PROFIT RADIO - "A Network of Entrepreneurs for Entrepreneurs"
We introduced the 5.15.80 Model at the beginning of the Season. It was a combination of research into small business performance and our practical experience from the last 2 decades. You could go to any area around the global with a market based economy and randomly select 1,000 companies, here is the distribution you would find: 5% or 50 companies that own their markets, 15% or 150 companies that are making money, and 80% or 800 companies that are barely surviving.
This series is about how to move from one level up and our concern in this series is the 80%, the focus now is how to make the business perform and viable.
LISTEN > ENGAGE > APPLY
Today we start 3 of the 9 Disciplines of Fast Growth. These are the beginning disciplines that will move a successful business to a market dominator.
Disciple 4 is the first in the sequence and starts with ways to improve market and sales performance.
Discipline(s) 7, 8, and 9.
Key Issues - Owner Perspective:
What Do I Need To Know
The Job App
The purpose of this job app is to provide a step-by-step guide for improving an existing process. The organization has the advantage of experience over time to understand what works and what needs improving. Benchmarking an existing process against the industry, the company has an opportunity to start from a better position and collapse the learning curve.
Who: Managers, Subject Matter Experts (SME), Front Line Employees.
The challenge is building on the past to create the future. The managers or immediate supervisors need to be involved to provide resources and ensure this process fits into the larger organization. SME's bring specific technical expertise to incorporate the latest improvements into the process. Front Line Employees provide a pragmatic filter and a set of hands to get it done. Additionally it builds commitment to the new process.
Resources: Manuals (equipment, software, etc.), Collaboration Software, Competitor Product & Service research, internal defect data, external defect data.
Resource materials are used to identify all of the “musts” of the new process. If the process is complicated and/or being built virtually – flow charting and/or relationship software (Visio, Mind Mapping, etc.) is essential. Product & Service research, if the selected process impacts either, is necessary to understand what is average and what is exceptional. Defect data, internal and external, is used to look for patterns and identify root causes of problems.
Time: 3-5 weeks
Market Research is the most expensive – hard costs. QFSD is the most technical – requires accurate information (research) and SME's familiar with the process. The major time issue is active participation from the front line to ensure buy in.
What You Need to Do
How to build or improve your business with IBGR
We are your single, one stop source for business success, period, end of story.
Make sure you leave some thoughts in the comment section below. I am interested in continuing the conversation.
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