The monthly electronic newsletter presented by Andrew Miller.
My newsletter focuses on providing ways to generate dramatic ideas and quickly improve the speed, performance and profitability of your organization.
Five Strategies for Accelerating Growth in 2014
The end of the year is upon us and we say good-bye to 2013. As we begin 2014, I wanted to provide you with five strategies to consider that will help accelerate the financial growth of your business and boost its' performance.
Think about effectiveness, not efficiency. It doesn't matter how efficiently you work as an organization if you are not focused on the right activities, you will fail. Get better at what you're already good at.
Increase customer retention, not customer satisfaction. Customer satisfaction only tells you if you are meeting customer expectations. What if those expectations are too low? Focus on retaining existing customers and having them bring in new customers.
Focus on growth, not cost savings. No organization ever cut their way to success, only survival. Focus on new products and new markets, and growing with your existing customer base.
Focus on boosting performance, not increasing productivity. It's important that we boost performance, meaning how we achieve something, instead of focusing on how productive we are. Performance focuses on results, productivity focuses on activities.
Determine how to drive innovation, not eliminate waste. When you drive innovation you make enhancements and improvements to existing products and services and develop new ones, not just remove waste from existing operations.
All of these strategies are covered in my book, Redefining Operational Excellence, to be released by AMACOM in mid-2014. These ideas are just a sneak preview.
Feel free to use them to make 2014 a prosperous year.