Home » Career

Are You Achieving Your Business Goal?


6 Comments

What is the biggest secret to successful business? Why there are extremely successful businesses and pure failures? Why some businesses on stagnation and others skyrocketing?

by ninjapoodles

I recently stumbled on Book Review: The Goal. I’ve read this book long ago but the content is timeless. Really.

I liked how Mike King distilled the essence of the book:


“…the goal to be; to make money. Its not to cut costs, reduce wages, increase efficiency, or any of the other traditional measures that were in place. Its about balancing 3 critical areas of the plant’s operations in order to make more money, regardless of those other measures. These three components need to happen simultaneously in order to have any significance and these are:

  • Reduce Inventory
  • Reduce Operating Expense
  • Increase throughput “

Reduce inventory

I strongly believe that in order to grow the business one needs to focus and Grow Quality – Not Quantity. Tim Ferriss Dedicates whole chapter for E [stands for Eliminating] in his “The 4-hour workweek” book. Focus on small set of great products or services. And deliver the best quality. The more products and services the more friction and operations costs.

Reduce Operating Expense

Overwhelmed with billing, forecasting, reporting, and other operations related stuff? Your team needs too much managerial attention? That is how investment beats the return on it. What is your goal? Writing complex reports, updating redundant systems? Or produce value? Can you estimate your investment and the value you make? The rest is pretty simple math…

Increase throughput

This is where personal and team’s productivity kicks in. Do more with less. Be productive and efficient. Apply Personal Performance Engineering Practices.

Hit your daily, weekly, monthly, yearly, lifetime goal.

Got goal?

28 February 2008

6 Comments »

  • jd said:

    Right – I think chasing money’s the herring.

    Deming taught us quality is the key.

  • alik levin said:

    Chasing money is fine as long as it is not on expense of your core values. Check out coolest poster i’ve just added to my about page.
    http://practicethis.com/about/

    Quality is king. Would you buy your own product or service if it is of poor quality?

    I doubt…

  • Keith said:

    Yes, like they say “the best offense is a good defense”. Reducing operating expenses is a great suggestion, however, we must also complement that with strong product development and marketing. Regards, Keith Johnson, Author “365 Great Affirmations”.

  • alik levin said:

    Keith – loved “strong product development” part. Had a chance to look at this?

    http://practicethis.com/2008/01/17/grow-quality-not-quantity/

    There is great marketing video there. Love it so much!

  • Great things I found on StumbleUpon said:

    [...]   Are You Achieving Your Business Goal? [...]

  • You Have Built A Team, Now What? — Practice This said:

    [...] got your Tag team of Superheroes that shares common Values, you’ve set the Goal, you’ve got The Most Valuable Product to sell. Now [...]

Leave your response!

Add your comment below, or trackback from your own site. You can also subscribe to these comments via RSS.

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar.