Maximize Your Resources
Is it time to take a hard look at your current resources and how you can get the most out of them. Maximising your resources can help your capital go further, and increase your profit margin.
Let’s look at three different ways to maximize what you already have:
· Recognize the obvious
· Unconventional breakthroughs
· Face the facts
Recognize the Obvious
Sometimes when you are too close to something, you can’t see the ‘big picture’. You need to step back, and really take a hard look at the resources you currently have in front of you. You are surrounded by opportunities that can boost your career and help your business become more successful.
Sitting around waiting for breakthroughs doesnt work - you need to create breakthroughs yourself.
A breakthrough is merely a new way of doing things, or finding a new thing to do for the same or better results. You should be having regular brainstorming sessions and encouraging your team to come forward with breakthroughs or ideas any time they have them.
Some great examples of breakthroughs are:
· A health and beauty company discovers a side effect of a product that can be re-marketed and sold.
· A company creates a roll-on deodorant inspired by the shape and size of a ball point pen.
· The founder of Nike poured rubber onto a waffle iron and created the most innovative and successful running shoe ever.
When attracting or strategizing for a breakthrough there are some key objectives you need to keep in mind. They are:
Face the Facts
Before you can put your breakthroughs to work you need to face the facts of the processes and systems that are not working for you and work to correct or get rid of them. System analysis is a good way to do this. Once you have a listing of your strengths and weaknesses, you need to compare those to the strengths and weaknesses of your competitors.
There are some great questions you can present to you and your team to get a handle on where your business is right now. They are:
Once you’ve got some answers to these questions, you’ll know better how to approach your weaknesses.
These three areas will give you a jumping off point for how to utilize your current resources to their fullest potential.
Committed to your success,