A PROVEN FRAMEWORK FOR DOING BUSINESS

The Components for Developing and Running a Profitable Business – with Integrity

Many have asked, what are the methods and processes that you use to strategize, plan and manage a business?    While providing a succinct, written overview is a tall challenge, I created a framework that is highlighted here and will be presented in a future book series. The5Ps are the pivotal points to a framework of defining and doing business profitably, and with integrity. Business is Trade, and The5Ps are just a few pieces to the puzzle of creating a going concern, or what is today called a sustainable enterprise. The5Ps framework is the culmination of many lifetimes of learning and experience that puts the art and science of trade into perspective.   The foundation book in the upcoming series of books, The5Ps of Trade, will explore in detail how the five Ps permeate and drive this framework. In this article, I shall present a high-level overview of The5Ps(R) of Trade framework.

The5Ps of Trade Framework consists of 4 components:

1.      GOSPA

2.      PECC

3.      TUMAC

4.      The5Ps

GOSPA – Goal, Objectives, Strategies, Plan and Actions – is a framework that defines the mission of an organization and drives it down to the tasks necessary to achieve that mission.

PECC – People, Execution, Communication and Character – are the elements of leadership that direct and motivate people to follow the person in charge.

TUMAC – Target, Understand, Message, Available and Close – is the proven revenue execution process to move a person from a prospect to a customer. That is, to move an idea from a dream to money in the bank.

The5Ps – Product, Packaging, Price, Place, Promotion – the 5 Ps encompass every facet of the business process necessary to create an idea, develop a product or service, and deliver it to the customer profitably.

As in the real world of business or trade, there are many dynamics that drive success and failure. Just three of these dynamics are 1: The Flow & the Mix, 2. Timing, and 3. Adjustments. The flow includes trends, the movement of resources, and all elements that work in concert to facilitate a result. It is the order in which processes are executed, defining the flow of execution. The mix is in what quantity or proportion the elements are combined to produce the result. Timing is everything. Since it cannot always be controlled, a good leader capitalized by knowing what to do and when to do it. A good leader is also a Change Master. That is, knowing what Adjustments to make, as well as how and when to make them.

WHAT’S NEEDED TO LEAD A COMPANY

First, your passion for achievement is much greater and far more important than your need to earn money. Second, you must be able to see the big picture and also understand the details to reach and sustain that picture. Third, you must be able to zone in on win-win solutions. Fourth, it is tremendously empowering to be courageous with strong fortitude. Fifth, not necessarily final, it is essential to have a base level of knowledge acquired from well-rounded experience or a good MBA program; and to have successfully applied that knowledge in a position of responsibility. A quintessential leader can mitigate the absence of one of more of these characteristics by recruiting and motivating people who do have them. The leader must recognize what is missing and be capable of acquiring what is necessary to fill the gap.      

PROFIT WITHOUT INTEGRITY IS FAILURE

You’ve got to pay now, or pay later.  I have heard that from a few successful business leaders over the years. It has proven true, over and over. If you make a healthy profit with lies, or by hurting others, it will catch up with you. I was blessed to have been raised with a firm foundation that has been reinforced and strengthened by life’s lessons. I was taught:

To listen beyond the words

To see beyond the vision

To feel beyond a touch

To use all 21 senses to live gloriously  

Remember, desire will create a much more valuable result than fear.  Leading through fear reduces productivity, creates resentment and other problems. A true leader knows how to identify and fuel desire.  (positive/productive/valuable)

The thirst for wisdom, solutions and integrity drives the successful business person. Once these ambitions have been achieved, a sustainable business is likely the result.

Copyright ? 2014 ACT INC.