Growing a business broke is not an uncommon phenomenon. Yet, it can be avoided or overcome with discipline and measuring the right metrics. Let’s look at business growth and how to balance it with profitability.
The Core Values of your Organization
If your company is ready to grow, whether by scaling up or through acquiring, it is important to have clear Core Values bedded down. This article focuses on Core Values, where they fit in in the One-Page Strategic Plan (OPSP), the role of the leadership team and the discovery of the Core Values of your company.
Evaluate Performance and Decide on Actions
Part of your role as an executive or owner in driving business performance, is to evaluate past performance and decide on how to remedy the situation going forward. Here are 3 #bestpratical tips to effectively evaluate performance and determine actions.
#bestpractical Reporting Metrics
Business leaders need more than month-end reports showing history. They need to know what to do during the month to influence the future outcomes, i.e. what IS the dial that needs to move (what to measure), and what to DO to move the dial. These are called leading indicators. Watch this short video to learn more.
Increase Business Profits
Every business can improve its profits. Sometimes, changing only one thing in an organisation can significantly increase profits.
Get Traction in Profit Performance
Business leaders focus on growing profit performance. Yet they are constantly challenged with various moving parts in their business and teams. A common experience is “we are spinning our wheels”. The COVID pandemic adds an additional layer of complexity that will take some time for all to settle into the new normal. It has taken its’ toll on profit performance of many companies.