Are You Using Your Business’ Valuable Assets Wisely?
Are you using your business’ valuable assets wisely? Are you employing your company’s limited time, money and talent in the most productive way? Do you know the specific areas of your organization in which to invest that will give you the biggest payback?
Let me tell you about Ed who was a happy, outgoing man in his late 50’s who had a large, residential remodeling business. However, Ed had a problem.
While he had been quite successful, he wanted to take his business to the next level. But the challenge he faced was how could he figure out what he needed to change within his business so he could play in the big boy’s game of working on expensive houses in the exclusive part of town?
As Ed looked at all of the things he could change within his business, he said “where should I invest my limited funds?” How could he specifically identify where he needed to focus his resources to give him the highest return on his investment?
Determine Your Business’ Make or Break Factors
In working with our Innovation and Business Planning firm he discovered the solution – identifying his business’ unique Critical Success Factors. Critical Success Factors are the items or actions that a business must achieve to reach its goals and Vision.
Your Critical Success Factors are the things that will either make or break your business! They are the things that you must absolutely, positively do to be successful.
This has serious implications: the identification of and realization of your business’s Critical Success Factors will ultimately determine the destiny of your business!
According to a Dun & Bradstreet study, 96% of businesses in America that fail, fail because they don’t make the right decisions nor do they have the criteria to make the right decisions. The criteria for making the right decisions for your business are your business’s Critical Success Factors.
Noted author and speaker Tony Robbins has said that “one reason so few of us achieve what we truly want is that we never direct our focus; we never concentrate our power.” Your Critical Success Factors are the things on which you need to direct your focus and concentrate!
Take Your Business to the Next Level
When Ed learned the concept of identifying his company’ make or break factors the light bulb when on! He now had the tool to determine the specific thing he needed to do to take his business to the next level.
One of Ed’s organization’s Critical Success Factors was that they needed to present a much higher professional image to earn the privilege to work on prestigious houses in an affluent area.
The first thing he did was to upgrade their proposals by using high grade paper, adding a nice logo and having them professionally bound so they would project a professional, top drawer company image.
Another was that they went to using nice, professional uniforms and attractive company vehicles.
Then they implemented formal, weekly project status meetings with the homeowner. Finally, at the end of each job Ed decided it would be the perfect time to give the customer a nice thank you gift.
The entire area of presenting a professional image proved to be one of Ed’s business’ make or break factors. Presenting a professional image was something that they absolutely needed to do to take his operation where he wanted it to go – that is, it was one of their Critical Success Factors.
Begin today by examining your operations to determine your make or break factors so you will know where you need to focus your company’s limited time, money and talent to create the business you desire.
If you need assistance in identifying your business’ Critical Success Factors please contact us so we can show you how to use this concept to tremendously increase your revenue and take your business where you want it to go.
www.FountainheadConsultingGroup.com
Office phone: (770) 642-4220
