Improve from Status Quo

The normal convention is that if things are not broken, do not fix them. Well, challenge the norm! Entrepreneurs are good at doing that for new ideas.

If things are not broken, they are also status quo. Things that are stagnant are not necessarily desirable. Seek ways to improve the status quo. Find different ways of doing things to make them better.

In an environment when things are slow, review things that are not broken with an eye to make them better. It may serve you well when the economy picks up and you might not have time to review your operations.

Ravi Patel

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What Drives Your Revenues?

While it is a cliché – in order to help a hungry man for the longer term one teaches him how to fish rather than giving him fish – it is a useful learning idea for Entrepreneurs.

For Entrepreneurs to be successful they should not only focus on increasing revenues, but should more importantly also improve the processes that deliver those revenues.

Entrepreneurs might be able to increase revenues in the short-term by doing it themselves. However, in order for revenues to continue growing for the longer term and through other people, they need to establish and keep on improving the processes that generates such sales.

In order to do so, they first need to understand the processes, improve them as necessary and then ensure they are repeatable with no lapse in quality. Documenting the procedures, training the people and monitoring compliance are necessary to implement robust revenue-generation processes.

Determining the drivers of your revenues is a critical first step in improving and enhancing the revenue stream.

Do the Right Things!

Ravi Patel

www.patelCFOservices.com