The Four Cornerstones of Business (Part 4):In order to offer people fulfilling jobs, provide goods and services to the market, and reinvest in your systems so you can offer value for the money, you must make a profit, the cornerstone that really trumps all.Key actions to insure profit continues include: a) routinely review your margins and course correct, b) rationalize your items/services to match market interest, c) turn sales decisions into business decisions, d) never lose sight of the cost of inventory, and e) do not over leverage – cash is always king.
The Four Cornerstones of Business (Part 3): Performance is synonymous with execution, the ability to consistently deliver what was promised, when it was promised, and how it was promised.Business processes often encompass the hidden challenges for organizations to be able to do what they say they want to do.Mistakes will happen, yet being honest and staying transparent with your team AND your customers builds trust and long term relationships.
The Four Cornerstones of Business (Part 2): It’s all about the product or service at the end of the day, which may be obvious but is often the hardest to execute.Is your product unique? Can you differentiate it? Who is your target consumer and where and how will you find them? What is your price value point compared to the competition or competing products?How you answer these questions sets your business strategy and will drive investment decisions, organization design, talent selection and development.Your brand will be framed.
The Four Cornerstones of Business (Part 1): Top organizations maintain a simultaneous focus on people, products and services, and performance as measured by profitable results. Even if current internal talent has delivered incredible results, organizations often evaluate and bring in outside talent to open perspectives and attract new skills. It is the individual’s responsibility to stay ahead of their own development plans, keep their supervisors advised of their interest, and solicit feedback regularly. The best firms carefully invest to play and retain their internal talent, just as they do the external people that keep them alive, customers and clients. Superior customer service results from dedicated and engaged employees who deliver superior business results.
If We Know the Definition of Insanity, Why Don’t We Change?: The ability to influence our future, across organizations, or within our business or families lies within ourselves. Saying “that is just how I am” gets in the way of our becoming the best we can be, and often prompts us to play victim pointing to everyone else. The beginning of the year is a great time to clean out our mental closets, getting rid of what does not fit, is too big or too small, is out of style, or just no longer looks good on us. “Wearing” the same thing over and over again and expecting a different outcome is insanity. It is up to us to manage our own behavior, recognize thinking that needs to change to lead to action for change.
Copyright The Larsen Group: Architects of Change 2008