Category Archives: Uncategorized

Six Sigma Certification – The Bottom Line

Six Sigma Training and Certification will teach you that everything to do with your business revolves around the processes that you have and how effective they are in operations. The ultimate goal of Six Sigma is to provide a defect ratio of 3.4 defects per million, which is a very high standard for any business, and especially for one that is facing problems with customer dissatisfaction or loss of sales because of ineffective processes. However, when you are properly trained in the principles and policies of Six Sigma, you will be much better able to understand how the process works, how it can benefit your business and how it affects your bottom line every single time.

(adsbygoogle = window.adsbygoogle || []).push({});
With Six Sigma Methodology, the bottom line is that the bottom line is all that matters. When you focus on anything other than customer satisfaction and achieving profit goals, you will lose sight of what your business is designed to do. No matter how much you enjoy owning a business you have to look at the leger side of things every once in awhile to make sure that your business is serving its intended purpose, and meeting the goals that it needs to be meeting. It’s a lot of fun to be a business owner, and it is always important and interesting to learn new ways to appeal to your customers.Customers are the focus? I thought the bottom line was the focus.In order to achieve successful results in your profitability, you have to have satisfied customers that are committed to shopping with your company or paying for your services. That’s all there is to it. You cannot have an effective business or a solid bottom line if you don’t have a stable and constantly growing customer base to work with. Keep all of this in mind and your business will be much more successful in the end.

(adsbygoogle = window.adsbygoogle || []).push({});
When it comes to having an efficient business and a profitable bottom line, there are many different choices that you can make as to how to handle the situation. However, if you take the time to embrace Six Sigma Methodology and use it to your best advantage, you can often make the process improvement projects that you embark on much easier to manage. By using factual data you will get more relevant and actualized results than with any other method of problem solving that you work with.

Creating Effective Employee Relationships – All About the Bottom Line

The purpose of relationship building in the workplace is pretty simple really. There is value for all sides of the equation and within that, it’s important to acknowledge that there is a bottom line.As employees; indeed as business owners, managers and team leaders, we are all in it for something, because the most of us need the work we do.When we attend work, we do so for some pretty basic reasons. We want shelter to keep us from the elements. We want to be fed and kept healthy. In modern societies we are very fortunate that these are pretty much covered off for most of us.So we need more. The basics – the core rewards that work provides us with – are sufficient to provide the minimum we need. If that was all we went to work for, well then, that’s pretty much sorted!

(adsbygoogle = window.adsbygoogle || []).push({});
The more we need is the cerebral value that work provides for us. The stimulation of the work we do provides a healthiness that is not measured by outward disease. Our mental well-being is provided for by finding stimulating challenges that we enjoy and get personal satisfaction from.Work is not about material reward alone.When we manage others, we take that on as a stimulating challenge that gets our juices flowing, so we too are satisfied from the fulfillment that we get from the achievements we make.Both sides achieving successes in their own personal challenges, are leveraged by organizations to ensure that results from the whole, go to meet and exceed the results that need to drop out for the financial bottom line.If managers and their employees have personal goals they want to achieve and these are aligned with the needs of the bigger organization, then we are all in business pulling together.The glue that binds us is the way we communicate together. And we communicate most effectively by having close working relationships that enable us to make the best outcomes possible, where everyone is a winner.

(adsbygoogle = window.adsbygoogle || []).push({});
That bottom line for the relationships we build is the pleasure – the joy even – we get from achieving what we want from the work we do.It isn’t just about financial reward. It isn’t about getting a company car that’s a bit bigger. It’s not about the pension pot we build.Relationships enable us to work together towards a common goal. The purpose of the relationships we co-create, is the bottom line for all of us, which is very personal, yet always contributes to the outcome our employers expect of us too.So we are all winners together.

Management Style and the Bottom Line

Quite often, human behavior is imitative. We learn how to act by mimicking others’ actions. In the workplace, most bosses manage as they’ve been managed.Imitation may be the sincerest form of flattery; however, some of our role models aren’t necessarily ideal role models. Learned behavior, which is often subconscious and automatic, can seriously undermine efforts to succeed in business.According to research, management style can either benefit or decimate the bottom line. One particular study I recently read found that a negative management style is linked to high turnover. For small businesses, high employee turnover is quite costly and a genuine problem that affects profitability.

(adsbygoogle = window.adsbygoogle || []).push({});
Study authors discovered that managers who provide a supportive and considerate work environment experience significantly lower turnover rates than their counterparts, who operate from a traditional management paradigm, treating workers as disposable resources.An ineffective management style is a common source of small business inefficiency, which inhibits success.Is your management style positive or negative, or somewhere in between? Do you inspire and motivate workers to do their very best, or are you inadvertently de-motivating and disempowering employees?MANAGEMENT STYLE RATERLow 1 2 3 4 5 High1. Do you communicate openly with your employees, ensuring everyone is “in the loop?”2. Would your employees describe you as accessible and approachable?3. Would your employees say you have a good understanding of the problems they face in their jobs?4. Would your employees describe you as flexible?5. Would you help out an employee if he or she had a serious personal problem?6. Do you routinely cross-train workers?7. Do you foster a culture of cooperation within your workplace?8. Do you personally praise workers when they’ve done a good job?9. Do you provide workers with meaningful training?10. Do you ensure workers have adequate resources to perform their jobs?

(adsbygoogle = window.adsbygoogle || []).push({});
Scoring Guide1-15:You operate from a traditional management paradigm. To you, workers are a disposable resource or mere cogs. Expect high turnover and reduced profits if you fail to change your perspective.16-39:You exhibit a mixed management style. You are traditional in many ways, yet in some circumstances you use an enlightened approach in dealing with workers. Shifting your traditional behaviors will reduce turnover and improve your bottom line.40-50:You are an enlightened small business manager. You are adept at handling process and leveraging people. Your approach will lead to efficient management of your small business operation.

The Bottom Line About Sales Leadership Performance

When CEOs look at their sales leaders, what responsibilities do they see they have? Do they see them as customer guardians? Or maybe customer relationship managers? How many CEOs see them as business managers? How many CEOs manage their sales leaders as business managers?From our experience, very few CEOs manage their sales leaders as business managers and often give way to the pressures often applied upwardly by them. Sales leaders have for many years been very good at diverting the attention of CEOs to non-critical tasks, taking actions that seemingly will deliver results but fail to do so. CEOs lose confidence in their sales leaders through the lack of timely actions being taken with deliverable and measurable outcomes. There is a disconnect in the timing with CEOs now talking in months and sales leaders continuing to talk in years.A sales leader can be one of the most important people for company’s growth. Their responsibility is to ensure the sales success of your company. They can try to pass the buck to salespeople but the bottom line is they need to step up and deliver the results with a clear understanding of their impact across the broader company.Sales leader’s decisions immediately impact company operations by the sales results they deliver, the product lines sold, the accuracy of orders taken, pricing decisions. The conduct of their sales force personnel can make or break a company culture and performance.They are responsible for:
The execution of the strategy of what direction your company is headed,
What your company sells and why they sell it,
Which markets to pursue and where the company is positioned in those markets,
The competitive capability against the competition and why you are better or different,
The delivery of the strategy at the customer interface, and
The bottom line of results in revenue and profitability.

(adsbygoogle = window.adsbygoogle || []).push({});
A sales leader who cannot develop effective strategies and execute them to full completion, is of no value to any company. The sales leader must enable systems and processes, administer training that is relevant to the strategy and market, correctly manage productivity and ensure a high level of efficiencies across the sales organization.A sales leader that does not acknowledge their limitation in delivering these fundamental business requirements must accept the consequence of their limitation when results are not delivered. For CEOs they must do the right thing by their company and be honest about where to place blame for struggles and failure to grow sales. The sales people are at all times a product of the sales leader and the blame must therefore fall squarely on their shoulders.The role of the sales leader has matured to such a point now that it is no longer just the narrow narrative of customers and relationships with a management style that allows the business to just flow with the market stream with little guidance. Those clinging to that are certainly not doing the right thing by their company. Sales leaders need to be able to create, implement, monitor, and revise their sales organization consistently, in order to deliver reliable growth. They must have well-defined strategies, processes, and management structure that rolls out through to well defined strategies and execution plans across the sales force. They must have deep measurement of performance of the sales business, not just the salespeople to deliver results.For CEOs that is the ideal person to be leading their sales organization. The reality is that sales excellence requires a multitude of skills and capacities to function effectively and efficiently. Few people in the profession are true management professionals; most individuals employed in management are ill equipped to provide a professional-as opposed to amateurish-level of performance in response to the demands of their positions.”CEOs that employ unqualified individuals will suffer their ignorance and incompetence unless they take drastic action to remedy the problem.”With very few professional sales leaders available or professionally trained for today’s market challenges, the focus for CEOs has shifted to sales leadership development rather than sales leadership acquisition. CEOs need to make hard decisions about their sales organization as this critical role can directly impact their future.They must consider who they are hiring or who they retaining in this critical role. In the absence of quality proven talent, they must to start with raw talent that can be developed and coached to excel. A person with tested core skills and not just rely on ‘gut feel’. A person that is open to being coached and capable of leaving their ego at the door and focus on their own personal development that directly impacts the sales organization.

(adsbygoogle = window.adsbygoogle || []).push({});
The sales leaders must be taught how to drive growth in an organization. Many sales leaders today are only capable of maintaining business and this is reflected in businesses that have stagnated or are achieving on minimal growth. Very few are capable of driving growth through changing markets.Sales leaders need to learn correct timing of decisions, understand how to deliver actions, changes and improvements in a timely manner. They need to change their decision-making from being emotive decisions to being based on hard evidence and facts that can be easily demonstrated to their peers. The facts must be based on consistent information over a period of time and not snap shots based on reactions to sudden (but long simmering) market or internal challenges.CEOs need to change how they manage sales leaders. They need to be critical of reporting and information presented ensuring that the right decisions are being made with consideration to the full impact of those decisions both within the sales organization and across the business.Only then can a CEO be confident their sales organization is being managed effectively.

Managing the Bottom Line

Managing a business is not as simple as one might think it is. As a matter of fact, in order for your business to succeed, one must exert extra effort. Also, you must always monitor the current condition of your business. In order to know how well your business is doing is by monitoring the monetary flow of your business. When we say “monetary flow” or more known by many as “cash flow”, it represents the entire gross sales and revenues. Also, you must always keep track of your net income or “net profit” so as to know how to enhance the performance of your business.One of the essential factors in making your business successful is by creating a financial scheme and periodically checking its status against certain particulars that will pop up monthly. If certain problems are encountered, it is essential that you must solve the problems immediately. Listed below are some of the actions that you must take so that your business will run smoothly and for it to succeed eventually:

(adsbygoogle = window.adsbygoogle || []).push({});
Design a financial scheme. Estimate the profit that you expect to earn on a monthly basis and calculate your expenses.Also, bear in mind that the profits that you have lost can not be recovered. Once businessmen assess their estimated calculations to the actual calculations and discover that the profits are much lower than they expect it would be or the expenses are higher than projected, they would normally decide to “make it up later”. The truth is that, on each month or months when the projections are either too low or too high – low for profit and high for expenses -, that month is gone and can not be regained.Take immediate action. In an event when the profit or revenues are much lower that the projection, take immediate actions by increasing efforts in the sales and marketing aspects. Better yet, it is essential that you find means to raise your rates. Cut your overhead costs if you think that they are too high. Most of the businesses these days do that in order to become more profitable.

(adsbygoogle = window.adsbygoogle || []).push({});
Be “money wise”. It is very important that you must consider various consequences before spending. If you are taking into consideration another business expense – this includes the marketing and sales aspect of the business -, it is important that you must assess the increased profits that you projected against the expense before you proceed.Measure the success of your business based on its profits not on its revenue. Remember, the success of a business is not based on how much money you are bringing in monthly if the expenses of your business are much higher. This is one of the main causes why numerous businesses these days have gone bankrupt.