ROI Comes From Customer Value Creation

ROI Comes From Customer Value Creation

I read a post the other day looking at the ROI (Return On Investment) in immediate payment systems (banking speak for instant payments) and one particular statement made by the author made the hair on the back of my neck stand up... In fact, the real driver may not be the ROI but just keeping up with customer and regulatory needs. The reality is that if the ROI is some sort of fuzzy "feel good" or "customer experience" story without any strong numbers most businesses won't invest in these types of problems. In this example, if all of the major banks in a country (such as Britain or Canada) decide that "instant payments" don't have a positive ROI they will all choose to not build that capability since it isn't "worth it". If they do choose to build it it will be based on a "loss aversion" or "cost reduction" ROI and it will likely be built at a high cost and...
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Who Are The Innovators?

Who Are The Innovators?

Over the past several months I've been spending a lot of time looking at the industry in which I work (Financial Services) and wondering what it is that keeps this industry from being a leader in Innovation. Like many other industries the leaders in banking regularly talk about their Innovation agenda and some even claim to be be leaders in Innovation, but as I look across the industry I see very little real change - even the best innovators in Financial Services seem to be making incremental changes with very little disruptive change coming from the large incumbent companies. (more…)...
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Great Business Books for Small Business

Great Business Books for Small Business

I've been known for some time as a voracious reader and I'm often asked for recommendations of good books for specific situations.  I promised in an entry earlier this month that I would list some of my favourites, so that's what today is all about. This list is by no means exhaustive, but hopefully it will introduce you to some new titles or authors that you might not have otherwise picked up that may be able to help you in some aspect of your small business.  This isn't about navigating the corporate heirarchy or mastering MBA level statistics or theories, it is a list designed to address the specific needs and challenges faced by small businesss and Entrepreneurs.  The list is in no particular order (I'm not big on rankings) so the last book on the list might be just as helpful for your specific needs as book number one.  I hope you enjoy! Buy on Amazon.ca Never Eat Alone And Other Secrets to Success,...
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