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Will You Add? - Your Business Mission - What the Heck Do You Do, Anyway?
Our point of view, perception, and learning are all objects of our knowledge, and these are things that prevent us from going ahead. "I already know everything there is to know about that. I don't need to learn any more." We have arrived only at the fourth rung of the ladder, yet we think it is the top rung. Whatever the value of what our intellect and our insight has attained, we have to abandon it. If we don't, we put an end to further progress. Even though it has some value, our knowledge has become an obstacle. If we are caught in our knowledge,
Fortunately, there is an easy fix for this problem.
You have to determine your gross profit margin from each of your product lines or services. Get together with your accountant, and figure out what you need to do to separate your revenue and expenses by the major product lines of your business. Then, you can find out your gross profit margin, or the percentage of gross profit you receive from each activity.
The product or service with the highest gross profit margin is your core business activity. It is the bread and butter of your business, and
We are currently experiencing a trend that is shifting our nation from a paper-based to an online system of commerce. With every passing year the internet becomes more deeply integrated into our daily lives. We pay our bills online, we rent movies online, even our biggest auction (eBay) is now an online service.This impact that this trend has had on business is incalculable. In the past, countless hours were spent doing tasks that can now be accomplished with the click of a mouse button. One such service that has recently been optimized with
One of the key attributes of successful businesses is that they clearly know what they do. Defining the goal or the "mission" of your business can be the key to your success.
A good mission statement does three things:
" States what business you are in. " Defines your target market. " Provides inspiration for your business.
One of the best examples of a mission statement comes from Levi Strauss & Co. http://www.levistrauss.com/Company/ValuesAndVision.aspx
"We will market and distribute the most appealing and widely worn apparel brands. Our products define quality, style and function. We will clothe the world."
Clothing the world is a pretty lofty goal, but Levi Strauss has the ability to do this for one reason--- Their founder, Levi Strauss, started the business with a mission and focus.
Levi started his wholesale dry goods business in San Francisco February, 1853. Rather than hoping to make his fortune in the Gold Rush, he created a fortune by wholesaling clothing and fabric to the small stores supplying the thousands of miners and later, families of the West.
In 1872, he was contacted by Jacob Davis, a tailor who had developed a method to rivet the stress points of the pants he made from fabric he bought from-you guessed it---Levi Strauss. Jacob did not have the funds to patent the process, so he teamed up with Levi Strauss to patent the original blue jean in 1873. The rest is history.
Now, if Levi Strauss was your typical small business, he would have probably have spun off in ten different directions in their early years, but the company remained focused on supplying quality clothing and fabrics to the working men and women of the West, and later the world. Rather than focusing on their core market, they would have fallen into the AFAB method...Anything for a Buck.
Most small businesses suffer from this lack of focus.
When we work with struggling business owners, the first thing we ask them is "What is your bread and butter?" What one product or service provides you with the majority of your business profit?
Unfortunately, most business owners can't answer that question. They did not define their core product or service and target market when they started, and end up doing a little bit of everything, and nothing well.
Or, they focus most of their time on a product or service line that they like, without knowing whether it actually is their most profitable.
Fortunately, there is an easy fix for this problem.
You have to determine your gross profit margin from each of your product lines or services. Get together with your accountant, and figure out what you need to do to separate your revenue and expenses by the major product lines of your business. Then, you can find out your gross profit margin, or the percentage of gross profit you receive from each activity.
The product or service with the highest gross profit margin is your core business activity. It is the bread and butter of your business, and
It certainly isn't the easiest job in the world to manage a construction project – and it involves a lot more than knowing how to use tools and build things! Of course construction managers do years of study to learn all the complexities of their role, but onstructionestimating is something that is only mastered through hands on, long term experience. Many contractors hold the belief that residential construction estimating software can cause more harm than good, and this was perhaps the case in the earlier stages of development. Modern day
"We will market and distribute the most appealing and widely worn apparel brands. Our products define quality, style and function. We will clothe the world."
Clothing the world is a pretty lofty goal, but Levi Strauss has the ability to do this for one reason--- Their founder, Levi Strauss, started the business with a mission and focus.
Levi started his wholesale dry goods business in San Francisco February, 1853. Rather than hoping to make his fortune in the Gold Rush, he created a fortune by wholesaling clothing and fabric to the small stores supplying the thousands of miners and later, families of the West.
In 1872, he was contacted by Jacob Davis, a tailor who had developed a method to rivet the stress points of the pants he made from fabric he bought from-you guessed it---Levi Strauss. Jacob did not have the funds to patent the process, so he teamed up with Levi Strauss to patent the original blue jean in 1873. The rest is history.
Now, if Levi Strauss was your typical small business, he would have probably have spun off in ten different directions in their early years, but the company remained focused on supplying quality clothing and fabrics to the working men and women of the West, and later the world. Rather than focusing on their core market, they would have fallen into the AFAB method...Anything for a Buck.
Most small businesses suffer from this lack of focus.
When we work with struggling business owners, the first thing we ask them is "What is your bread and butter?" What one product or service provides you with the majority of your business profit?
Unfortunately, most business owners can't answer that question. They did not define their core product or service and target market when they started, and end up doing a little bit of everything, and nothing well.
Or, they focus most of their time on a product or service line that they like, without knowing whether it actually is their most profitable.
Fortunately, there is an easy fix for this problem.
You have to determine your gross profit margin from each of your product lines or services. Get together with your accountant, and figure out what you need to do to separate your revenue and expenses by the major product lines of your business. Then, you can find out your gross profit margin, or the percentage of gross profit you receive from each activity.
The product or service with the highest gross profit margin is your core business activity. It is the bread and butter of your business, and
It can be extremely difficult to find your ideal job today. The working climate is very competitive, more so than it has been in the last few years, purely because of the introduction of temping or staffing agencies to help resolve problems in the workforce. There have not been enough individuals in certain industries to comfortably staff the various companies that struggle to run from day to day. Getting a job is easy enough if you choose the right agency, especially if you skills are in demand. A temporary secretarial job, for example, is a common
In 1872, he was contacted by Jacob Davis, a tailor who had developed a method to rivet the stress points of the pants he made from fabric he bought from-you guessed it---Levi Strauss. Jacob did not have the funds to patent the process, so he teamed up with Levi Strauss to patent the original blue jean in 1873. The rest is history.
Now, if Levi Strauss was your typical small business, he would have probably have spun off in ten different directions in their early years, but the company remained focused on supplying quality clothing and fabrics to the working men and women of the West, and later the world. Rather than focusing on their core market, they would have fallen into the AFAB method...Anything for a Buck.
Most small businesses suffer from this lack of focus.
When we work with struggling business owners, the first thing we ask them is "What is your bread and butter?" What one product or service provides you with the majority of your business profit?
Unfortunately, most business owners can't answer that question. They did not define their core product or service and target market when they started, and end up doing a little bit of everything, and nothing well.
Or, they focus most of their time on a product or service line that they like, without knowing whether it actually is their most profitable.
Fortunately, there is an easy fix for this problem.
You have to determine your gross profit margin from each of your product lines or services. Get together with your accountant, and figure out what you need to do to separate your revenue and expenses by the major product lines of your business. Then, you can find out your gross profit margin, or the percentage of gross profit you receive from each activity.
The product or service with the highest gross profit margin is your core business activity. It is the bread and butter of your business, and
If you are looking for Wholesale Products or Suppliers this is the place to start.Find how to find the best suppliers for your type of business.What type of Wholesale Products are you looking for? This will depend on the type of business you want and the sales and distribution channels you look for. Are you looking to sell electronics? How about name brand electronics? Will these electronics be new or refurbished? Will you sell to retailers or end users? The type of products you look for will depend on the type of business that's ri
Most small businesses suffer from this lack of focus.
When we work with struggling business owners, the first thing we ask them is "What is your bread and butter?" What one product or service provides you with the majority of your business profit?
Unfortunately, most business owners can't answer that question. They did not define their core product or service and target market when they started, and end up doing a little bit of everything, and nothing well.
Or, they focus most of their time on a product or service line that they like, without knowing whether it actually is their most profitable.
Fortunately, there is an easy fix for this problem.
You have to determine your gross profit margin from each of your product lines or services. Get together with your accountant, and figure out what you need to do to separate your revenue and expenses by the major product lines of your business. Then, you can find out your gross profit margin, or the percentage of gross profit you receive from each activity.
The product or service with the highest gross profit margin is your core business activity. It is the bread and butter of your business, and
How important are staff to your business? That’s sort of a basic question, because everyone knows that without staff you can’t do your own job. But really, how important do we consider our staff? After all, they haven’t been to school as long as we have, they don’t know as much, they don’t make the money we do. Shouldn’t it be easy to replace them when we need to?It’s easy to fall into the trap of under-rating the importance of staff to a business; but it’s at least as bad to have the wrong staff in your organization. Who are the ‘wrong’
Fortunately, there is an easy fix for this problem.
You have to determine your gross profit margin from each of your product lines or services. Get together with your accountant, and figure out what you need to do to separate your revenue and expenses by the major product lines of your business. Then, you can find out your gross profit margin, or the percentage of gross profit you receive from each activity.
The product or service with the highest gross profit margin is your core business activity. It is the bread and butter of your business, and the key to your company profits.
Now, you must focus as much of your company resources as possible on this core activity. Market it, systemize it, and turn your business into a machine for duplicating this product or service over and over again.
What happens?
Well, rather than running around like a chicken with your head cut off, putting out fires all over your business, you suddenly have the focus to know where to spend your time and energy. You know your core, and you can work to make a good thing even better.
This focus will transform your business and your life.
Remember the term "Jack of All Trades, but Master of None"? You cannot become really good at something without focus, and focusing on your most profitable core product or service will make your business even more efficient.
Does this mean that you should never expand beyond your core? Of course not, but you must make sure you are really good at your core product or service before you venture into different directions. Creating a strong bread and butter business will give you the base necessary to expand.
Your core product or service is the foundation for your business. Build it well.
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