Instantly Put Your Business’s Resources
At Your Employees Fingertips!
Overwhelmed with so much to do? Does the thought of an employee taking a day off worry you? Are you working harder with less to show for it? Does it feel like all your revenues support everyone but you?
Look… You’re tired of watching margins shrink and bottom line profits dwindle to levels that make it seem pointless to even run a business at times. If that’s not enough, you have more to do and less resources to do it with. Knowing what to do and when to do it are one thing. Knowing who should be doing it so it makes the most sense to your business is a whole other thing. And it isn’t just you experiencing this… Look around! It’s everywhere. But does that mean you should keep on banging your head against the wall doing things the way you always have done them?
NO! In fact, you’ll be as extinct as the dinosaurs if you pla?y the game of business with that mindset. It’s time to GET YOUR BUSINESS OPTIMIZED!
What is an "Optimized Business?"
An optimized business is one that has all their People and Processes working efficiently and effectively to create and fulfill the Products and Services of the Company. All this is in alignment with the Company Vision and has both strategic and tactical Goals that keep everyone focused while having key performance metrics (KPI's) at each critical step to measure its performance. It requires eliminating non-essential offerings to keep things simple and focused and equally important, it must have a culture of continuous improvement to keep current with the market requirements. After all, optimal is determined at a single point in time and can only be sustained through continuous improvement.
As cash from credit sources has been evaporating at alarming rates, some entrepreneurs realized, too late for some mind you, that the only REAL source of cash is pure "profit on cash collected" (assuming they pay their bills). Yes we are talking about the kind of money you can touch and feel and put in the bank or in your wallet, not the kind that shows up in the accounts receivable section of your balance sheet. You know you need to effectively manage your costs and your profit. And doing that well is the difference between having bankable cash, or not.
What’s sad right now is that without deep pockets, survival is nearly impossible unless a properly planned and executed strategy is deployed.
THAT’S WHY YOU NEED TO BE OPTIMIZING YOUR BUSINESS PROCESSES NOW!
The game you are in right now is still the same game you were playing way back when. You produce things (products and services) that people need/want and they are supposed to buy them, right? But the season… Ah yes the season… The season has changed massively and you must figure out how to play the same game with the rules of the new season. Heck, even in the NFL, the rules keep changing and players that were once great at their job are having a tough time playing by the new rules. To survive, they must learn the new rules too!
What is Strategy?
In its most simplest form, it’s the means through which any business accomplishes it’s mission and objectives. Your mission is your view of what you want to “do” and “become” over a long period of time. Your objectives are specific and measurable targets that support your mission.
Sound like gobbledygook?
We live in a world today where there is little time for planning. And planning is hardly considered a valuable exercise. We are hell-bent with only one thing on our minds… to reach business success as fast as we can.
I think the majority of owners take actions as though they are in the entrepreneurial world series; with time being an extremely scarce resource… even viewed as a competitor at times.
You and I do not have the time, that’s true. But there is another side to it as well. Most business owners do NOT make time to plan!
I believe that business owners can and should MAKE time for planning – regardless how difficult it might seem.
Make no mistake, your competitors are looking to out think you because those that adapt to the changing rules the fastest will thrive. The rest will go the way of the dinosaurs.
So where is your thinking? What are you doing right now that your competitors haven’t even thought of? What improvements can you make in your business today that will pay you long term dividends? Do you care? YOU SHOULD!
So if a new strategy is so important, and you’ve not really done this before, what are the steps necessary to craft one that works? Strategy is all about figuring out what work you should be doing that will help your business not only survive but thrive in the given economy. And what’s most important to know, you can change your strategy when the times change. It can be a fluid thing, which is why it’s important to revisit it often. While strategies can and should change, principles do not. This is the cornerstone to being successful long-term! You can no longer take a “build it and they will come” approach. Not anymore…
Make no mistake, the event based model is short term thinking with short term results. Look around your industry and see who has the makings of a sustainable business. I’ll bet you can easily tell the businesses that have a clear path to their future versus those that appear to be winging it. Am I right?
Here are the top 5 things YOU need to know about your prospects to craft a business strategy in today’s environment:
- What PROBLEM does your prospect want to solve?
- How are they currently dealing with it?
- Does it matter where they get their solution?
- Can you influence how they get it?
- Can you competently offer what they want?
If you can answer these five questions above, you are 90% ahead of your competition already. Most businesses simply don’t. Or worse yet, choose not to. “What they are doing is known as short term thinking.”
When you confidently know your businesses capabilities, AND you know what, how, when, and why your prospects buy, you have the makings of a long term profitable business venture. Now don’t get me wrong, there are many more elements about your business you need to know for success to be possible, but you get the idea right?
What’s the key difference between being in business
and being in business with well documented processes?
I’d like to finally point out that with all this great knowledge, comes the realization that many things must be done right, in order to succeed. That success will ultimately be dependent upon your ability to manage many moving parts simultaneously. That looks an awful lot like“project management”, doesn’t it?
Well, that’s because it is. If you are a fairly organized person who can visualize what needs to get done, put a plan in place to do it and carry it out, great! If on the other hand you are not, then get help immediately. Your ability to succeed is greatly dependent upon your ability to manage many moving parts, we’ve established that. So if that’s not your strong suit, get help!