Do you need some guidance on how to maximize your business tools (ie your "tech stack"), increasing their value while simultaneously keeping your business expenses under control? The strategies I outline here will help you protect your profit from your business while also ensuring you have the RIGHT tools to support your work.
In this blog post, we'll explore five keys to unlocking the full potential of your tech stack. From leveraging all-in-one platforms to tracking your subscriptions, these strategies will help you streamline your business operations for maximum efficiency and cost-effectiveness. Whether you're a seasoned pro or just starting, these tips will prove invaluable as you grow and scale, helping you protect your profit while making the most of your resources.
Key #1: Protect your Profit by Leveraging "All in One" platforms
By harnessing the capabilities of all-in-one platforms, you'll not only simplify your tech stack but also save precious time and resources, allowing you to focus on what truly matters—growing your business and protecting your profit. My favorite Multi-feature platforms are Google Workspace, Honeybook, and Wix.
Of course, there are many others, but these are my personal favorites because of their features, automations, and price points, and because they align with the current needs of my business.
If you need a SUPER slim tech stack, leveraging these 3 tools would get you almost everything you need. I have a lot of blog posts on Honeybook and different Google productivity hacks, but I haven't talked much about Wix.
Here are some of the features available with Wix, in addition to the obvious website hosting:
Domain purchase
Contact Forms
Blogs (hi! 👋🏽)
Stock photo library
Social Media scheduling (you can even connect your social messages to link into your Wix Business app so you only need to check one place)
Manage Social Media or Google ads
SEO wizard
Email Marketing (individual drips as well as subscriber newsletters)
e-Commerce
Courses and Memberships can now live in here as well
Each of these 3 tools has so many features that you don't really need much else. If I were to list all the features I get simply from these 3 tools, it would be its own blog post! Suffice to say that between these 3, I have an external way to attract customers, collect leads, and showcase professionalism, create an automated booking flow that nurtures potential customers from interest through the Discovery call, streamline the sales process when signing a new client, and manage necessary files, meetings, and communications.
Key #2: Make Strategic Investments by Tracking your Tech Stack Subscriptions
You're wondering what tracking expenses has to do with maximizing your tech stack while protecting your profit... I hope the answer is obvious. Understanding your operating expenses and when they are due allows you to plan your investments wisely, ensuring you always stay in profit and protect your cash flow.
I put all of my recurring expenses into Airtable so I can check expenses at a glance:
In this way, I can spread out my investments while protecting profit and cashflow.
For example: notice I have 2 Annual subscriptions that renew in February. I will not be making any major investments in February for awhile, if I can help it!!
However, I don't have any large subscriptions in March, August, September, November, etc. Next time I'm ready to make an investment, or am ready to upgrade from a monthly subscription to an annual one, I will do so strategically for one of those months.
Want to purchase this Airtable base so you can plug in your own tech stack subscriptions? Purchase it now for just $27!
Key #3: Eliminate Shiny Object Syndrome by Using the 24-hour Rule
Are you susceptible to the allure of new tech tools and gadgets?
Shiny object syndrome can lead to inflated expenses for tools you don't need or aren't using. The antidote to this is pretty simple, as long as you have some self-discipline: Don't purchase anything on a whim! Decrease shiny object syndrome by being disciplined about what you buy. Remember that good marketing makes you feel strongly that you need something RIGHT NOW, even if you don't.
What does that look like from a tactical perspective? Before purchasing, sleep on it! Evaluate whether the tool is getting you closer to your current goal and whether it aligns with your current strategy. Don't let good marketing take advantage of you! There will almost always be another sale, another special after a webinar, etc.
For example: Two marketing strategies I use are keyword research and social selling. I invested in credits from Keywords Anywhere when I was just launching my blog to ensure I was integrating keywords that made sense for my industry.
More recently, I invested in a lead management tool that includes support from my coach, so I'm not going to invest in additional keyword research at this point - although I may down the road.
Key #4: Decrease Expenses by Committing to Learning about the Tools you Already have
I have Learner in my top strengths, but if you don't, I am sure it can feel overwhelming thinking about learning all the features of tools you have.
First, let's address a mindset shift: Commit to playing the long game. If you know you want your business to be more than just a flash in the pan, or a hobby that makes you some money sometimes, you will want to think about the long-term plan and what will benefit your business most. I'm willing to bet switching between platforms every 3 months is probably not going to serve you very well.
After we decide we're in for the long haul, implementing this becomes pretty simple. Try one of these two strategies.
Strategy 1: Read the emails from your existing platforms.
I know, I know, they send you a million of them! I bet you're not surprised that I have a system for sorting through these emails: 😉
Apply filters to them so they don't clutter up my Inbox and detract from important emails
Set aside 15 minutes or so each day to skim through these emails. SKIM is the key word!
If I see something interesting, and I have the time, I'll read it right there - OR I'll schedule it into my calendar to review later. Use the SNOOZE button in your email to have it pop to the top of your inbox when you're ready.
Strategy 2: Some platforms even have courses you can take to learn best practices and maximize functionality! Choose a season in which you have slower months or less family commitments, and plan to work through these courses little by little.
Remember the old adage: How do you eat an elephant?? One bite at a time. Doing a little bit over ane extended period of time will yield more results than trying to speed through a ton of content in a short burst, because you'll have time to implement what you're learning little by little, and avoid overwhelm.
Key #5: Maximize the features your existing platform already has!
Now that you've learned what your existing tech tools have to offer, leverage that to maximize those features!
For example: before I was ready to launch a website, I hacked some existing tools (Honeybook & bit.ly) to create something that functioned like a website - it helped me look professional, gave me a link to send to potential clients, and helped me collect leads. You can read more about that here!
You can maximize the features of the existing tools in your tech stack in a few ways, but one easy way is to implement one new trick, hack, or feature per week. Ensure that the hack or feature you choose actually makes sense for your business and will create more time and space for you to do other things.
There are so many "one hit wonder" tools out there that you really don't need if you truly find the right platforms and maximize them to their fullest capacity. Once you've taken the time to dig into your existing tech stack, and organized your expenses in a way that is helpful in making strategic investment decisions, you'll be freed up to focus on the reason you started your business in the first place!
If you're still feeling overwhelmed after reading this, let me share a potential 6th Key...
Potential Key #6: Operations Audit
If the idea of auditing your entire tech stack and figuring out what you need and what you don't is overwhelming to you, I have a service designed just for you: my Strategic Operations Audit follows my signature RELIEF framework, leaving you with the clarity and suggestions you need to confidently move forward in your business, maximizing value and decreasing expenses.
Here's a little about the RELIEF framework:
Review and Audit Systems: Conduct a comprehensive review and audit of your current operational systems and processes.
Establish Process Map(s): Create a detailed process map that visually represents your current workflow and operations, including what you are doing manually versus what you can/should automate. Analyze the process map to identify bottlenecks, redundancies, and opportunities for optimization.
Leverage Team Structure: Evaluate your current team structure, roles, and responsibilities. Identify where existing staff may be underutilized or overworked, and provide recommendations for reassigning work that aligns the team structure with the business's goals and optimizing collaboration. *If you don't yet have a team, we'll identify which role would deliver you the best Return On your Investment (ROI).
Identify Priority Projects: Identify and prioritize key projects that will have the most significant impact on your operations. Determine the feasibility and potential ROI of each project, guiding you toward optimal decision-making - using the same Keys I outlined above!
Eliminate Inefficiencies and Enhance Efficiency: Based on the audit and process map, target and eliminate inefficiencies within the operations. Provide actionable suggestions for streamlining processes, reducing waste, and enhancing overall efficiency.
Financial Analysis and ROI Calculation: Conduct a thorough financial analysis of the proposed projects and changes. Estimate the potential return on investment (ROI) for each project, helping you make informed investment decisions.
If this is the strategic support you need, book a free consultation with me today to learn more!
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