A few weeks ago, a friend of mine said to me, “success never ends, it’s only cut short by death”. We had been talking about “work-a-holics” and why such people feel a need to devote their lives to their work. We had concluded a lot of it is because of a need for success. They feel a longing for a challenge and a need to succeed. But, for many of these people, this need is insatiable. They succeed at one thing and, almost immediately, look for the next thing to set their sights on. It is for these people specifically, that the chase for success never ends; it is only their death that stops it.
Now take this idea and look at it from another angle, not from the perspective of the individual but from the perspective of a business. For many businesses, their success will be cut short by death; death (or to be less dramatic, perhaps retirement) of its core employees. Businesses that rely too much on its human capital are not sustainable because human capital, while it is important, can be imperfect and inconsistent.
In small businesses human capital is always going to be a core competency. You have to have the right people to build a business from the ground up. But as time goes on this reliance must transition from human capital to automated processes and technologies that promote a self-sufficient business.
Much of the value in human capital comes from their skills and intuition. But what if the CEO of a company, who carries much of the business based on his intelligence and experience, dies (sorry for the morbidity, just trying to make a point). The business will likely die with him or a desperate chase will ensue for someone with comparable skills and expertise (there will likely be few options). I will admit that most business will not rely solely on the intuition of one person, but many businesses rely on the experiences and intuitions of a team of people, making the success of a business just as susceptible.
Now don’t get me wrong, human capital is an important part of an organization. It always will be. But by automating processes and facilitating data-driven decision-making, you have more room for error in term of who you hire and allow yourself to take other variables into consideration, such as personality (for the purposes of brevity, I am making the assumption that intelligence and experience are the main factors in individuals that contribute to the success of a business and personality is not.). I.e. you do not need the “perfect” employee, but rather one that can fulfill their duties and responsibilities reasonably well and perhaps have a great personality as well.
If you want to make your company scalable and sustainable, with the ability to transcend the errors and inconsistencies of its human capital, you need to partially automate the decision-making process and generalize it for a wider array of users. This is what OThot does. We give businesses the ability to make informed decisions through creating models that analyze historical data and create predictions for the future. Intuition is no longer the most efficient foundation in which to make decisions. It is when decision-making is aided with proven mathematical analysis that a business can have continuity and self-sufficiency. Success will no longer be as vulnerable to the volatility of the human life cycle, but can extend into the future longer than the company’s founders may last.
Don’t let the success of your business be cut short by death (or retirement). With the help of OThot, you can build a business that utilizes data-driven decision-making to create a more sustainable and scalable company that grows and chases success beyond of the limitations of its human capital.