A manager of people needs to understand that all people are different. This is not ranking people. He needs to understand that the performance of anyone is governed largely by the system that he works in, the responsibility of management – W. Edwards Deming
According to Google’s own statistics, as an employer, the best fitting person in a given position is up to 300 times more effective than a merely average one. Therefore you should consider it of paramount importance to make sure you have the best people for your organization.
Improve your people
Systems improvement should never be a one time project. You should have processes in place for achieving continuous advancement. For example, management techniques such as Lean Six Sigma make it possible to dramatically reduce waste and increase reliability of standard processes. The result is a much faster process speed, reduced capital invested in operations, and much higher quality.
A simple way to improve your operations is by looking for ways to improve ROI (Return On Investment) in your business. Start by defining the potential returns you get on a given investment — and in areas where you do this already, look for more intelligent ways to have it done. Rather than making it your goal to just increase sales, be more specific and aim for raising sales in a certain month from a particular sales representative or distribution channel.
Then, calculate your current return on investment, and use that as a benchmark when you consider your options. How can you increase revenues (without raising costs enough to affect your profits) or reduce costs? Look at both overhead costs (non-production related expenses like phones, insurance, and rent) as well as production costs like labour and materials.
Not every investment you make must have a dollar figure in terms of expected return, but every investment should have an identifiable benefit, and you should be able to assess in an instinctive way whether it is worth your while.
Marketing represents one of the most powerful ways to increase revenue, but there’s no reason to simply sit and wait until inspiration strikes. Make marketing optimization an ongoing concern, and start small.
Improve your marketing
Alex Pejak is an economist currently working on a few projects in Australia, including one for CBIS.
She is interested in topics related to project management and business
You can follow her on Twitter @AlexPejak
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