There’s no finish line in technology, and Brian Deagan loves it.
“Nothing’s ever done; something new is always being created and that just intrinsically creates opportunities to build companies,” says Deagan, co-founder and CEO of digital marketing services and software developer Knotice Ltd.
But along with that comes some growing pains. The company over the past five years has exceeded 500 percent growth in employees and annual revenue; however, the need to hire at a quick pace is not the only concern Deagan has.
“Keeping up with some of the basic changes and things that are going on in the market can be disruptive organizationally, but at the same time, you need to be able to stay ahead of everything, stay on top of it and stay at the pace you are at,” he says.
One of the keys is not just a business plan, but one that is derived from an operational model that is used and leveraged on a day-to-day, week-to-week, month-to-month basis.
“That is one of the key things to keep the business headed in the right direction and on track,” Deagan says.
The model should drive the plan, but it tends to be more operationally oriented than, for example, a 40-page business plan, which is used more as a communication tool.
“Don’t confuse something that is a communication tool versus an operational tool,” he says. “Have them related and driven by the operational plan but don’t try to have one be both.”
The business plan is important to be able to communicate the plan of the business to external and internal constituencies. The operational plan’s role is to be effective in defining growth targets, meeting those targets, and then modeling out what is needed to support that growth.
The operational model in synch with the business plan gives a one-two punch to fight threats to derail growth.
“That is one of the key things to keep the business headed in the right direction and on track,” Deagan says.
The term “on track” for Knotice means a five-year goal of going from $10 million in revenue to $100 million.
“The primary way to do that is just sort of keep your eye on the ball and build the company brick by brick,” Deagan says. “So often, when you are growing and you are building something, if you are not really focused on the here and now, you have to have an idea where you’re going.”
If you spend too much time worrying about the future and not just building the business the way it needs to be done today, you’re not going to go anywhere.
“There is a point when you are supposed to climb up to the top of the trees, get a good lay of the forest and understand where you need to create that path through the forest,” he says. “But at some point, you just need to get back down on the ground and start chopping down trees.”
Hire a complementary management team in terms of personal and skill sets, and it will serve you well over the years.
“It’s much different when you’re in a room with six people banging something out to take the company to the next level versus when you are closing in on 100 people and you need to take the company to that level,” Deagan says. “I think it’s important that as the company evolves, you are tapping the characteristics and qualities that are most important to company growth. I’m a firm believer that everybody can do that to some extent. You just need to be conscious and aware of it.”
How to reach: Knotice Ltd., (800) 801-4194 or www.knotice.com
Weighing feedback
Consumer trends rise and fall daily, and a company needs to be aware of huge shifts that may influence its long-term direction.
By evaluating customer feedback, it can help you sort out consumer behavior to see if it is a trend or just a fad.
“There may be a consumer behavior or a new technology that you need to address in the short term, and you work with your customers to understand how to help versus just reacting to a trend in a manner that might not be prudent or well-thought-out,” says Brian Deagan, CEO of Knotice.
Categorizing customers may involve some judgment decisions, but it is necessary.
“It’s critical to get feedback and engage customers that are both early adopters, as well as customers who aren’t, to make sure the things you are going to do have a broader appeal and don’t just focus on a specific niche,” he says.
Getting perspective from both is a key step.
“You may not necessarily want to do something for an early adopter ― and it could be indicative of the future, but it could also be indicative potentially of a niche segment,” he says. “Get feedback from different segments of early adopters and the majority users and balance accordingly.”
How to reach: Knotice Ltd., (800) 801-4194 or www.knotice.com
