Morning Minute:
8/22/23
“People…Process…Product…Promotion”
Managing these properly will bring you Massive Success.
PEOPLE: Start here. Substandard performance is usually a people issue. Interview and analyze your leaders. A team with poor leaders will perform poorly. Place the correct leaders in positions where they will perform at their best. Replace those who do not support your values. Have your leaders analyze every function of their teams. Ensure that they have the right people doing the right jobs. Have everyone commit to both continuous training and cross training. In today’s marketplace, you must recruit constantly. Every team member must understand and support your mission. Trust and respect for each other and your clients, is necessary to bring you Massive Success.
PROCESSES: Great people with poor processes perform poorly. Have your leaders engage their teams to determine if the processes being employed are getting the best results. By participating in this analysis, team members will support these best processes. Make the required changes that best support your mission. Have the processes written. Train on these processes constantly. Spot check them to ensure compliance. Be open to new techniques, tools, and materials. The marketplace changes constantly. Your team must be able to adapt to create Massive Success!
PRODUCTS/SERVICES: Determine who your ideal customers are. Ensure you are serving them with the products and services they need quickly. Plus, prepare to adapt to what they will need in the future. The marketplace changes quickly so you must be prepared to take advantage of these changes. Amazon started as an online book store. Now they sell almost everything to everyone. Coca-Cola started selling only 1 beverage. Now they sell dozens of brands. For your products, or the materials to produce them, you need a stocking guide. Having the right products or materials available, at the right time, allows you to serve your customers, minimize overaged inventory, and create Massive Success.
PROMOTION: Have your people, processes, and products in place before starting promotions. Effective marketing will drive traffic and sales. However, if the other 3 Ps are not in place you will have wasted time and money. Start by determining who is your ideal customer. Then, structure a plan to motivate them to act. Create a marketing budget based on anticipated sales or gross profits. Determine what mix of online, email, electronic, print, or direct mail is best. Review frequently, making all required adjustments to create Massive Success.
People…Process…Product…Promotion
To learn how best to manage these 4Ps, contact me at lab@larryonlearning.com.
That is today’s Morning Minute.
