3Ps to Become an Effective Manager
"Businesses are based on relationships and relationships are based on people," — Marcus Lemonis.
The?Question: How can you become?an effective manager?
Success in business has little to do with investment capital, a business plan or office space.
It's about the inner workings of your company, more specifically, the managers.
Effective managers have the potential to bring success to any company as they will understand the different nuances from how to manage people, how to take care of the action plans and how to deliver the product/service.
If you want to become an effective manager, continue reading.
The Research
People will have different theories on what makes a good business or a good manager.?
And the reality is, there's just not one way to accomplish either.
But for the sake of learning and implementing, we are going ot focus on one person's theory... the 3 Ps from Marcus Lemonis.
Lemonis is a Lebanese-born American businessman, television personality and philanthropist.
As a multi-billion dollar business owner, Lemonis says a successful business is made up of three things: People, Process, and Product.
Some Advice
In the famous TV Show?The Profit,?Lemonis evaluates small businesses and decides whether to invest in their growth.
To make the decisions, he uses a tool called the "3Ps of Business Success."
It's essentially a simplified mechanism to assess your own business, somebody else's business, or even your personal life.
Your Hack
This week your hack is?the three Ps.
The secret ingredient to be an effective manager is to focus on three things: People, Processes, and Products.
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The three Ps, as they’re often called, act as a cornerstone for everything inside a business.
1. People
This P is about relationships?
Even if you’re going into a business as a solopreneur or a digital nomad, people are an integral part of any business.
People not only refer to the owners but also the front-line workers, the customers, and the relationship between all of them.
2. Process
The second P is the action plan if you will.
How does your company deliver your product and service to the customer?
The supply chain, how do you make it, source, merchandise and sale. All the things that go around delivering the product/service.
3. Product
The final P is what your business has to offer and its relevance in the market.
It doesn't have to be a tangible item you can hold in your hands, it can be a service (consulting, tech support).
If you are asking yourself, “how do I start to be an effective manager?” watch this quick motivational video??
Parting Thoughts
As a manager, many of us fall into reactive patterns. And often forget to be proactive on seemingly non-urgent tasks.
Now that you’ve learned about the 3Ps, here are three questions you must answer every day:
To learn more about the 3Ps including insightful tips on how to be more effective at each of them, read the blog below.???