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Maximise Your Resources

Are you making the most of your resources?

It may be time to take a hard look at your current resources to see 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.

 

Unconventional Breakthroughs

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:

  1. Look for the hidden opportunity in every situation.
  2. Look for at least on cash windfall for your business every three months.
  3. The more value for your client, the better your breakthrough.
  4. Create multiple streams of idea to find the best breakthroughs.
  5. Effective breakthroughs remove all risk or resistance.

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 to ask yourself and to discuss with your team, for you to get a handle on where your business is right now.

They are:

  1. Why did I first start this business? Why am I in this industry?
  2. What products/services did I offer then? Which were the most popular?
  3. Why are my customers/clients buying from me right now?
  4. How did I generate new customers/clients then?
  5. Which of my marketing efforts were bringing in the best results?

Once you’ve got some answers to these questions, you’ll know better how to approach your weaknesses and work with your strengths.

 

The above three strategies will give you a jumping off point for how to utilize your current resources to their fullest potential.

When you are ready to take your business to the next level, or, just want help with your strategies, sales, marketing, creating an amazing 'Customer Experience', systems or your team, please contact me at kevin@ascendency.co.nz.

 

Committed to your success,

 Kevin