New Customers & Business Growth

If you want your business to grow you can’t depend on it to do so by just continuing to sell your products to your current customers. You have to get new customers. Your revenue also depends on it. Nothing stays the same: if you don’t grow your business it will eventually shrink or vanish. The biggest return in investment is investing in getting new customers. Your marketing budget should reflect this. Developing new products is also a good strategy to attract a different type of new public. Correctly planning, piloting and implementing new product lines guarantees your company’s growth. I found this to be a common denominator to companies that are expanding despite all the possible adverse external situations that could occur.

Renata McDonald
International Licensed Business Consultant

Exactly how is the efficiency of a workplace related to its gross revenue?

I can guarantee you that management in Apple, Microsoft and any other extremely successful business like them, is completely aware of how workplace efficiency monitors the gross revenue.

In every business managers and employees have a specific hat that they are entrusted to do. Each of their positions should be designed to obtain an end product within the organization. Their combined production adds up the overall company valuable final product: the purpose of why the company exists. This is what the company revenue represents: the exchange for its valuable final product.

How well and how fast each manager and employee does its hat directly affects the company revenue. They all could be “busy working”, but is all the motion leading to the end product of their position? Are they efficiently doing their hat? The answers to these questions explain the state of a business’ gross revenue.

I recommend going around to your management personnel first, and then continuing going down the Organization Chart, asking what their hat entails. What is their understanding of what their position’s end product is? Are they doing, right then and there, something that aligns to their position’s final product?

A business’ gross revenue depends largely on each and every company position being efficiently held.

Renata McDonald
International Licensed Business Consultant

You cannot establish any new or basic procedures in the presence of unethical conduct

 Have you ever tried over and over to establish some basic procedures in a department only to find that inevitably its personnel would either: a) stop following it b) alter it or c) do something else? When you are faced with such circumstances and you look deeper, you will find, one for one that some unethical conduct exists amongst its personnel.

This has been a tried and true observation from many years and many hours of consulting in all kind of Industries. This “rule” never failed to be true: new procedures or teachings are altered, stopped or abandoned in the presence of some unknown, unethical conduct.

Have you observed this to be true by yourself?

Renata McDonald

International Licensed Business Consultant

http://mybusinessconsultants.net

How is simplicity related to your ability to be at ease with something?

Have you ever felt that things got too complicated in an area of your business? And because of it, it became harder and harder to get any production out of it? If you look deeper you will find that you are not at all at ease with that specific area and it has become harder and harder for you to deal with it. You start to resent going into to that area and find yourself getting gradiently more and more frustrated. That’s when an executive finds himself making rush decisions which often turn out to be incorrect.

The solution to such a situation is to raise one’s own ability to be at ease with the area by getting back in it, rolling up your sleeves, working with your manager and your staff. Observing what’s going on, communicating with them while analyzing the area. Get familiar with it again (or newly), find out the ins and outs of it.

You will soon find that to the degree that your own ability to be at ease with it increases, the more “uncomplicated” it becomes.

 Have you experienced this yourself?

Renata McDonald

 International Licensed Business Consultant

http://mybusinessconsultants.net

Results! Business Turnaround

Results!

How do you cope through tough times in business?

 Statistics and data evaluation are key to know and understand when you are trying to turn around a business during tough times. It is very easy to make the mistake of assuming you know.

Your intuition might be right, but only by evaluating raw statistics and pertinent data to the area you are troubleshooting, you can be sure. Not having statistics for all areas such as of Human Resources, Operations, Marketing and Sales, not just Financials, is like driving a car without having a speedometer, a fuel gage and so on. The car ends up driving you! The Financials are the end result of HR, Operations, Marketing and Sales effectiveness.

The question then is: are you driving your business? There is an exact methodology for establishing which statistics should be kept for each area of a company. They tell you everything you need to know as a CEO, Manager and Administrator. You can predict vital situations if you know how to read them. They put you in complete control.

Renata McDonald

Licensed International Business Consultant

 http://mybusinessconsultants.net

Are you looking for security in 2010?

The best and only security you can count on is you. It is your self-confidence, your ability to create, to be imaginative. That’s the only real security. Knowing that you can count on yourself to go out and do a good job. It is believing in yourself.

With that you can rebuild a business and regain wealth. This is the only real security there is. This is the one that counts.

Renata McDonald International

Licensed Business Consultant

My Business Consultants

http://mybusinessconsultants.net

2010 is around the corner, are you ready?

Make a Smilebox slideshow

Productivity leads to profitability

A company is really a group of individuals joined together by similar or common purpose.

Every individual has a specific job and a valuable final product to obtain. The combined valuable products should add up to the company mission statement.

Each employee and executive is either doing his job and achieving his position’s valuable final product, or he isn’t. This could be caused by a lack of training or by an unwillingness to do ones job.

Employee’s performance on their job can be measured by assigning a statistic that measures how well he is obtaining his valuable final product. Statistics can be reviewed weekly or even daily to determine the employee’s productivity. High productivity leads to profitability.

Determining the valuable final product for each position in the company and assigning the proper statistic to monitor productivity are of vital importance amongst the many tools a manager can use to increase profitability.

Renata McDonald

International Licensed Business Consultant

http://mybusinessconsultants.net

Business Conduct: Morals versus Personal Integrity

 

Business morals vary from culture to culture. They tell you what “you are supposed to do…” and they only work in today’s society as long as they are helping in creating a more ethical business environment.

Sometimes business rules based on morals are out dated and no longer apply in the 21st Century as they are hindering business survival rather than aiding it.

 On the other side, when business conduct is based on personal integrity it is universally respected and accepted. It follows someone’s ethical judgment /code of honor and it brings about prosperity.

I always observe these two factors in business: are these executives driven by rules and morals or personal integrity? They give me an idea of how much can I trust them in their dealings.

What’s your take on this?

Renata McDonald

International Licensed Business Consultant