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Tips for Profit Optimization

Leadership Also Means Commitment to Profit Optimization

Many, if not most leaders are interested in continuous improvement. After all, the key to organizational success starts and ends with good, solid, and strong leadership. But truth be told, we want results. We expect results.

All organizations go through a life-cycle and as leaders, we are well aware of where our business is in that life-cycle. Regardless of whether ours is a new business, a seasoned company, or a franchise – we want results.

Most leaders expect continuous growth, too.

One key tip is to be conducting continuous process improvement measures. That is a foundational way to ensure that we are operating at a prime. Some other tips include:

  • Ensure your leadership team is genuinely operating at top speed
  • Empower your best direct reports. Take more load off of your shoulders and let other experts take the reign
  • Make sure there is no waste in operations
  • Safeguard against poor customer service
  • Monitor knowledge management
  • Incorporate zero cost revenue processes
  • Hire and retain only the best (prolonging retention of meager performers can be a very expensive option)
  • Take advantage of your trusted advisor. That’s why you have him/her
  • Integrate coaching and mentoring programs for top performers and then another separate program for those in the ‘middle’ range
  • Be sure that you are taking advantage of marketing strategies. If you aren’t using them to their fullest potential, it’s a waste of valuable funds
  • Optimize your products. Are you still offering the same ole’ products year after year?

Optimizing your services should be a continuous effort, too. In our contemporary landscape, there is no reason why you shouldn’t offer your customers the best possible options available. If you are planning an international market expansion or preparing for a merger or acquisition – remember that there is a lot of wasted profit during the process – if the process has not been planned for in the best possible way.

If you settle for status quo, that’s what you’ll get. What’s more, if you stay at status quo, you are threatening the sustainability of our business.

If you aren’t already functioning in a full spectrum optimization process, let me know. Our programs are guaranteed  (if you don’t double your investment, it’s on the house). We want to see you catapult your business. There’s no reason not to.

We’re in this together.