Image by Gerd Altmann from Pixabay
When a businessperson has challenges it can be overwhelming.
If you chat with some businesspeople, they believe they have challenges that no one else has. That’s because they haven’t experienced the new challenges before nor have they heard about the problems elsewhere in their industry.
But that doesn’t mean the problems are terminally unique to the person’s industry or business.
If it’s any consolation, no matter what the problem, it’s nothing new. Not to oversimplify, but somebody, somewhere has experienced the same dilemmas.
That’s why there are business processes and problem-solving approaches. So part of the solution is to compartmentalize the problems.
Compartmentalizing is a simple process for a businessperson with multiple headaches. A compartment for a problem might be in personnel issues, poor sales or product complaints.
So break complex problems down into manageable situations or compartments. In order of priority, tackle issues — first things first.
It’s best to start in the first hour of a business day. On the left side of a page, write the problem. On the right side, write the aspects of the problem – including the contributing factors – starting with the major points down to the minor.
What problems do you have?
Compartmentalizing helps in these typical challenges:
Culture issues
In unhealthy companies, it’s possible to read the room – see the problems – usually without even seeing the books to understand the problems and anticipate the appropriate solutions. If a company is lacking in teamwork, morale is poor and profits are weak, chances are a culture change is needed.
Changing a culture is a monumental chore. To implement a cultural change for profits, six steps are required.
Compartmentalizing is a simple process for a businessperson with multiple headaches.
Financials
Of course, it is important to get to the financials. That includes having a grasp on the costs or knowing how to determine the crucial break-even point.
In addition, the problems can either occur e in pricing or in an undiscovered embezzlement.
Human resources
Other internal challenges affecting the control of costs involve personnel and operations. The problems can be widespread – from a lack of employee empowerment to a lack of employee respect for leadership.
Others include the link between financial performance and succession planning, and risk management.
Manufacturing
It might be a manufacturer isn’t up-to-date on developing trends and solutions for manufacturing success. Many businesses love cutting waste and costs for profits by using lean manufacturing principles, but many global manufacturers aren’t getting lean results, according to a study of why manufacturing principles often don’t work.
Innovation
Some businesses fail to change or recognize when offerings reach their end of product life cycle. The solution is to become an innovator.
Marketing
The dangers lie in not understanding marketing plan essentials for best results or the secrets to success in recessions.
Turnaround situations
If problems aren’t solved, a company will face bankruptcy for not implementing a turnaround. For a successful turnaround, new management strategies are vital. Often, 13 steps will suffice for overcoming obstacles.
A financial turnaround requires step-by-step solutions.
So don’t get overwhelmed – compartmentalize for profits.
From the Coach’s Corner, here are relevant marketing and sales tips:
The Six Secrets of Becoming a Winning Sales Organization — Companies with optimal revenue naturally have great sales organizations. Why? Such companies share six common traits that are critical for their sales success.
For Profits, Align Sales and Marketing … Here’s How … – Alignment of sales and marketing is crucial for your success. Incohesive sales and marketing strategies result in wasted resources and a poor return on your investment.
Profits: How to Save on Sales Opportunity Costs — If your sales efforts aren’t leading to your desired clients, here are a couple of questions: How many times have you been burdened by so-called prospective customers who waste your time without buying? How many times has a business or government agency asked for information on projects but used your ideas without paying you?
“You don’t drown by falling in the water; you drown by staying there.”
-Edwin Louis Cole
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