So You Cut Your Price – Now Recover Margins FAST!

332a3802-5432-4393-97b6-5b5246f0e9feYou cut your price, you downsized your staff and you tried to innovate?  You have even considered the 2015 CEO challenges and strategies focused on human capital, innovation, customer relationships, operational excellence and sustainability.

So what actions should you take now that will assure success as you move forward?  You do not have untold resources available to study all of the potential opportunities.  How can you recover 25% to 65% lost margin, this week, month or quarter?

Business is Process and People Driven

Your business is principally made up of a series of projects, resources, processes and deliverables.  They are either internally or externally customer driven.  Internally, they can range from payroll and accounting, human resources, training, HSE, procurement, administration and more.  Externally, they can relate to management of resources, estimating, bidding, delivering the products and services to meet customer’s expectations and more.  Either way it really comes down to the people and processes as you count on these to delivery results.  If you could find one strategy that could impact your bottom line quickly it would be through the application of “SPEED.”

Application of SPEED

You’ve heard a lot about Lean and Six Sigma as they impact processes in our business.  However, both principles, individually or jointly cannot deliver fast results. Adding the concept of “SPEED” impacts more facets of business and its financials than any other strategy available today.  “SPEED” impacts the time to delivery, allocation of resources, cost of money, efficiency and effectiveness, waste, risk and more.  By focusing on “SPEED” you can impact your bottom-line results FAST.

In order to gain the maximum benefit from the concept of “SPEED” you need the following:

  1. Top-Down Strategy – Commitment to achieving the ROI otherwise it will be construed as another flavor of the month initiative.
  2. Value Focus – Selection of the high value “CORE” business processes that will yield the greatest ROI.
  3. Defined Objectives – Clearly defined goals and commitments.
  4. Bottom-up Redesign – Using the proven “SPEED” implementation model to redesign and acheive the ROI changes.
  5. Implementation – Approve, implement and assure ongoing achievement of the strategic objectives.
  6. Repeat “SPEED” learning for the next high value “CORE” business process to compound the ROI.

Benefits

The benefits of an internal and external “SPEED” program of this nature are overwhelming.  Proven results have yielded 25% to 65% recovery in cost savings, increased capacity, minimize waste, improved profit margin, reduced overhead, improve quality, shortened schedules and cycle times to delivery, creates ecstatic customers,… and more.

For a free introduction and evaluation of how “SPEED” can increase your margins by 25% to 65% in less than a week, give me a call. This short call could result in the greatest ROI you every experienced.