How To Build A High Profit Business
- 1. Mission Statement Our Belief and Focus ……Even a great process can improve if you look at it from the right perspective. With leadership and team commitment any organization can reach its desired potential. The ability to recognize or see potential is easy, knowing how to navigate the improvement process is where we excel. Value Stream Consulting A Division of Learning Social Marketing
- 2. Building a High Profit Business An overview of the first 10 criteria needed from the list of 21! Value Stream Consulting
- 3. 1…Mission Statement How you service your customers. The Benefits you offer. Your business values , vision and overall perspective.
- 4. 2…What Business are you in? What is your product? How does it assist in serving your customers? What are you Doing for your customers?
- 5. 3…Who is your customer? Define your customer. Location, Industry, number of employees, profit margin. Attract the client that you want to service.
- 6. 4…Competitive advantages Keep your competition on the radar. Learn from them. Find out your customers Wants and Needs. Talk to your customers and ask them what are their want and needs . Communication is an important key to success.
- 7. 5…Long term thinking Short term and long term company goals. What skills are needed down the road to stay competitive? Understand your present location first, then plan ahead.
- 8. 6… Clear sense of direction Develop targets and goals. Outline individual and group agendas. Paint a very clear picture of your expectations. G- Goals O- Objectives (Sub-Goals) S-Strategies, leads to objectives then goals P-Prioritize , rank your agenda A- Activities, specific deadlines, assigned tasks *** Make your desired future your reality***
- 9. 7…Key profit areas Focus on your top producers. The 80/20 rule applies here. Diversification is not always improvement! Forecast trends. Rank your profits streams by calculating (profit, cost, time).
- 10. 8…Set performance targets What gets measured gets DONE! Measurable performance is needed for production. The subconscious urge for completion.
- 11. 9…Management style Top executives spend 75% of their time talking with staff and observing productivity. Staff meetings once a week. Talk to all management staff for a few minutes per day, at least ! Open door policy is a must.
- 12. 10…Customer service This is a must …Develop an obsession with customer service. Your opinions set the benchmark for customer respect, within your company. The 4 Levels of Service are… To Meet Expectations… To Exceed Expectations… To Delight the Customer…(Above and Beyond) To Amaze the Customer…( They tell other people)
- 13. Contact Information Looking for Business Consulting to develop or expand your present business needs. For Online Business Growth and Business Development. Shawn@shawnfmurphy.com