Maximize Your Resources – Part 1
Hello and thanks for visiting my blog! I’m starting a miniseries about how to maximize your resources.
Many companies have great resources that get overlooked. They don’t take advantage of what is right at their fingertips. Getting the most out of resources can help your capital go further and increase your profit margins.
Today we are going to focus on three different ways to maximize what you already have.
- Recognize the Obvious
- Unconventional breakthroughs
- Face the Facts
1. Recognize the Obvious
Sometimes when you are too close to something, it is hard to make out the big picture. Get another perspective. Step back and take a hard look at the resources you currently have in front of you. It is often beneficial to bring an outside source into your business to have them look at what you have. You are surrounded by opportunities that can boost your career and generate more success within your business, make sure you are not overlooking them.
2. Unconventional Breakthroughs
If we sit around and wait for breakthroughs they may never come, you need to create them yourself. A breakthrough is simply doing things a different way or finding something new to do for better results. Businesses should be having regular brainstorming sessions and encouraging team members to express any new ideas they think of. Sometimes you need to step out of the box to create new innovative ideas. CLICK HERE to read my blog about tapping into the unnatural side of the brain to generate breakthroughs.
Here are a few borrowed examples of company breakthroughs:
- A health and beauty company discovers a side effect of a product that can be re-marketed and sold.
- A company creates a roll-on deodorant inspired by the shape and size of a ball point pen.
- The founder of Nike poured rubber onto a waffle iron and created the most innovative and successful running shoe ever.
3. Face the Facts
Creating breakthroughs can only happen if you face the facts of where your business currently stands. Here are a few great questions to ask yourself and team to get an all around feel of the company’s disposition:
- Why did I first start this business?
- Why am I in this industry?
- What products/services did I offer then and which were the most popular?
- Why are my customers/clients buying from me now?
- How did I generate new customers/clients then?
- Which of my marketing efforts were bringing in the best results?
Once you have the answers to these questions you need to extinguish the processes and systems that are not working for the company. Perform a detailed system analysis by investigating the system, identifying the problems and using the information to recommend improvements to the system. This will give you a greater understanding of what strengths and weaknesses are within your current and proposed systems and how to move forward with your breakthrough.
Stop wasting your recourses but instead MAXIMIZE them to the fullest!
Until next time,