Many CEOs would try to get $2 million more in sales, of which 5% would fall to the bottom line. But how fast can you get $2 million in additional sales in today's tough economy? I have a solution that is 20 times faster - eliminate the costly mistakes and bottlenecks that surely exist in your company, and improve your management skills. Following are some areas to look at and deal with in your organization.
Companies can get help with sales through marketing experts, sales and marketing education, books, and audio programs. Similarly, finance has CPAs and other financial experts, as well as a plethora of educational opportunities. Unfortunately, while the operations portion of the business (both personnel and processes) represents the highest cost (70-80% for most businesses), not much help is available. We don't have enough operations management educational opportunities or trained consultants available in this country. The lowering of variable costs, such as labor, materials, etc., for operations should be a primary focus; unfortunately, most small- to mid-sized businesses focus on increasing sales instead.