Notes From My Journal

Creating a Culture of Profit

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Monday, October 1, 2018

Delray Beach, FL – You own four businesses in the same industry. They have the same sort of products. The same access to marketing intelligence. And they have unlimited access to cash. Three of them have been steadily growing their profits. One has not.

So you devote extra time and energy to that business. You work with the key people. You suggest ideas, make introductions, etc.

You feel certain that they are all working hard and with integrity. But even with your assistance, the bottom line is always red.

You wonder: What’s going on?

I have a theory about that…

It’s untested. It may be wrong. But it may be right.

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Miscellaneous Briefs

The Three P’s

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Leadership in business should be about three things that begin with the letter P: prospects, products, and profitability.

Prospects are your customers-to-be. If you want your business to grow, you must focus your people’s attention on their needs.

Products are about your existing customers. If you want them to stay with you, you must constantly motivate your people to refine and upgrade your products. (Think Apple.)

Profitability is the metric by which you can best judge the health of any business. You must inspire your people to do what needs to be done to reach your financial goals.

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