has been wasted on computerization than has been created.

No one denies that computerization and networking can add enormous value. But when we look at the numbers, it is clear that companies are not basing their computer investments on careful calculations of returns or added value. Other factors such as culture, politics, fashion, and competition also come into play. Best-practice methodologies often are irrelevant benchmarks for many companies investing tens or hundreds of millions of dollars in computers and networks.

There’s a fundamental difference between managing an information system and running a business on information, just as there’s a difference between operating a rivet gun and making airplanes. Managers intent on establishing technical systems subscribe to different values and practices than managers trying to set up productive business environments for their workers. Operating a business on information has a much broader array of interaction and interdependence than managing an information system.

When managers try to fit inflexible, mechanistic systems into organic contexts, they need new vocabularies to explain how people in organizations really use these systems.

Indeed, the word information loses its edge when redefined in business contexts; culture and politics and relationships may generally become at least as important.

Does the organization want to use its networks to centralize or decentralize responsibility? Does the enterprise want to make every bit of data accessible to everyone all the time? Or does it want to build a new information-access hierarchy into its intranet? Should individuals be rewarded for sharing information? Should people be encouraged to strike up electronic relationships with employees in other departments? Or should interdepartmental fraternization be deemed an inappropriate use of the network? For now, these rhetorical questions provide food for thought, however some of us encounter them in our daily business lives.

Conclusion

If an organization does decide to improve the way it shares information, it should focus first on changing the culture of sharing. Most information managers know little about designing incentives for enterprise collaboration, much less invoking it. That’s why responsible information departments have to insist from the beginning that effective enterprise computing and groupware don’t depend on transparency, replication, and semi-structured databases. They depend on how individuals are rewarded and punished for sharing and withholding information. They are about behavior, culture, and politics.

It’s here to stay and if anything, methodically advancing forward and providing us with so many opportunities we are sometimes overwhelmed to the point of confusion. Technology is what we are talking about.

Yet, most people don’t even take advantage of the technology they currently have. Technology has changed the way we live. The key is to remember is that technology is a tool, which we can use and control. If you are one of the many people who are dazed by the exhausting array of technological gizmos let’s take a step back and look at the basics of this “techie” thing.

1. Use what you have: The object of technology is to help you do things more efficiently so you can increase your effectiveness, productivity and profit. Don’t be afraid of technology…instead take full advantage of the technology that’s in your life already. Are you using all of the features of your cell phone or your office phone? Can you program your VCR so you can watch exactly what you want and when you want to watch it?

2. Choose your computer and software: When you are thinking of buying or upgrading your computer or software here’s the best way to make sure you get what you really need. First, list everything you want your computer to do. Talk to others including friends and business associates to find out what computer they are using and why. Read some computer magazines for the reviews and ratings of various computer companies, products, software and services. Decide which software you will be using and choose your computer based on the software you will be using. Now, you’ll know you are getting right computer for you.

Laptop or Desktop: This choice, like many others pertaining to technology, has to do with what you want and need. If you want to bring your data into the field and use your computer on presentations a laptop is essential. In reality, however, very few of the Mortgage Professionals I know who bought a laptop to do presentations are actually using them.

My idea is to use both. You can bring a laptop; use it for some of your visuals or just to show them that you are “hip” to the latest “tech” stuff. If you are part of a company that has their own digital presentation you’re all set. The extra cost of a laptop makes sense if you use it to do business away from your office. If not, you can save a bundle and have a great computer from one of the many reputable vendors out there. One thing I did learn a couple of summers ago with many power outages caused by hurricanes hitting Florida, was that my laptop enabled me to stay in business by simply moving it to a temporary location that had power and internet service. It’s amazing how many people will allow you to hook-up for a short time to check your email and conduct a little business. This inherent backup capability has convinced me that I will always have a laptop.

3. Using the old and the new: Your computer gives you access to an incredible amount of information but you don’t want to lug it around and boot it up every time you’re looking for a phone number. What’s a Mortgage Professional to do? Use your contact management program to store your names, phone numbers, wants, needs, etc. Then print a hard copy report of your calendar for that day and to-do list with appointments etc. During the day, make notes on the report and when you get back to your computer, be sure to update the file reflect the changes you need. No need to throw out the old when you bring in the new.

4. Saving time using technology: The other day I generated a mailing to over 1000 customers and prospects. This simple task would have me taken days for me to accomplish had it not been for my computer system. And yes, I do have an expensive laser color printer as a part of my home system. Balance your system with the peripherals you need to fully utilize the information you have collected.

5. Create your Web presence: You can easily promote your business on the Web and know that people around the world will have access to your services. It’s because the internet gives more people access to more “stuff” than any other forum in the world. Make sure you tie your personal website in with your company’s site if at all possible. The search engines will find your web site and so will your potential customers.

6. Money management: One aspect of the “business” world most Mortgage Professionals neglect is money management. Using a financial program will help you in three powerful ways. It will give you a faster way to do your banking and pay your bills. This will save you so much time and energy writing checks, balancing your accounts etc. In addition you will easily track your spending, assets, debits and bills plus create budgets, projections and scenarios for your monetary future. Finally when tax time comes around all you need to do is give your accountant the information or import it into one of the tax preparation programs.

Technology covers so many aspects of our life. For you, the key is to focus on the technology in your mortgage business and maximize your benefits. You’ll find that with a little determination and effort you can reap some great technological rewards.

If you are like most consultants trying to devise Information Technology business plans, you probably are aware of the idea behind Virtual IT. However, you most likely are not using it to its full advantage as part of your philosophy of solving your clients’ biggest IT business problems.  

The following 4 tips can help you embrace the concept of Virtual IT and build strong Information Technology business plans that will best serve your interests and your clients’ interests.

1. Understand What Virtual IT Means. Virtual IT is really all about becoming your clients’ outsourced IT department. Instead of just selling your customers and clients PC’s, servers, routers, Wi-Fi, cabling and other physical products, you spend your time selecting and designing their networks, looking at business problems, figuring out how to apply the technology to big business problems and bringing all the resources together into one nice, seamless package. With Virtual IT, your firm acts as a client’s part-time IT manager or Virtual CIO. Virtual IT is a convenient, flexible and comprehensive technical services program that gives small businesses access to what they need, when they need it without the financial and logistical burden of a full-time, salaried IT person.

2. Know How Virtual IT Benefits Your Business. Most successful small business computer consultants position their companies as IT departments because of the many benefits this concept provides. Positioning your firm as a true Virtual IT department for your clients helps you retain high-paying, steady clients and build long-lasting relationships. And when you base Information Technology business plans on this important concept, you can provide comprehensive solutions to big IT business problems… which makes your firm indispensable to your clients.

3. Figure Out How You Can Provide Virtual IT to Your Clients. As you build your Information Technology business plans around Virtual IT, you need to incorporate Virtual IT into the services you provide to clients. For you to deliver Virtual IT successfully and profitably through strong Information Technology business plans, you need to know what the opportunities are and what typical Virtual IT solutions look like. For example, what are the traditional types of services that you can sell to your existing and future clients? Which other opportunities exist for you?

4. Remember That Virtual IT Grows Real Relationships. Be sure that you are always continuing to add value to both your existing customers and clients, and new customers and clients. This is what Virtual IT is all about. You don’t just sell the initial network installation, and cross your fingers and hope that everything works. You also can’t wait for your customers to call you. Be proactive and provide Virtual IT on an on-going basis so you and your clients can avoid major emergencies. By providing ongoing Virtual IT services, your business will be more profitable, and both you and your clients will experience fewer headaches. Plus, your clients will be relieved that they have a trusted re for long-term small business IT support.

In this short article, we discussed 4 tips to help you use the concept of Virtual IT to build strong Information Technology business plans. Learn more about how you can get great, steady, high-paying clients through well-designed Information Technology business plans now at http://www.MyInformationTechnologyBusiness.com    

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