Monday, July 25, 2011

The One Thing That Can Save Your Business

"Spiraling out of control, that's what's going on in my business" he said.  "We have looked at quality, costs, competition and everything else we could think of.  We just can't figure it out."  The consultant calmly looked over the information provided and asked, "How's your revenue?"  The executive seemed unsettled, "Well you know times are tough. This is the worst economy in years."  ..."And revenue" the consultant asked once more.  "Not what they should be" confessed the executive.

We can become easily distracted from the real work at hand.  Our first order of business must be to increase revenue.  All other problems cease to exist if your revenue is falling.  We must focus on growth.  Here's what growth in revenue can do:
  1. Revenue buys you time with creditors.  If you are improving your position they will hold on longer and become easier to deal with.
  2. More revenue makes employees breathe again.  They can see their work is making a difference.
  3. It provides management with a tool to resolve other issues.
  4. It is required to significantly increase profit over the long term.
  5. It's a sign of a healthy business.
So, let's dedicate this week to improving revenue.  Think outside the box...go and do.

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