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Monday
Nov192007

"Our net profits are consistently and dramatically higher - two to five times - than the average in our industry:" True or False (for your business)?

If you answered “True” to the above question, you don?t need to read this article further. If your answer is “False,” think about how important it is for you to achieve dramatically high profits that endure beyond one’s lifetime. If the answer is “not important” then again, you don’t need to read this article further.

That leaves those of you us who want to achieve high profits consistently, sustained over a long, long period of time. The question is: HOW?

In the next series of articles, I want to address three paths to achieving this level of high profitability and long-term performance.

The first path is Strategy. Strategy is simply everything that you do before you or your organization engages in an activity. Using military terms, it?s how you position your troops before a battle takes place.

The second path is Systems. Individually, we all have habits, a conditioned way of doing things ? especially those that are repetitive in nature ? driving a car, talking on the phone, having face to face meeting with a potential prospect, etc. Systems are an organization?s habits. Our systems and strategies produce results. If we don?t like the results we are getting ? unsatisfactory revenues or profits, for example ? we need to take a close look at our strategies and systems. Using military terms, Systems dictate how effectively you use a set of actions once you engage in a battle.

The third path is People. Your people are crucial to successfully creating, implementing and executing Strategies and Systems. After all, strategies and systems mean nothing if they are not being executed by people. Ultimately, it’s your people who will make them soaring successes or disastrous failures.

 

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