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The four "P’s” of Building a Great Business.
What is the proper combination of product, service and pricing that will attract customers in this new world of noise everywhere we turn? This week, we begin exploring just that question.
It affects every kind of enterprise, and this subject is strategic to our planning for growth, and even for survival. So we will spend the next five weeks or so on exploring our true core competence, and how to take advantage of that core.
We start with one of those "let's make learning easy" catch phrases, one that is important to understand and to use for strategic planning. Read on...
All the best,
The four "P’s” of Building a Great Business.
Some of us remember things better when given a catchy phrase or rhyme. Here’s one to help you with squeezing the most out of your available resources. It reflects the new reality in our business world, one with little room for mistakes and no room for bloat within our companies.
The first "P” stands for people. The wrong person in a job causes all below or above that person in the production system, that depend upon that person, to operate at a reduced rate or quality of output. And if there are people depending upon the output of that wrongly-placed individual, they too will suffer from reduced resources to complete their jobs. The cost of a bad or failed placement in any position in a company’s critical chain is enormous and goes far beyond the salary paid to that individual.
The second "P” is for productivity. If a good person is failing at the job, it may be because you have not provided the resources necessary for that person to do the job expected. Hire a great sales person then fail to support him or her with a good marketing effort or a properly priced quality product, and that person will be set up to fail, and for reasons you might have fixed.
Then there is the third "P” – To read the rest of this post about financing your business cleanly, click HERE to go to the full insight at http://berkonomics.com.
To catch up with past insights or to make comments for all to share, go to www.berkonomics.com .
The first "P” stands for people. The wrong person in a job causes all below or above that person in the production system, that depend upon that person, to operate at a reduced rate or quality of output. And if there are people depending upon the output of that wrongly-placed individual, they too will suffer from reduced resources to complete their jobs. The cost of a bad or failed placement in any position in a company’s critical chain is enormous and goes far beyond the salary paid to that individual.
The second "P” is for productivity. If a good person is failing at the job, it may be because you have not provided the resources necessary for that person to do the job expected. Hire a great sales person then fail to support him or her with a good marketing effort or a properly priced quality product, and that person will be set up to fail, and for reasons you might have fixed.
Then there is the third "P” – To read the rest of this post about financing your business cleanly, click HERE to go to the full insight at http://berkonomics.com.
To catch up with past insights or to make comments for all to share, go to www.berkonomics.com .
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