Using Technology for Optimization
Leverage technology and automation to boost business efficiency. Learn to identify repetitive tasks, use AI for research, and innovate to cut costs and improve services. Discover how strategic tech investments can save time, increase productivity, and open new revenue streams.
Lesson Transcript
The widespread use of large language models in search engines has given us newfound power to research and analyze data. If you have a question that's been lingering in your mind, turn to the internet for answers. A simple AI powered Google search can provide quick solutions, while more complex queries might just require a few more searches. To optimize your business, you must stay updated on new trends and opportunities.
The breadth of what the internet has to offer is incomprehensible. While some find it daunting and some get lost, the ones that gain an edge know the right places to look and allocate their time to. At Suora, we found great success in automating repetitive tasks. This doesn't mean automating everything, but focusing on tasks that are not unique and can be standardized.
You'll free up time to focus on creative work such as sales, marketing, product improvement, and building team relationships. Avoid automation paralysis by consolidating your automation efforts and tracking systems into as few platforms as possible. Choose a platform that supports all your needs in one place, ensuring your automation processes are streamlined and efficient. We have a database that tracks all projects and their financials.
This is connected to our project management platform where we track tasks. Each platform can speak to one another and inform us and our communication platform of what tasks across the entire business need servicing. Automation should be a tool to enhance your productivity, not a delay to your company's growth.
Identify the most costly aspects of your business, whether in terms of time or money, and innovate to reduce these costs. If there's no existing solution, create one for your company and then sell the benefits to other businesses. This not only advances your business, but also creates new revenue opportunities. Dive deep into your products and services to enhance their uniqueness and value to your clients.
If you're unable to do this yourself, invest in people who can. Balancing innovation with ROI is crucial. Remember that focusing on sales and marketing generates a healthy cash flow, which enables greater time and cash investments into business advancements. Leveraging your investments in physical tech can also generate additional revenue, such as building custom software or pricing guides that can be sold to others.
One of our biggest challenges at Suora was green screen keying 4K files at scale. This process was incredibly time consuming and occurred every time our most profitable product was sold. After discovering that outsourcing this task was prohibitively expensive, we turned to technology and our own blood, sweat, and tears for a solution. We spent long hours figuring out how keyers utilize computer hardware and learning how to build computers with GPUs specifically designed for the task.
Despite being an Apple-centric team, we added windows to our arsenal to get better performance at a lower cost and with greater scalability in the future. We tested every green screen keyer on the market, all nine, and learned about CPU and GPU utilization, leading us to a Hollywood level compositor called nuke. This tool is more efficient and utilizes our fancy new GPU, but it had a steep learning curve to save even more on time and limit rendering errors.
We implemented a Python script to automate the file setup process, reducing our green screen keying time from a week of work and processing to a maximum of two days. This innovation not only solved one of our biggest pain points as a working team, but also significantly increased the efficiency of delivering one of our most profitable products. It's a testament to how technology can be a powerful tool in enhancing business value by saving time and enabling growth in new areas.
Embrace technology as a tool to help you save time on most of your current costs and tasks. Amplify the work you're able to complete in any given hour, and differentiate your business through product or service enhancement.
Test Your Knowledge
Which of the following is NOT mentioned as a benefit of automating repetitive tasks in your business?
A) Freeing up time for creative work
B) Focusing on sales and marketing
C) Building team relationships
D) Reducing the need for skilled employees
D) Reducing the need for skilled employees
What is the recommended approach to avoid automation paralysis in a business?
A) Implement as many automation platforms as possible
B) Consolidate automation efforts into as few platforms as possible
C) Automate all business processes without exception
D) Avoid automation altogether to prevent complexity
B) Consolidate automation efforts into as few platforms as possible
Which of the following best describes the recommended approach to using technology in a small business?
A) Use technology to replace all manual processes
B) Avoid technology to maintain traditional business practices
C) Embrace technology as a tool to save time and amplify work capacity
D) Implement technology only when competitors do
C) Embrace technology as a tool to save time and amplify work capacity
When considering automation in a small business, which of the following is the most important factor to keep in mind?
A) Automating as many processes as possible
B) Choosing the most expensive automation tools
C) Avoiding automation to maintain control
D) Focusing on tasks that are not unique and can be standardized
D) Focusing on tasks that are not unique and can be standardized
Investing in technology to solve specific business challenges can lead to increased efficiency and profitability. (True/False)
True
The primary goal of using technology in business is to replace human creativity and decision-making. (True/False)
False