Miller’s Monday Morning Message

Andrew MillerMiller’s Monday Morning Message
presented by ACM Consulting Inc.

Andrew Miller on operational excellence, strategy, life balance and everything in between

Toronto – July 28, 2014
The business adage “all business is good business” is simply not true. Every organization has its good customers and its bad customers. And businesses often spend a disproportionate amount of time trying to appease their worst customers. This takes time away from cultivating relationships with their best customers. So why not just let them go? Why not just raise prices for those customers who are not an ideal fit so they either become more profitable customers, or they walk away? Raising prices will have an immediate effect.
 
There are two reasons more organizations don’t do this: they are afraid to lose customers, and they don’t know who are their worst customers. But it’s important to remember that letting these customers go frees up time to build loyalty with your best customers and pursue more of those types of customers.
 
Business growth doesn’t come from your worst customers. It comes from your best customers, and acquiring more of those best customers. Create criteria so you can decipher your best customers from your worst, and focus your growth and customer retention strategies on your best customers and those that have the potential to be your best customers.
 
My book, Redefining Operational Excellence, is now available. Click here to order your copy.
 
To request an interview or more information, please contact:
 
Andrew Miller
416-480-1336

Follow me on Twitter @AndrewMillerACM
© Andrew Miller. All rights reserved. 2014.

Miller’s Monday Morning Message

Andrew MillerMiller’s Monday Morning Message
presented by ACM Consulting Inc.

Andrew Miller on operational excellence, strategy, life balance and everything in between

Toronto – July 21, 2014

In business, there is an old adage, “Under promise and over deliver.” What a load of crap. Why bother setting expectations if you know you can exceed them?One of the suggestions I always tell my client is to not over deliver on features, benefits and services, and to determine what the customer needs and only provide that.

Companies struggle to meet their self-imposed deadlines and promises, even though they may have no additional value to the customer. You may have a policy that you will return a customer’s call within 30 minutes, but what if customers would be willing to wait two hours? You exhaust resources to make that 30-minute deadline, sometimes even missing it. You are creating unnecessarily high expectations with the customer and setting yourself up for failure in trying to live up to those expectations. You are giving customers more than they require.

Think of Quickbooks, a leading accounting software designed for small and mid-sized businesses. There is a great deal of functionality within this software application. However, most customers only use about 10% of those features. The same goes for Microsoft Excel or most enterprise resource planning (ERP) systems. Think of the effort that Intuit and Microsoft and the other organizations put into developing all of that additional functionality. Think about the resources that were used and the pressure that was put on those resources to meet deadlines and manage costs. Yet they were building something that most customers didn’t need.

You don’t need to over promise AND over deliver, you just need to determine what the market needs and provide it better than anyone else.

My book, Redefining Operational Excellence, is now available. Click here to order your copy.
 
To request an interview or more information, please contact:
 
Andrew Miller
416-480-1336

Follow me on Twitter @AndrewMillerACM
© Andrew Miller. All rights reserved. 2014.

Free Teleconference – Mastering Profit Margins

The Five Myths of Mastering Margins teleconference

Do you know the seven levers for dramatically increasing profit margins?

On this free teleconference, I will discuss ways to:

  • Increase profit margins without making any capital investments or inhibiting top line growth.
  • Test your actual profit against your potential profit.
  • Identify and leverage the areas of greatest opportunity.
  • Identify different profit margin levers and master the ability to pull those levers at the right time.
  • Dispel the five myths of mastering margins.

We will go through an exercise to help you identify which of the seven levers will provide the best opportunity for increasing margins immediately.

Join me on Thursday August 14 at 11:00amEST and I will teach you how to master profit margins. All you need to do is sign-up.

If you can’t make it on the 14th, sign up anyways, because I will send the recording to everyone who registers.

There will be a special offer during the teleconference, so you won’t want to miss it!

Email me at [email protected] to register.

Miller’s Monday Morning Message

Andrew MillerMiller’s Monday Morning Message
presented by ACM Consulting Inc.Andrew Miller on operational excellence, strategy, life balance and everything in between

Toronto – July 14, 2014
The newest business opportunity for organizations is to create a community of customers, or business partners, or even employees. Being a part of a community and a support system can have major benefits for all of us. Consider the importance of the neighbourhood you live in, that is a community. Think about the company you work for. That is another community. The gym at which you workout, the products you buy, even the associations you belong to. Those are all different communities.
 
Being a part of a community helps us acquire knowledge and answers faster, helps us challenge our thinking, helps us build stronger relationships, and helps us develop more loyalty.

So what separates successful communities from others? Here are a few ideas:

  • The community members have a common goal (business improvement, good education for kids, neighbourhood safety, and so on).
  • There are people in the community who help facilitate the development of the community.
  • The members of the community have each others best interests in mind.
  • There is a level of trust amongst community members and they share information and ideas openly.
  • The community provides more value collectively than the members of the community would achieve on their own.
  • The community members attract other like-minded people to join the community and add even more value.
A strong community is like a success loop (see figure below) where members are attracted to the community because of its value, and the more valuable members who join the community, the more people WANT to join the community to be a part of it.

What kind of community are you building?

My book, Redefining Operational Excellence, is now available. Click here to order your copy.
 
To request an interview or more information, please contact:
 
Andrew Miller
416-480-1336

Follow me on Twitter @AndrewMillerACM
© Andrew Miller. All rights reserved. 2014.

Miller’s Monday Morning Message

Andrew MillerMiller’s Monday Morning Message
presented by ACM Consulting Inc.

Andrew Miller on operational excellence, strategy, life balance and everything in between

Toronto – July 7, 2014
Eugenie Bouchard, the brilliant Canadian women’s tennis player, has given us all a glimpse of what it means to prepare for success. When she won her semi-final match at Wimbledon last week, she didn’t jump up and down, or scream and shout, or fall to the ground and weep. Although any and all of those reactions would have been justified for a 20-year old who just made her first grand slam final.
 
After the final point, she smiled, waved to the crowd, shook her opponents and the chair umpire’s hands, picked up her bag, and left the court. In the post-match press conference, it was clear that Bouchard expects to win and she was not satisfied with just making the finals.
 
This is a great lesson is preparing for success and not failure. Bouchard views the semi-finals and a step to winning the championship, not as an accomplishment in and of itself.
 
Have you ever made a phone call where you expected someone to turn you down? How about walking into a meeting thinking you know what the other person is going to say? Did you ever enter a competition not expecting to win?
 
We have all done these things. When we do them, we are preparing for failure and limiting our ability to be successful. We do this because it makes it easier to accept rejection. We act like it never mattered in the first place. But it does matter.
 
Have you ever had success when you prepared for failure?
 
My book, Redefining Operational Excellence, is now available. Click here to order your copy.
 
To request an interview or more information, please contact:
 
Andrew Miller
416-480-1336

Follow me on Twitter @AndrewMillerACM
© Andrew Miller. All rights reserved. 2014.