6 Key Areas of Business Advice in 21st Century Part Six – “Culture Eats Strategy for Breakfast”
We believe that 80% of straightforward, no nonsense, strategic advice can be summed up in just 6 Key Areas of Business Advice.
2 min read
Marketing 6/10/19 12:00 AM
We believe that 80% of straightforward, no nonsense, strategic advice can be summed up in just 6 Key Areas of Business Advice.
In Part 2 of this 6 part series of blogs – we are asking the question – what’s your growth focus? – because there are “Only 4 Ways to Grow a Business”.
This involves some logical thinking: First you need to understand the math:
Revenue is comprised of 3 elements – in every business
It is a mathematical fact that (for any business in any given period) their Total Revenue = 1 x 2 x 3
If you can’t grow revenue and you want to Grow Profits, then the only alternative way to achieve that is to Reduce Costs. To do that means you either have to improve the gross margin by taking out cost (at delivery) or reduce overheads. Either way you have to Get More Efficient.
Consequently the only way to Grow Your Business:
Rank your strategic growth focus in priority order
It’s a good strategic discipline for business owners to decide – where it would be easiest to grow – and then rank the above in 1-2-3-4 order of priority.
Focus on the HOW? Create a Plan
You can only achieve this in 2 ways:
Generally the answer for most businesses will be organic approach – in which case your key focal points of the plan will be:
You can achieve this in a few ways to include:
Generally the answer for most businesses will be to really concentrate on the customer service process (unless they happen to be already developing new products or services) – in which case the key focal points of the plan will be:
You can achieve this in a few ways to include:
Generally the answer for most businesses will be to really concentrate on up-selling services – in which case the key focal points of the plan will be:
You can achieve this by focusing on the 7 Business Wastes – which are covered in detail in Key Area of Business Advice # 3 and Blog 3
By following a logical approach to strategic growth planning – and understanding that there are Only 4 Ways to Grow a Business you can dramatically increase your chances of Maximizing Business Potential.
© 2019 HaydenRock Solutions, LLC
We believe that 80% of straightforward, no nonsense, strategic advice can be summed up in just 6 Key Areas of Business Advice.
We believe that 80% of straightforward, no nonsense, strategic advice can be summed up in just 6 Key Areas of Business Advice.
We believe that 80% of straightforward, no nonsense, strategic advice can be summed up in just 6 Key Areas of Business Advice.