Business
In this episode, we look at why I don't have the time and you don't have the time to do one more thing. Hey, everybody, welcome to another episode of ClickAI Radio. All right, who's got the time? You know, as I work across a lot of different companies, that is one of the common themes right from company to company. It's everyone's slammed everyone's busy, who has got the time to do one more thing, you constantly are struggling, each of us are with a I don't have the time or the energy or the resources to get things done. And the stuff that really matters. I would even add that that applies to this whole AI business. Right? Which is okay, fine. I got some AI insights, Holy smokes, don't have the time to actually do this. You know, think back to the last time you implemented something in your business, and it took longer than what you expected. That is a recurring theme across tons of projects, tons of companies. So how on earth? Could it be any different with AI? You know, I've, I've always liked Ted, you know, Ted.com, I just love the format of they figured out sort of this formula of Hey, if you, if you do it in less than a 20 minute conversation, we seem to have time to watch one of those right or to listen to something that someone's prepared. That actually takes more work, doesn't it to actually get it small enough, in fact, wasn't a Mark Twain that said, Hey, I would have written a shorter letter, but that would have taken more time. So it actually takes more time to produce things in a more succinct way. So the question is, what are the things that we do take time for? I've come up with a moniker that I use to help me describe that I call it click time, a click time is seven minutes, right? So I look at things in terms of click time units, am I willing to invest seven minutes of my time into something? And so as we've seen and applied AI to multiple organizations, we'll take a look at how many click times did it require of their time? And how many click times did it require for them to be able to then make a decision? You know, each of us wants to know what needs to be done, but in simple steps, and then you want to be able to get the guidance in a short time, and then move on with it. I was fascinated with this when I started to look at how much time did it take for us as humans to get through a drive through a drive thru restaurant right for fast food. So I started looking for some stats on that. And I found something interesting. This is from 2018 research. There's some a little bit newer, but for whatever reason, I grabbed the 2018. One, our Here we go. So this is the amount of time that we're willing to invest. So right we make the argument, I don't have time, and yet we still spend our time on things. In what chunks do we do that? Well, this is in this is in descending order. In other words, the first one that I read off to you is the one that takes the longest. All right. Now what this means though, is that just because it takes the longest, right? It doesn't really mean that it's the worst drive thru, or could it also be a function of, hey, there's a lot of people that want to go there. It's probably something between the two of those, right? So for example, the one with the longest wait time in 2018. Now for the drive thru was McDonald's. It came in at four minutes and 33 seconds. That was the average. All right, so if you want those chicken nuggets or for me, it's the Egg McMuffin. All right, you're gonna wait four minutes and 33 seconds. That's less than a click time. All right, the next one is chick fil a four minutes and 21 seconds. And then we've got Carl's Jr. Four minutes and 13 seconds. And again, these are average wait times. party's four minutes and 16 seconds. And then we drop we break the four minute barrier just like you know we did that with running the mile, right? We Break the four minute barrier, we've got Arby's, and Taco Bell come in about the same three minutes and 58 seconds. Wendy's comes in at three minutes and 46 seconds, which I have to say the frosty is, I'm really, I'm really, I really liked the frosty, especially when you dip the french fries in it, alright, anyway. And then we got KFC, three minutes and 39 minutes, Dunkin Donuts, three minutes and 21 minutes. And finally, Burger King coming in three minutes and 13 seconds. All right. So the average turns out to be three minutes and 56 seconds in order for us to get whatever that is that we're targeting going through the fast food line. All right, that's less than a click time. So I'm willing to invest time as a human least here in North America, to get through the line, so that I can get one of those items. So maybe I do have time, maybe maybe it's where I'm going to allocate my time. Now, one of the problems of some of the AI providers, as you probably know is that it takes a lot of time. In fact, in my previous podcast, I mentioned the effort, right, we looked at some some research and stats of the effort and the cost that it takes just to stand up the data science team to do this, right. It's massive, right? In fact, there's an SMB owner, it's too long of a time and effort before he can actually get any sort of results out of it. So I was reviewing a recent case study where a small to medium business had used an AI platform. And this is a different platform than then what most of these are, in fact, this platform recently got some accolades. Anyway. So within 30 minutes of loading their data, and seeing the AI analysis, right, so after the models were built, okay, they identified $3 million in additional sales opportunities. Hey, that's like four click times right? Now, I have to admit, that's not a very common amount of time, right in order to get those kind of results so quickly, right. But it's also pretty amazing to see that kind of result as well. I'd say it another way, that's about seven times through the McDonald's drive thru. So that company, they went through for their chicken nuggets seven times. And in that period of time, they're saying, they got some AI insights that led them into $3 million of additional sales opportunities. Wow, that's pretty good return on your chicken nugget. All right. Now, if you were diligent, right, which you are as an SMB owner, and you do the work to run your business. In the course of doing that, let's say that your critical business information was being safely and securely monitored by AI. And that you didn't really have to actually set up all that AI, let's say that the AI was working on your behalf. And then when the AI found something, then you'd be notified. And now you can use it as an augmented intelligence tool, which is really where AI fits in today's world, right? It's take all the good things you already know. And then you're going to take a few click times, right? A few times through that McDonald's drive thru, metaphorically, right? To look at that insight and see, is it relevant? Can I apply it? It may take you, let's say 10 times sir McDonald's drive thru, to be able to put the decision together to make a change in business direction. All right. That's might be not the norm. All right. But in any event, when you look at what the big companies are dealing with, and there's a ton of time that they put into and massive teams, in order just to start getting those insights, you start realizing that as a small to medium business owner, you actually can compete against the large organizations by applying AI in a manner that allows you to allocate small time slices to get the AI guidance to increase your sales growth. Now, to learn more about this, I'm inviting you to join me on a webinar on this Thursday at 1pm. Eastern 10am Pacific, and I'll invite you to come register at ClickAI.com/BreakTheTrap. ClickAI.com/BreakTheTrap I'd love to tell you more about how it is that as a small to medium business owner, you can get the results in a quick time. Thanks for joining and until next time, find some time Thank you for joining Grant on ClickAI Radio. Don't forget to subscribe and leave feedback. And remember to download your FREE eBook visit ClickAIRadio.com now.