Make More Money Faster - The Secret
What can you take out of a business and leave it better than it was before?
How can you remove something very basic and yet have the business generate more income then it could before?
The answer is Time. Take out Time.
If a product or service takes too long to get from an idea stage to fruition, or from the store-room into the customer’s hands, it’s costing you money. Find ways of speeding things up in any business and you are automatically raising your income and success.
Working with a City of London broker in the mid-90s, I succeeded in quadrupling company turnover within a year through careful streamlining of the entire sales procedure, and by installing production monitoring systems which cut out wasted time.
As the consultant for a musical equipment rental company I increased company turnover and profitability by 33% within a year, by training key executives in the use of productivity monitoring systems and cutting out wasted time.
In one of Northern Ireland’s largest chiropractic clinics, by removing unnecessary slows and hindrances to patient care, I helped to increase throughput from an average of 200 patients per week to 500 patients per week with the resultant massive upsurge in income.
All of these successes were based on taking out unnecessary time and wasted energies.
How is this done?
You have ask: 'What is slowing my business down?'
Your success in these difficult economic times is not assured simply because you’ve been in business for a while or you’ve reached a certain size.
Older companies can go out of business overnight; new companies can go from start-up to a turnover of billions within a year.
The key to success is how fast you can get ideas into operation, and how speedily you can deliver.
This involves bigger risks sometimes too -but isn’t the biggest risk to your business surely that it can go bust?
In the case of the City of London broker described above, the traditional approach of assessing situations and working methodically through each phase of the business would have proven too slow in a very competitive market. Making cuts in operations, then changing marketing, then making improvements in product lines could have taken weeks. What the company was marketing was a viable and worthwhile product already -so it was simply a case of getting that product into customers’ hands faster.
Streamlining the complete sales procedures, and installing simple production monitoring systems cut out most o