12Faces Skill's Modules are designed to cover a particular topic of interest while advancing the business. An example might be "Improving Cashflow". Skills are designed as 1 month "Sprints" with a workload designed to be achievable by a busy business leader and team in one month. Leaders pick from the range on offer to address the most pressing Growth Factor holding back their business. Skill's Modules are colour coded like martial arts belts. All leaders start at "white belt" level. They move through yellow then blue then black in our system. Like any martial artist, you start with the lower belts and master them before moving on. Every business leader progressed their career and business with this sort of incremental learning.
The Amazing 80/20 Principle has the power to grow your business up to 16 TIMES FASTER and make your life a whole lot less busy and complicated. Got your attention?
The 80/20 Principle asserts that a minority of causes, inputs or effort usually lead to a majority of the results, outputs or rewards. Taken literally, this means that 80 percent of what you achieve in your job comes from 20 percent of the time spent.
The well-known Toyota car company identified seven types of waste that had an impact on Productivity and Profit.
In any business that has been operating for a reasonable length of time, various inefficiencies and wasteful activities will have crept into the system.
Spending time on identifying and reducing waste is spending time on identifying areas for improving your Profit and therefore thoroughly worthwhile.
The Theory of Constraints (TOC) is an important optimising technique that focuses on improving the throughput of work at the (usually) single bottleneck or constraint in the workflow.
There is usually very few, and often just one, thing that causes a logjam in your business.
This is true of many types of business; not just manufacturers of products.
TOC needs to become an ingrained habit so that you are always looking for the opportunities to dramatically improve your businesses throughput.
Among the largest contributors to the failure of both small and larger businesses, are either, they fail to make a Profit or they incorrectly account for their cash and run out of money to pay their debts and tax liability.
Does that ring some bells for you?
Subscribe to see how “Piggy Banks” changes the accounting formula so that you can be confident of not only taking a wage but a Profit as well.