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.
Is Your Business Enterprise Experiencing Financially Tough Times?
Many businesses, both large and small, for profit and not for profit, hit tough times and often don't survive.
The Turnaround30 Campaign examines methods of (1) Rapidly stabilising your business and then (2) Turning around your business that is experiencing a tough patch.
It is designed to carry out within a 30 day period of intense activity. The turnaround will happen as quickly as possible.
Go to the introductory article: C4.0 Introduction to Turnaround30 (T30)
First Step Toward Sustainable Growth
Follow the steps below to commence your 100 day journey,
stripping off your business' "barnacles" that will slow down sustainable growth.
Why this Campaign?
Over time, your business will have accumulated wasteful habits, pricing and costs that will act as a drag on its profitability; just like barnacles slow down a boat!
Your goal is Sustainable Business Growth so it makes perfect sense to scrape off these "barnacles" rather than waste time and money dragging them forward.
Then you can be really serious about growth with your newly streamlined business.
O100 is your tool for optimising to get rid of any accumulated waste.
For further reading go to the introductory article: C2.0 Optimise Your Business Enterprise in 100 Days (Optimise100)