The one thing you should do to improve operational excellence

If there is only one thing you do this week or this month to improve operational excellence in your organization, this is it. Are you ready? Review the three questions below and choose at least one of them to take action on:

  1. Are there any areas of our organization where the way we operate has not been reviewed or assessed in more than two years? If yes, then I guarantee there is a dramatic opportunity to improve performance and profitability in that area.
  2. Are there things that our customers are doing that we could be doing for them that would add value? If yes, then there is a new product or services in the making that you can commercialize and offer to customers.
  3. Do we have the right people in place for the future needs of our organization (NOT the current needs)? In order to answer this question, you need to know in which direction you want to take the organization. Are you launching new products? Moving into new markets? Changing your customer acquisition strategy or your pricing model? Regardless of the direction you want to go, you need to ensure you have the right people to get you there.

By tackling even one of these questions, you will find dramatic improvements to performance and significant increases in profitability.

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 – June 23, 2014
There are only three ways an organization can improve profit margins:
  • Increase revenue and maintain costs.
  • Maintain revenue and decrease costs.
  • Increase revenue and decrease costs.
In order for organizations to be able to master the art of maximizing profit margins, they need to know which levers to pull in order to maximize those margins. Pulling these levers means having the right strategy to take advantage of the opportunities. These levers become even more important when you are in industries like retail where margins are very tight to begin with. Mastering margins is not just about cutting costs to increase profit, it’s about knowing which levers to pull, what strategies to implement, and when to pull the lever.
 
Mastering profit margins is like operating a crane. If you pull the right lever at the right time, you are able to lift a huge piece of equipment or material with ease. You use leverage. Mastering margins is the same. You use a small amount of effort effectively and you are able to raise margins dramatically.
 
Here are the key levers that organizations can pull to master their margins:
  • Pricing and payment terms
  • Procurement and managing suppliers
  • Cost of goods sold
  • Supply chain optimization
  • Customer growth and retention
  • Employee engagement and empowerment
  • Brand recognition
  • Operational excellence
  • Innovating and collaborating
To be a successful and profitable company, you need to know which levers to pull and when. And often you may be pulling multiple levers at the same time.
 
Which levers can you pull to maximize your profit margins?
 
 
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 – June 9, 2014
In my Monday Morning Message from a couple of weeks ago, I wrote that in order to increase profit margins, you needed to create an emotional connection with customers which would create customer continuance (E = mc2). One of the ways to do that is through consistency, so that customers know what to expect each time they have an experience with your organization.
 
Every Sunday morning my daughter and I go grocery shopping at the local Loblaws. This has become the weekly tradition. We go first thing in the morning before the Sunday morning rush to ensure that everything on our list is available and on the shelves. Yesterday, I was unable to go shopping in the morning and was forced to go in the afternoon. This is usually the worst time to go because after the morning rush of shoppers, the shelves are bare and the aisles are filled with employees trying to restock them.
 
But to my surprise, when I went yesterday afternoon the shelves were fully stocked and the aisles were not filled with employees blocking them with giant carts. My afternoon shopping experience went as smoothly as my normal morning experience. Loblaws provided consistency of experience and that is something that I noticed.
 
McDonald’s is another example of an organization that provides a consistent experience. Regardless of where you are in the world, the McDonald’s experience is similar. They have set certain expectations for services and quality.
 
What are you doing to provide a consistent experience every time your customers interact with you?
 
To request an interview or more information, please contact:
 
Andrew Miller
416-480-1336

My new book, Redefining Operational Excellence, is now available. Click here to order your copy.

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