Do this if you want to optimize your business and capitalize on all the big business opportunities out there. You definitely can create tremendous prosperity for yourself if you follow this simple business optimization techniques.
Unfortunately, most entrepreneurs… maybe even you… spend their entire careers chasing a business breakthrough -- yet are completely oblivious to the goldmine of wealth below your feet. With incremental improvements in several of the key success areas in your business of between 1% and 10% that is easily achievable, you have the potential to double, triple and even quadruple your sales, profit and income. Use the business optimization calculator below to see what your business potential is.
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How to double your business potential in only 1- hour per week.
The KSF, or KPI Rotation Program”(Key Success Factor or Key Performance Indicator - Rotation Program) is a continuous business optimization process developed from the work of W. Edwards Demming. He's the father of the Quality movement which jumpstarted the Japanese manufacturing miracle. And Ben Franklin who created something that he called “a plan for self-examination.”
Using this plan, he focused on one virtue (key success factor) per week, rotating through the entire list four times a year. He kept a detailed log of his actions, and measured their specific impact, continually rating himself on a 1-10 scale for each virtue. You can do this by period or by month – at any point, you have a program in place for improving at least one of your key success factors. Use the business optimization calculator below and see how your business can explode in sales and profits.
At the beginning of each period, focus your mind or the collective mind of your team on improving that period’s factor. What new actions can you take, what new attitudes can adopt, what new or renewed approaches are available to optimize the business or enhance your performance in that one specific area?
Different periods:
Your business can thrive and prosper…
Just imagine, if you can optimize only one thing in your business every week, with just 2%, and you do this over 52 weeks. That equals an improvement of 100%, not taking in account the compound effect it will have on the business. This can mean you have doubled sales, profit and cashflow. That's right, your business can thrive and prosper…your business can explode with growth and profits.
Not only that, but you can capitalize on all the big business opportunities out there. And you definitely can create tremendous prosperity for yourself — but None of this is possible until or unless you, first, optimize and maximize what you’re currently doing in your business. Use the business optimization calculator below and see how your business can explode in sales and profits.
Unfortunately, most entrepreneurs… maybe even you… spend their entire careers chasing a big bang business breakthrough -- yet are completely oblivious to the goldmine of wealth below your feet. With small business optimization breakthroughs in several of the key success areas in your business of between 1% and 10% that is easily achievable, you have the potential to double, triple and even quadruple your sales, profit and income.
The solution is constant and never ending improvement in the key success areas in your business that controls the success or failure of your business. Constant never ending improvement and optimization. It doesn't have to be radical or huge changes, but it needs to be constant. Small, incremental change and improvements in the key success areas of your business, and you will dominate the market.
How to double sales and profit in - 1 hour a week
Use the business optimization calculator to see what your business potential is.
Step 1: Your business annual revenue
Step 2: Using the red slider bar, select with how much do you want to improve different areas in your business. Keep it low and easy achievable.
Step 3: Select the time period it will take you to implement the necessary improvements.
Step 4: Select how many areas you want to improve. We focus on up to 30 ares when working with our clients, but 10 areas is more than enough to make a huge difference.
Please let me know what you think of the calculator , and what your results was in the comments section below.
You can’t optimize and maximize what you’re currently doing, if you don’t break your business to its core process and success drivers. Because only when you do that can you measure, can you increase, can you improve and optimize the level of your business output and performance.
Identify a list of key success factors in your business.
The key question to ask is, “Do all my daily efforts push the business in the direction of my objectives? For most owners, the answer is no. Executives and employees spend too much time doing things that don’t contribute to the business’s success. When think about it, there are a limited number of functions – such as sales or product development – that contribute to success: the Key success factors.
Be specific when you identify the success factors. Don’t say “people.” “Our people are a key factor” doesn’t mean anything. The real “people’ issues might involve recruiting, employee satisfaction, training, compensation or intellectual capital management. And don’t say “marketing and sales” when lead generation or messaging is the central issue. Work your way through the above list, asking how (or whether) each factor impacts your business, and if it does, how you would change that factor to optimize your business. Imagine improving that particular factor. How big of a difference will it make? Or, imagine that factor getting worse.
Let’s look at employee retention. Is high employee turnover a problem? Not is it a big problem or the biggest problem, but is it a problem at all? If you could improve employee retention, how would it impact your business? That’s the entire analysis. Then ask the converse: if we didn’t worry about retention, what would happen? You may find that every success factor on the listed is very important, or you might have other Items to include. For more ideas on key success factors or key performance indicators go to:KPI Examples and Templates
Key success factors can include:
- Total monthly or annual Sales & Revenue of a business
- Total monthly or annual Cost Of Goods Sold, Manufactured or Service
- Total monthly or annual Gross Profit
- Total monthly or annual Net Profit
- Total monthly or annual EBITDA
- Total monthly or annual Profit Margins or Markup in %
- Total monthly or annual Fixed Cost or Overheads (Fixed Cost)
- Total monthly or annual Cash Flow
- Total monthly or annual Working Capital
- Customers Satisfaction
- Customer Lifetime Value
- Customer Acquisition cost
- Employee Satisfaction
- Website traffic
- Return On Investment
- Units produced
- Unit Total Cost
Create a scorecard and measuring system
Next, develop a scorecard system for benchmarking each factor, to understand where you are, right now. This phase is all about tracking. Tracking is creating measurement systems for each key success factor. Bench marking is establishing a baseline level of performance with which to compare your progress and analyze the impact of any changes you make.
Create some kind of measuring system, like a Scorecard or Scoreboard to track the results. Include the different key success factors, including each “measurements”, and your current ranking of each “importance” on a scale of 1-10. Include each key success factor's current ranking of “performance” on a scale of 1-10, and your next action for improving that rating.
You can put the results on the wall or somewhere employees can see the results on the "Scoreboard," and even plot your progress on a graph. Seeing the results, no matter how small will motivate your team into even more action
Gather your team and pick one key area to focus on
Once a week, gather your team. It could be Monday morning or Tuesday at lunchtime. The time isn’t that important, but weekly frequency helps. If your company is small, the team may comprise everyone; if it’s larger, it may be limited to one department. Decide on a topic for the day. Once you’ve broken up your business into different areas and processes, it becomes easy to zero in on processes that can be optimized. If you’ve already performed the critical success factor analysis, you recognize your company’s greatest areas of leverage.
Work your way through your Ben Franklin Rotation Method on the key success factors with the greatest payoff first.
Pick one of the key success factors or areas to focus on
Pick one of the key success factors or areas to focus on for today – it might be sales, customer service, or cutting cost. Next is to spend your time brainstorming and identifying ways to improve the key area. Each idea goes on your whiteboard (hence the name) without judging the ideas good or bad and generating as many of them as possible. We green light every idea from the beginning, which is to say we don’t discard any of the ideas during the process.
There are several ways to do this. You can encourage people with ideas to simply come forward. Or you can set it up in a way where everybody adds an idea sequentially. I prefer that one. It may put people on the spot, but everyone comes to the meeting knowing that they’re going to be asked for ideas. Don’t spring this on your team the first time. Inform everybody in advance what will happen, how it will work, and the topic for the day.
Set priorities and make sure someone is accountable
You might discover that lead generation is more important to your business than every other factor. That means you should focus on implementing the most cost-effective and most efficient lead generation strategies possible. Set a benchmark, set a new goal, and then optimize to maximize results.
Now your whiteboard features a list of ideas for improvement and business optimization. All these great ideas are now actionable. Pick a handful – three, four, five – or focus on just one. What is the team going to execute this week, or at least begin working on? This week. After selecting the action that needs to be taken, make sure someone is accountable for each one.
One of the nice things about this process is that, as a team leader, you are clear on your business priorities, and you can use that clarity to steer it. You can always guide people to a reasonable set of conclusions. They feel good about it.
Create a game plan. Every chosen action gets some kind of metric that can be measured, which becomes a goal with a timeline, which ends up as someone’s responsibility – from idea to game plan to one individual owning the timeline and being accountable for the realization and accomplishment of the goal.
If you need help with a business optimization plan you can look at "The Business Breakthrough". It's a "done for you" in-depth business and financial analysis where we look at 30 critical areas of your business to explore your business's true potential and help you take full advantage of all the opportunities that exist in your business now.
Our Business Optimization Software allows us to uncover major ‘financial breakthroughs’ for ANY business, of any size, and industry, including start-ups, No matter what the economy.
Plus you will receive a custom-made plan with selected strategies that will have the greatest immediate impact on your business without big changes. After receiving the plan, we will walk you through the plan, and if you use only a few of these recommended strategies you have the potential to optimize your business and drastically increased your Growth, Sales, Profits, and Cash flow immediately.