4 Simple Strategies to Improve Your Business Success Rate..

The 4 Business Process Improvement Steps That Can Transform Your Business:-

1. Analyse the health of the business through its Profit and Loss Statement

This is the first in our business process improvement steps: We need to understand profitability. How healthy are your profits? Are gross profit margins healthy enough? What’s the net profit looking like? Is the company breaking even and barely making a profit? Are there opportunities to go after profit leaks?

2. Find the Causes of the Profit Leaks

The next in our business process improvement steps is about understanding where the sources of the leaks are coming from. Some of the areas to look for are:

Inefficient processes – “it should take this long but in fact it takes longer..”

Poor quality – of information, product, service, etc

Customer returns

It’s important to understand the profit leaks before you begin to plan your improvements. 

3. Understand the total opportunity 

it’s time to calculate what the total opportunity the business could realise, if everything was perfect and there were no profit leaks at all. 

4. Create an Improvement Plan and Track the impact of your activities and make it visual

At this point it’s about tracking progress, and celebrating successes, too. It’s also about ensuring the teams are on target and they’re getting the right support to realise theses improvements.

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