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One of my favorite business books is called Scaling Up by Verne Harnish.
In the book, Verne mentions that to grow a company, you need to really get three core things right.
- Develop leaders that can predict, create repetitive processes and delegate.
- Create scalable infrastructure using technology.
- Create a marketing system that works.
Great leadership is a learned skill that will always require significant training and practice.
The other two though can be accomplished today using software.
In most venues and hotels, the software is generally outdated.
One-time market leaders built software in the late 90’s and early 2000’s and continue to sell the same applications today. Sure, they are cloud based, but their interfaces and functionality haven’t kept up with modern technology in the slightest.
One interesting thing we noticed at our company is that it’s not their fault. It’s actually most likely not realistic for them to change their software now. They have written millions of lines of code and have now become victims of their own success.
That was okay for the past 20 years, but now, there has been a fundamental shift that is changing everything:
Technology has become an ecosystem.
Technology companies in the past were rewarded for being generalists and for doing an “ok” job of everything in their closed-off systems.
Today though, there is a better way. This is through the concept of a platform.
A platform is basically an ecosystem where various applications can plug together seamlessly.
This means that your venue can now take advantage of the following:
- The world’s very best dashboard app
- The most comprehensive accounting program
- The smoothest automation systems
- Phone apps that help you manage processes on the go
- The best communication tools available and more!
Since the world is always changing, your software should also be able to quickly adapt to change.
This is why an ecosystem is crucial if you want to follow Verne Harnish’s tip and create scalable infrastructure and marketing that works.
As new companies continue to iterate and build technology at an exponentially faster pace (Moore’s Law), you can definitely expect there will be better versions of just about everything you are using today in the very near future.
When you use programs that are by nature designed to be closed off from the rest of the world, you limit your business in every area.
Instead, to gain a competitive technology advantage, you need the ability to change quickly, at any time, to whatever you want to use.
This is the new way of doing business and the way the world’s most innovative companies operate.
Is there a new way of tracking events that’s never been seen before? Great! Connect it with a couple of clicks.
Is there a new dashboard application that puts everyone on the same page and tracks KPIs like a dream?
Awesome. Push a button and start using it.
This is the future.
That’s because the one thing we know for sure about the future is that there will be change. Having a system that can readily adapt is the only way to prepare for advances that we know for sure are coming but aren’t here yet.
The key to an unfair technology advantage is to position yourself so that you are able to take advantage of this new technology in the first place.
We recommend an ecosystem that easily connects multiple programs to one another.
Its foundation should be sales and marketing since that’s the core driver of any business. Then, through various modules you can add on event planning, catering, staffing, customer service and more.
The ecosystem should have an open-API and a Zapier integration so that other programs can easily connect and push data back and forth with no complicated coding involved.
Event Temple is the only software platform like this in the hospitality industry able to do this today and with our open eco-system we will give you the ability to readily adopt new technology and innovation for many years to come.
Interested In Learning More?
Contact us at: www.eventtemple.com
About Event Temple:
Event Temple is the hospitality and venue industry’s first cloud-based platform. Our central hub is perfect for managing sales, marketing, events and scheduling.
Our system also integrates seamlessly with thousands of other programs through our open API and Zapier connection so you can build your own hospitality-based operations system using the world’s leading software and still manage everything from one place!
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