I Need More Profits

In today’s economy operational leverage is critical for survival. What is operational leverage?  There are many definitions to choose from, but bottom line – your revenue needs to grow at a faster pace than your expense growth.  aka profitability.  Note: – that doesn’t always mean your expenses decrease!

Quiz –

My expenses increased by 4% this year, and my revenue increased by 8% this year.  Am I:

a.   Thrilled

b.  Ready to fire someone

(Answer – most business decisions are not black or white.  The right answer would be a.  if the revenue was a result of core business operations vs. a onetime event;  And,  b. if revenue was achieved by violating operational compliance policy, regulatory requirements or ethical protocols)

Here are 10 ways to increase your profits:

1. Invest in automation that will result in greater productivity that meets (not exceeds) customer demand
2. Eliminate waste in processes, increasing efficiency and sales capacity
3. Invest in coaching and mentoring to accelerate speed to peak performance
4. Focus on Problem Prevention instead of Problem Resolution
5. Align talent with job responsibility (the right people in the right seats on the bus… going the same direction)
6. Early and proactive risk identification and mitigation
7. Long and short term horizon view (don’t be penny wise and pound foolish)
8. Reduce Cycle-time (total time from the beginning to the end of the process) to equal Process-time (the actual amount of time to complete the process)
9. Make the tough calls – get rid of non-performers (people and products)
10. Invest in your leadership team – see what George Buckley, CEO for 3M has to say http://www.usatoday.com/money/companies/management/advice/2009-05-17-buckley-3m-leadership_N.htm

Many think they can’t afford an investment in training, tools or talent now.   If your competition is investing, can you afford not to?

Lead on!

I Need To Know The Rules

There are many women who are embarking a new career, or as some of my clients say starting “their first big girl job”.  Some of the unspoken wardrobe rules can catch women (re)entering the work place off guard.  Here are some ideas that I’ll be sharing with a group of women tomorrow that might  be at best enlightening or at least entertaining.

Wear This… Not That

“Dos” of Career Fashion    Proper fit is extremely important, make sure your clothes are not too tight or too loose. Choose blouses and shirts that completely cover the chest and stomach. Skirts and dresses need to fall either to the knee or below to be of suitable length.  Pants should sit at the waist. Well pressed and stain free clothes and neat shoes are always in style. Colors are your friend! Mix blacks and browns with brighter shades.                       Moderate pumps and tailored flats make a great impression. Attitude is everything! Even if your wardrobe is not brand new, how you carry yourself can make or break an outfit.

“Don’ts” of Career Fashion  The muffin top is definitely not a look anyone wants to replicate, especially in the workplace. Belly shirts and cleavage are never appropriate and not to mention unattractive.             Save the miniskirts for the weekend. Your underwear should never be on display. Wrinkles, stains, rips, missing buttons and shoe scuffs project the wrong image. Avoid wearing too many dark colors together. Flip flops belong at the beach, and save the stilettos and platforms for when you go out on the town. Slouching and bad posture can make even the most flattering clothes unattractive.