How to flip your business from survival to profitable mode?
The 3 P's.
How to flip your business from survival to profitable mode?
We still think this is the main nightmare businesses deal with, without paying attention to it, they act like nothing is happening.
And that's why almost 91% of businesses are not aligned and fail in the first 5 years.If you want to succeed and make your impact in this market you need to be on top of every detail and kill the main root cause what's impacting your business. You are going to need the 3 P's equation. People, process and product.
People.
For your business to be switched over from failure to world-class revenue mode you are going to need the right people on your team.People with the right profile for every position. Not those that follow commands but those that think on their feet and will give you their thoughts/ideas and the right criticism from their perspective. It's exactly what Steve Job said "I don't hire people and tell them what to do. I hire them so they can tell me what to do". Burn that into your brain. Talent is a key component in a world-class business. You are going to need A-players or turn B-players into A-players.
Process.
To survive you are going to need to sell your product/service. I still see lots of Sales Ops manager always say "Just do what works best for you/Go with the flow/Freestyle". That's a big NO. Remember selling is helping. Helping the customer SEEING and FEELING their pain and how you can cure it with your product/service. This will require deep research and analysis of your market industry and how YOUR buyers buy. The sales process has to be adapted to the market and buyers motion. So you need to use 1 general sales process but you can have different sub processes for all your departments if you offer different services/products.
Product.
To be part of the game you have to create something that is in high demand. Before you're going to invest and throw it out there, you need to do market research and see the actual demand and also where the opportunities you can improve or create a solution. For example, if you want to set up a lemonade stand and there are already 5 lemonade stands in a 200m ratio, you're not going to be very profitable. But if you want to create Artificial Intelligence software for call centers so they can use it for automated customer service. You will rule the market in a few. What also will help out a lot, look for competitors that are already doing it and find out their growth rate over the last 5 years.
People, process, product. I hope you like what I shared with you and that it might be a great help for your business or future company.
We wish you lots of success, growth, and prosperity.