Over the last few posts I have given you an in depth look at the 4 major stages for ItIsEasy. Mastering these will help your business move the needle. Who doesn’t want better performance, increased efficiency, and more income? Right? Well follow these 4 easy steps to get there.
My full roadmap is available for download for free on my site (at the right of this post). This will show you all the key steps for success. I call them the 10 easy steps for improvement. My weekly blog will get you help on these 10 steps.
A mistake I made in the past when working with people on improvement for business, is that I failed to explain my profitability formula. It is based on 20 years of working on projects…
Why should I keep it in my mind and not share it with you? This is why I am sharing it now!
But to have you jump to action, I am making it available for a limited time – 10 days. You yes, 10 days from now I am going to take this post down because it is a unique insight in how process improvement (my background) achieves profitability in many different facets of business.
I was listening to Jeffrey Hazlett last week, and it dawned on me… Why should people listen? What difference does it make? If I am a small or medium size business owner, so what? Get in the elevator and press the button.
Everyone wants their business to do well and be profitable, right? Yes! is the correct answer (lol). So why not have a person that has worked on over 300 profitable projects for 20 years help you do that? I am here to help you accomplish that now! My proven methods are really simple. When do you want to start?
So there you have it folks, that is my 118 seconds elevator speech to hook you in. When I listened to Jeff Hazlett (@JeffreyHazlett) last week, he made an excellent point:
“You have to catch my attention in 8 seconds (adult attention span), and then you have 110 seconds to convince me (average duration of an elevator ride in New York City).”
Why are measurements important?
Because if you don’t measure something how do you know if you are good or bad? Improving? Declining? Losing money?
“Life is really simple, but we insist on making it complicated”~Confucius
Measure is the third step under Identify (part of ItIsEasy). Most people I have worked with, think that measurements are “complex”. Let me crush that myth right now. You can improve something simply by tracking hash marks on a napkin. You laugh? I am serious! Think of a small grocery store owner, how does she keep track if the last 10 purchases made money? Did she exceed a customer’s expectations?
If nothing was tracked, what do you call that store owner in 3 months? Out of business…. It can be for the last week or month, how many customers did I serve? Which sales did I make most money on? I can use the hash marks to count, and calculate a percentage. Track it for a month, and I can understand that I had 50 customers, I made money on 60% of them, and 80% of my customers were satisfied with my service. Now I can use this information for comparison! What should I focus on next week? Profit or satisfaction? See now how this works?
In this post I will cover what should you improve? Where to look? 3 places to look for how to become more profitable. I can summarize them into: Time, Talent, Cost. Identify these and your business will be setup for success.
If you are like me, I don’t like to waste time in anything that I do. I also don’t want to have too much talent assigned to a simple task. Show me one person who runs a business that has an unlimited budget? Then I think cost is your third area to look at your what. Find opportunities in these 3 areas and you will setup your business for success.
Take out a pen and paper (or phone for you techies), and let’s dig in.
All that time you spend on worthless activities is taking you away from important tasks. Why are you spending time on tasks that don’t matter? In a business, especially a small business time = money, and that translates to lost opportunity.
Simple example: would you rather make sure your mail is sorted right, or figure out why your customer is unhappy? What do you think? If you answered a: make sure the mail is sorted right, you may be a little too picky….. Of course the answer is b: spend time figuring out why your customer is unhappy.
I look forward to sharing great ways for you to become more profitable.
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