Payroll is due next week!

Nothing strikes fear in the heart of business owner like the cadence of payroll when contracts are scarce. This is the primary reason why businesses don’t grow, because of uncertainty around how revenue grows when the number of people in the company increase. This is also why salaries don’t increase, the risk and the money needed to cover payroll when times are tight is the primary decision point for every business owner. Everything that ties payroll to revenue matters and it constrains a business. Is there a way to break that constraint to free up cash flow and rely less on work product to generate cash?

The companies that have grown the fastest, have the most available cash and attract the best employees have been primarily software-based companies. This makes sense for many reasons. Software is an easy to replicate product, it is virtually unlimited in what it can do, and it has the capability of dramatically increasing productivity. With all these factors, it is really the productivity increase that really matters and for many services, it requires more than software to increase productivity.

Machines don’t need to rest, but they do need to think. We have mastered the ability to make machines that do all sorts of tasks, but they have been limited to how we can direct them. Cars increase our speed, but we still need to drive them. Harvesters pick vegetables, but we still sort them. We don’t trust the machines to do the initial or final steps in production and other complex tasks. This has limited our productivity and put us in jobs with more redundant tasks and lower margins.

There is a way out. It is to put a brain into the machine and have it perform tasks with less supervision. When your team can perform 2, 4, or 10 times as much work as they do now that affects your profit margins directly in the right direction. When you take your service offering and turn it into a product, that becomes a game changer for your business.

Transcend Innovations helps businesses turn their business problems into business solutions. Where can productivity issues be turned into productivity advantages? How can you leverage your great customer relationships to provide products that they are excited to see? Transcend can do the heavy lifting to identify the business case, develop the product, and capture the market. Leaving you with cash in the bank. No more worries about payroll.

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