Amit Mittal, Business Coach, Consulting & Advisory.
“You have to dig through the mindset level to diagnose the root causes of problems, and you need to leverage systems thinking in framing problems as well.” – Pearl Zhu
To avoid shattering in business we must follow a systematic approach for growth. The first step we should follow is “Leverage”.
Leverage refers to the money we invest in a business and to convert it into company’s asset.
In Business, leverage is often used to launch new projects, finance the purchase of inventory, and expand their operations.
Leverage can also be defined as a systematic approach in a system so that the organization may run automatically with a proper approach which will make the enterprise profitable.
To work towards Leverage we must approach by taking one step at a time. These steps are:
- 4 Ways
- Leverage – Divide to Multiply
- 9 Steps to Systematizing a Business
- Vision Statement
- Mission Statement
- Organizational Chart
- Positional Contracts
- How To Systems Manuals
- Management Systems
Let us discuss the first step – 4 ways.
The only 4 ways to Leverage in Business is through:
- People and Education
- System and Technology
- Delivery and Distribution
- Testing and Measuring
People and Education:
Ongoing training programs or educational programs are designed to equip employees with knowledge and skills to become better professionals and keeps them up to date on trends that are pertinent to their job. An effective training program must be planned by following a systematic step-by-step process.
System and Technology:
Computers and information systems are essential parts of every business today. Like accounting, inventory management, etc., every business needs to invest in technology to compete. It offers a chance to do more business. It helps businesses to reach more potential customers and develop a business relationship with them by providing better service.
Delivery and Distribution:
Delivery and Distribution are an important part of your business plan. It is all about how you get your products and services into your customers’ hands. To deliver your service systematically you need to follow certain measures such as- using safer product packaging for safer delivery, simplifying the order pick and pack process, qualifying service, or product delivery costs, managing system for freight, couriers, and vehicles, using an order tracking system and staff for service
To deliver your service systematically you need to follow certain measures such as- using safer product packaging for safer delivery, simplifying the order pick and pack process, qualifying service, or product delivery costs, managing system for freight, couriers, and vehicles, using an order tracking system and staff for service delivery, etc.
Testing and Measuring:
Traditional business does not believe in testing and measuring, if the business is successful it is on the place of its destiny, if not, then they try out other things. Anything which is done through testing and measuring will act as a success ladder.
To measure performance in business, you need to track relevant business metrics, that display a measurable value and show the progress of the business goals.
This blog is a short sketch discussing about Leverage and the “4Ways.” Dive deeper into Leverage by our upcoming series. The next blog will be about a detailed study on “People and Education.”
Having a Business Coach isn’t a luxury; it is a necessity that your business must-have.
Accountability is one of the most prominent strengths of working with a Business Coach. It is hard to get the right objective about your business from yourself, but your Business Coach will always tell you the truth, the truth that may be difficult to accept. With years of successful experience, we can help you develop long-term and short-term goals and strategies, provide valuable insight, and improve your business in areas that you might have overlooked.
We know that you may be able to survive without a business coach, but can you thrive?
Madasky Consulting has been helping businesses and focusing on clients to implement logical and easy to apply systems and processes to grow their enterprises. Unlike the consultants that hand you a list of what you are doing wrong, we will help you to make real change in your business that is enduring and transformational.
Reach out to us and we will help you to overcome your business challenges and grow.
MADASKY Consulting, Business Coaching, Consulting & Advising.
Visit us: www.madasky.com
To register for the upcoming events kindly visit on https://madasky.com/events/