Finding Your Company's Big Domino: The Key to Explosive Growth
Robert Prosen
Leadership Coach & Business Advisor | Keynote Speaker | Creator of P3 Process and MORP? | Follow for posts on business growth and accountability | Best-Selling Author of Kiss Theory Goodbye
As a business leader, you know the challenges of driving sustainable growth all too well - burnout, fierce competition, people issues, and revenue plateaus. But there's a simple strategy that can completely transform your company's trajectory: finding your "Big Domino."
What is the Big Domino?
The Big Domino is that critical area or opportunity in your business that, when addressed, unlocks explosive revenue growth and profitability. It may be a neglected revenue stream, an operational bottleneck, poor leadership, a lack of accountability, or an untapped market - hidden in plain sight within your company.
How to Identify Your Big Domino
Pinpointing your "Big Domino" isn't always obvious from the inside. However, here are some steps to uncover this game-changing opportunity in your business:
1. Analyze Your Business ?
Take a deep dive into all aspects of your business - sales, marketing, operations, customer service, leadership, systems, etc. Identify segments or processes that are underperforming, inefficient, or ripe for optimization and change.
2. Follow the Money
Look at where your revenues and profits are being made or lost. Areas that are profit drains or representing missed revenue opportunities could be signaling your Big Domino.
3. Get an Outside Perspective
Sometimes, it takes an outsider's eye to spot your biggest opportunity. Consider working with an experienced consultant or advisor who can analyze your business and processes objectively.
4. Identify Constraints or Bottlenecks
What's keeping your company from achieving its true growth potential? Most often it's people and processes. Issues like outdated processes, obsolete systems, quality issues, talent gaps, unclear accountabilities, poor execution, or focusing on the wrong metrics could be masking your Big Domino.??
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5. Simplify Your Strategy??
Avoid the temptation to implement multiple initiatives at once. If not you won't know which initiative had the greatest impact. Once you've identified a potential Big Domino, commit to solving it with intense focus and discipline.?Once resolved, focus on the next Big Domino.
Success Stories
Alan Rose, Founder of Rose Paving: Nearly Doubling Revenue and Profits
Alan's company was well-known but struggling with commoditization and competition. Despite generating $47 million in revenue, they were barely breaking even. The Big Domino for Alan was shifting from a price-focused strategy to a value-focused approach.
In less than 18 months, revenues soared from $47 million to $83 million along with robust profitability. This focus on value not only improved financial performance but also led to a successful sale of the company at a significantly higher valuation
Giacomo Fallucca, Chairman and CEO of Palermo’s Pizza: Turning High Revenue into High Profit
Giacomo's company was already generating substantial revenue, but profits were lagging. He had countless ideas but needed a clear focus. We identified his Big Domino by analyzing profit and loss across different areas of his business.
We found a segment that was draining profits and addressed it head-on. This singular focus led to immediate profit increases, enabling Giacomo to reinvest in growth. His company reached record profitability and captured market share from larger competitors, all by honing in on the Big Domino. Read more about his success story here.
Find Your Big Domino
With 40 years of experience guiding numerous businesses, I've repeatedly seen the power of identifying and focusing on the Big Domino to rapidly accelerate growth and profitability.
If you're ready to discover your Big Domino and accelerate your company's performance, let's connect and schedule a discovery call.
Thought Leadership Trainer | Cybersecurity, AI obsessed | B2B Content Strategist | Focus on national security, infrastructure, and influence as service at scale.
9 个月Appreciate the nudge to find those revenue streams lying dormant - thanks!