As you grow, the challenge comes in growing so big and the old risk, error and risk taking, becomes less significant and big than the uncertainty of the future. That is why strategies need to be consider from the very beginning.
spots in your organization where any error will cost 500x more
These are the major issues and issues that could make the difference
When revenue dropped by 500x it should not be a situation for the business – it was determined by the organisation
It was not a case of judgment or lass or wrongly done. The issue was calculated and considered, then an appropriate action taken. You may not be able to do this optimally but if the results enable you to understand your most vulnerable issues and decisions – then you can prevent that happening again
When each of my candidates seen the horses weigh too far, the horses were right on the track to win. (Time and time again)
Questions you need to ask
When you are planning a new product for example, make sure that you ask, a) Specifically what the market share you have currently is – how can you get more of these? (A common problem of many markets is the members of the market find a product and they think they know who the competitors are, or how to fix their problems, so they don’t compete with them – something that took the market share away from your current leader) andb) In the future, how would you like to benefit is the market share? Is there a way of achieving it? (this is actually an opportunity that you would miss, if you hadn’t searched for it – Don’t be caught by a “ight” argument)
Do the basics
Understand the experience group of your customer base.
Measure everything,
Keep the basic information.
However, if for some reason you are unable to understand these simple basics, then this that will be critical.
If you are already investing time and money in your business, then you need to know how the revenue is generated to know what is driving this growth.
You can’t monitor the development of new products, product tailored to be more profitable etc. You need to make sure that this expertise is managing it properly from the start, however it is vital the market entry, sales and marketing are all managed appropriately.
Network the competitiveness of the business
Market share
Product
MARKET – This has to be controlled and learn to understand what sales are, where the biggest percentage of existing or existing business is coming from and what affect these existing customers have in terms of your competitors
Sales
Marketing
Expenditure
2. Any management information (financial needs to know what is working and what costs are) which shows the areas where money is spent on external (suppliers)
3.Good communication media to lead your customers to spend more
4. Manage your sales
5. Manage your marketing
6. manage your finance
What is that information?
7. Should act, if it is not being done
8. Have availability to see them (if it is not being done)
9. Feedback – need to measure this – you can say that the key area, for example, is advertising, however this is not measuring the effectiveness (and this is a big problem)
10. Managing failure.
11. Look for possible efficiencies with services using technology, supply chain, customer service.
12. Good working relation will provide the energy required for this to happen.
It will help your employees and management to grow because the pressure to achieve squeezed.
If you have the best possible collaboration with your customers, you will have a greater chance of success, and excellent customer service will lead to a higher level of customer loyalty and testimonials.
Multiple parts of your business are unstable at any time.An understanding of these will not only help you to achieve success, however, it also makes them more stable.
Give them space to develop, and always measure the results.
There is no better way to look for your weaknesses than to ask, one way or another
Never look for excuses (and we all do it)
Put this issue off until tomorrow – The longer you put off this, the longer it will take to resolve
Be very careful with your words
Saving money is not a number one focus of your organisation.
You will never use your best resources, if you put off investing in them
If you are not measuring and controlling the key areas, then you will always be at risk or risk getting hit due to your competitors
Every area of your organisation needs to be managed as a key business activity.
You won’t get to where you want your organisation, by putting off taking action.
