Monday, August 30th, 2010
Can you answer these two questions:
1)Do you approach your business and life from a viewpoint of you being cause, being in charge of whatever the circumstance may be, or are you looking at it from being at effect, like a spectator?
2)In other words are you being the Director of your life or merely a spectator?
If the answer on 1 is: cause and on 2 is: I am the Director then you have what it takes to be successful in business and in life.
Knowing that you are the cause point of your business and that you are the one responsible for its success, instead of assigning blame and cause for what’s occurring to others, is the most basic and fundamental difference between having or not having what it takes to be successful.
Renata McDonald
International Licensed Business Consultant
Expert and Lecturer on the Hubbard Management System
Filed under: Ethics & Business by Renata McDonald
Tags: « Business Ethics - Business Strategies »
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Monday, August 2nd, 2010
1. All marketing and promotion expenses are cut. By doing so the business loses the key ingredient for recovery.
2. Points of inefficiency, with both personnel and procedures, have not been carefully looked over. During times like these: errors, loss of time and poor performance are deadly to the success of a business.
3. Personnel (or payroll) is cut before doing a thorough analysis of the business production’s flow lines. It usually results in letting go key personnel (and functions) for the survival and recovery of the business.
4. They reduce the quality of their services in an effort to cut down the cost of goods. The consequence of doing so is not only a reduction in costs but also a loss of clients and so with it goes the gross revenue!
Renata McDonald
International Licensed Business Consultant
An expert in Hubbard Management System
Filed under: Business Strategies by Renata McDonald
Tags: « Business Strategies »
4 Comments »
Tuesday, July 27th, 2010
1. A business’ biggest asset is its clients. Make sure every single one of them is 110% satisfied with your services.
2. These are the times where superb service should be the norm of the day and is performed by every single employee in your firm.
3. These are not the times, as a remedy for a low cash flow and lack of funds, to cut corners and bring the quality of your service down. This will only result in a loss of clients.
4. More marketing and more promotion is what will secure your company’s future. More potential customers have to be reached to obtain the same results that you were getting during better times.
5. Less promotion or cutting all marketing expenses will only bring a failure in growth. Nothing remains the same: you either grow or contract.
Renata McDonald
International Licensed Business Consultant
& an Expert on the Hubbard Management System
Filed under: Business Strategies by Renata McDonald
Tags: « Business Strategies »
19 Comments »
Tuesday, July 6th, 2010
Has your cash flow dried up and you’ve tried all you know that has worked in the past to get new business, but it doesn’t work anymore? The problem is not in what you are doing, but in the sequence and in the volume in which you are doing it.
It is common practice during tough times in business to immediately start economizing, especially on marketing and promotion. This action is fatal and it results in a business shrinking to a point of no return.
The right thing to do is to immediately increase your marketing and promotion and getting everyone busy doing their job better and faster. There is no room for errors at this stage. Products have to flawless. You customers need to receive excellent service. The increased marketing actions will ensure new business keeps coming and in return you will see your cash flow increasing again.
After you’ve promoted, you look at ways to economize. That’s the proper sequence; to reverse it produces an even faster down spiral to where you no longer have enough basic resources to continue being in business.
To your success!
Renata McDonald
International Licensed Consultant
An expert in the Hubbard Management System
Filed under: Business Strategies by Renata McDonald
Tags: « Business Strategies »
No Comments »
Monday, June 7th, 2010
A high personnel turnover stems from two main reasons. The first one is that the hired employee is truly not qualified. It is standard to check the references, education and prior experience on a potential candidate, but that is just one aspect of the process. Have you checked how fast he comes up with the answers to your questions, how swiftly does he walk and move himself, how is he sitting in the chair in front of you? Is he sitting like someone proud of himself or all slouched up like he doesn’t care? How is his personal grooming? People treat themselves very much like they would treat others. If he doesn’t care if he is shaved, if she isn’t well groomed, clean and sharp looking, he or she are likely to not care about others and their well being either. The answers to these questions tell you how well he fits in your team.
The second reason (if they passed the first test as described above) is: are they well trained for their position in your company? Making mistakes is not pleasant for the employee, nor are they for the owner and/ or supervisor. You want the new employee, even if knowledgeable in his exact job, to know the basic procedures of your business. How you want things done. It is vital for any business to implement a training period for new employees. You want them to win and be successful right from the start. Without it the accumulations of losses from blunders and mistakes causes the new person to leave.
I hope this helps.
Renata McDonald
International Licensed Business Consultant
Expert in the Hubbard Management System
Filed under: Business Strategies by Renata McDonald
Tags: « Business Strategies »
1 Comment »
Monday, May 31st, 2010
Any healthy business started on an idea that worked. During great economic times it is very easy to extend one’s financial abilities and go off to new and untried ideas. However one also tends to lose sight of what is actually keeping the business going and the doors open. In such times even a bad investment does not break the bank.
When the economy “pulled the rug from under your feet” so to speak, many businesses found themselves in confusion. I can give you one stable fact: go back to what was a proven success, go back to the usual. What marketing campaign always worked? What piece of promotion always brought business in? What level of service brought you referrals? You might have fiercer competition. This only means that you need to reach more public and work better and faster.
The fact remains that to succeed during difficult times you need to go back to the usual, that which has proven over and over to work. This you will find, in many cases, is what the original business module was based on!
Renata McDonald
International Licensed Business Consultant
An Expert in the Hubbard Management System
Filed under: Business Strategies by Renata McDonald
Tags: « Business Strategies »
3 Comments »
Saturday, May 22nd, 2010
If you want your business to grow you can’t depend on it to do so by just continuing to sell your products to your current customers. You have to get new customers. Your revenue also depends on it. Nothing stays the same: if you don’t grow your business it will eventually shrink or vanish. The biggest return in investment is investing in getting new customers. Your marketing budget should reflect this. Developing new products is also a good strategy to attract a different type of new public. Correctly planning, piloting and implementing new product lines guarantees your company’s growth. I found this to be a common denominator to companies that are expanding despite all the possible adverse external situations that could occur.
Renata McDonald
International Licensed Business Consultant
Filed under: Business Strategies by Renata McDonald
Tags: « Business Strategies »
No Comments »
Monday, May 3rd, 2010
I can guarantee you that management in Apple, Microsoft and any other extremely successful business like them, is completely aware of how workplace efficiency monitors the gross revenue.
In every business managers and employees have a specific hat that they are entrusted to do. Each of their positions should be designed to obtain an end product within the organization. Their combined production adds up the overall company valuable final product: the purpose of why the company exists. This is what the company revenue represents: the exchange for its valuable final product.
How well and how fast each manager and employee does its hat directly affects the company revenue. They all could be “busy working”, but is all the motion leading to the end product of their position? Are they efficiently doing their hat? The answers to these questions explain the state of a business’ gross revenue.
I recommend going around to your management personnel first, and then continuing going down the Organization Chart, asking what their hat entails. What is their understanding of what their position’s end product is? Are they doing, right then and there, something that aligns to their position’s final product?
A business’ gross revenue depends largely on each and every company position being efficiently held.
Renata McDonald
International Licensed Business Consultant
Filed under: Business Strategies by Renata McDonald
2 Comments »
Monday, April 26th, 2010
Have you ever tried over and over to establish some basic procedures in a department only to find that inevitably its personnel would either: a) stop following it b) alter it or c) do something else? When you are faced with such circumstances and you look deeper, you will find, one for one that some unethical conduct exists amongst its personnel.
This has been a tried and true observation from many years and many hours of consulting in all kind of Industries. This “rule” never failed to be true: new procedures or teachings are altered, stopped or abandoned in the presence of some unknown, unethical conduct.
Have you observed this to be true by yourself?
Renata McDonald
International Licensed Business Consultant
Filed under: Ethics & Business by Renata McDonald
Tags: « Business Ethics »
2 Comments »
