To earn billion penny.
Employees around you have thousands ideas how to improve your business, my dear CEO. How to sell more and how to spend less. How to optimize, how to automate, how to make more simple, more clear or more comfortable.
Of course, my dear CEO, you expect a result. Essential result, measured as percentage to your profit. It is cool to say: ‘Our internal innovations help us to increase profit by 5%’.
Problem is simple: it is very hard to invent and apply something with essential one-time effect.
But you have different way, my dear CEO.
You should find an initiative, applicable to the most repeatable process. Repeatable for thousands times. Hundred thousand times. Millions time. Initiative with economy in one pound. Or one shilling. And then - you should integrate this initiative to your processes.
It is simple if the initiative means DO NOT DO SOMETHING. In this case, it is enough to stop paying for this. Do you remember that fabulous story about American Airline's $40K economy after eliminating one olive from each salad served in first class?
However, if your employees should DO SOMETHING more to increase profit - that SOMETHING must be included to their processes. Otherwise, no one will DO that SOMETHING.
So, how to earn billion penny additionally, my dear CEO?
- Look not for most bright initiatives - but for most repeatable.
- Integrate it to the processes
- Repeat the initiative millions times
- Profit!
