‘Thinking outside the box’ is a bit of a buzz phrase at the moment in the business world. That said, it really is an extremely effective process. A simple way to start is to examine, evaluate and analyse what
other people (inside and outside of your industry) are doing. What do you think this might give you in terms of improved processes and your best chances of long-term success?
Every business mechanism can be broken down into its driving processes and sub-processes. Once you figure out what the processes driving an activity are they can be measured, quantified and then improved.
This, in a nutshell (combined with additional programmes to drive your own personal development) this one of the aspects of how we would work with you on our 121Business Growth Program with various areas of your business.
Each process (and there are usually many) in a revenue-generating, production, operational, financial or personnel activity can be improved anywhere from 3% or 4% all the way up to 100% and more. If you can get a 3% to 100% plus improvement in, say, 10 different processes and multiply this by all the different elements of your business (sales, team, marketing just to name but a few) then do you think this may translate into significant growth possibilities for your business?
A process occurs whenever you market your business, have any sort of sales approach, produce a product, manage stock, make something, move something, make a deal on the phone, process a complaint, perform a service, or take an order. What would happen if there was always room in nearly every process for improvement… always! A process is only as good until the next idea that improves it further.
When you identify how a certain part of your business currently performs (through analysing, monitoring, and measuring it), you can normally find other people in your organisation and industry (also other people outside your industry) who are doing it much faster, easier, more effectively and more profitably than you are.
It’s then a matter of discovering what they do that you don’t do – the strategy and the tactics they use. Take a good look at what drives their strategies and what the mindset is that sustains it. What are the lessons you can learn to improve your business model? How can you add this to a simple application and add it to what you’re doing so that your process will perform far better.
From a revenue generating perspective, then consider this from another angle. What processes in your business have you perfected and made far superior than anyone else in your industry already? Now consider this same question for those outside your industry. Could you take your most successful processes and sell them or licence them (possibly joint-venture them) for a share of the improved result they may produce for other businesses?
So….some more questions for you to consider….
What do you do in marketing? What do you do in selling? What do you do in operations? What do you do in effectiveness? What do you do in management that’s greater than the way 90% of the other people out there do it? What do you do in money managing? What do you do in achieving high productivity?
What do you do in any measurable element of your business that you could do better by learning from others … or that you could teach others to do and get paid for it?
Ask yourself these questions and consider how you can start widening the scope of your business. Do you think you could you add another dimension to your existing business?
To Your Success,
Mike
No comments yet.