Business Mastery
How far away from exponential growth is your business?
5 Steps to Start Optimizing
In business, it’s the small changes that lead to the biggest growth. When your business isn’t going as planned, it’s easy to feel as if nothing is working and that everything needs to be changed. The truth is, you’re really only 2mm away from where you need to be.
Opportunities for optimizing and maximizing can be found in every area of your business: lead generation, sales prospecting, sales conversion, up-selling, etc. The key is to understand your company’s current process and results in every area, begin to anticipate where challenges might arise and then mobilize your team with a concise plan to target specific improvements.
In order for the optimization process to be successful, your team needs to be fully invested in the process. Follow these five steps to start optimizing your organization:
1. Define Impact Categories
What are the main areas that impact your business? This could be leads, the sales process, the transaction value, etc. Choose where you want to make the biggest impact.
2. Identify Performance Drivers Within Each Category
Once you have your impact categories, determine what needs to be measured most often to produce the biggest difference financially. Eventually you will look at every area, but it’s most important to start with your key drivers.
3. Look at How to Optimize the Opportunities With Those Drivers
Brainstorm any strategy to maximize efficiency within your key drivers? What’s currently being done? What’s wrong with the current way and how can you make it better?
4. Create an Action Plan
Create a plan of attack for how you’re going to achieve everything. Establish core outcomes, owners and deadlines. Make sure everyone is involved and everyone has a specific task.
5. Measure and Follow Up Rigorously
Over the next 90 days, track all noticeable differences. What immediate changes have appeared?
At every stage of the optimization process, show your team what’s possible in terms of personal reward so they understand the results. To work properly, the optimization process needs manageable, measurable goals. Incremental improvements will reap huge rewards.
Discover your 2mm shift to success when you commit to Business Mastery.
