Celia Powell - "By the Numbers"
New week with sharper focus
Welcome back to the work week. Hopefully you had an opportunity to fall off the grid and reconnect to what matters to you most! With a couple of days of attentiveness to life outside of business and serving clients, I found myself being slightly tuned into the current events and catching up on the latest COVID-19 news, as it appears to be showing signs of increased spread. I began to process this scenario that we may be facing, and decided to begin taking inventory of my personal affairs and household needs to prepare for another form of restriction, even if it’s self imposed!
Which brings to mind that being passive and waiting to take action once you have needed information, will put you out of business, only you and your customer have that right. We are glad you are here joining us.
IBGR is committed to your success and our programming is designed to give you the tools and resources as well as the motivation to keep pushing to meet your goals and the reason you created your business. We offer you high value with minimal or no cost but for you to take action on what you’ve learned. A proven and trustworthy business resource that has your back, your front and all the way around.
Have a great business week!
Very seldom does all of this tedious but necessary process improvement work provide such a clear benefit. One of the most important decisions you will make in Stage III is accurate pricing. You still have the dance of what price the market will allow but now you can work backwards to identify ways to decrease costs (time, non-value added steps, waste, etc.) and make a profit. Also you can look at the amount of work required for each account and determine whom to replicate and whom to replace.
Key Issues - Owner Perspective:
What You Need to Know
What is Activity Based Costing? ABC/Activity Based Costing is a methodology used in costing products and services and a function of Managerial Accounting. Managerial accounting is the process of identifying, analyzing, interpreting and communicating information to managers to help managers make decisions within a company and to help achieve business goals.
Key concepts and definitions:
Questions that need answers
What You Need to Do Five Steps to Maximizing Pricing with ABC
One assumption we make when starting on this topic is the major or core processes related to production (or service delivery) have been mapped (see EPISODE A.021 THE OPERATIONS ELEMENT). If you have not broken your processes and made progress on updating, ABC is a waste of time.
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