According to Bobby Ellis Xspology.com CEO, there are three ways to jump start your business cash flow machine today.
October 4, 2006 (Press Release) --
3 Ways to Jump Start Your Business Cash Flow Machine Today
According to Bobby Ellis Xspology.com CEO, there are three ways to jump start your business cash flow machine today.
1. Growing through creating value and innovations
Any compnay, unlimited by size, history, budget, location or nationality, can exploit a value innovation. But to succeed, a value innovation must demonstrate actual savings and an appreciable benefit that a customer can use immediately. Be sure your value innovation is accessible enough for most customers to grasp its technological benefit and put it to use promtly.
This approach directly contrasts with the concept of “tunnel vision” and “environment determinism,” mandating that business in any given industry must accept their existing realities and compete with industry boundaries. That kind of thinks cause ocean of full ink, because you a commodity that competes on price and minimal product differentation.
You can start by strategically examining your industry’s primary competitive drivers (such as customer preference, product qualities, price and industry standards) to create a “strategy matrix” that displays each factor graphically. Question all your industry and market standards to find opportunities to innovate or create value.
2. Growing through mergers and acquitions
Other companies tend to succeed by focusing on conventional wisdom-growing through merger and acquiring. This is a risky proposition for most business owners. Most successful deal makers build experience doing a lot of small deals, instead of one big deal. Because deal making is much different from running a busienss day-to-day, inexpereince deal makers can suffer disorientation and shock.
Successful deal markers hold themselves to do demanding discipline. They know why they are doing a deal, what price makes economic sense and when to walk away. A Harvard Business Review article identified five reasons to do a deal: 1) To reduce capacity in an industry; 2) To consolidate in a fractious industry; 3) To gain product or market extensions; 4) To acquire intellectual capital, R&D or the like; and 5) To establish a new industry.
Now you know why to merge and acquire other organizations. Deal making is not a big play event, but an everyday event. Successful acquires know that deal making is not ancillary to the company’s business, but is an outgrowth of it.
3. Growing through elimination of waste.
When firms start losing cash the first thing they do is cut back on expense. Although this is a great way to preserve cash is often is much to late. In Japan, the Japanese use the word “muda” for “waste.” What is waste? Waste is the burning of resources without leading to any substantial value, mistakes that require someone to expend energy to fix, huge inventories that build up when supply outpaces demand, redundant or unnecessary processing steps and people waiting around for docuements to finish their jobs.
According to Bobby Ellis Xspology.com CEO, there are three ways to jump start your business cash flow machine today.
1. Growing through creating value and innovations
Any compnay, unlimited by size, history, budget, location or nationality, can exploit a value innovation. But to succeed, a value innovation must demonstrate actual savings and an appreciable benefit that a customer can use immediately. Be sure your value innovation is accessible enough for most customers to grasp its technological benefit and put it to use promtly.
This approach directly contrasts with the concept of “tunnel vision” and “environment determinism,” mandating that business in any given industry must accept their existing realities and compete with industry boundaries. That kind of thinks cause ocean of full ink, because you a commodity that competes on price and minimal product differentation.
You can start by strategically examining your industry’s primary competitive drivers (such as customer preference, product qualities, price and industry standards) to create a “strategy matrix” that displays each factor graphically. Question all your industry and market standards to find opportunities to innovate or create value.
2. Growing through mergers and acquitions
Other companies tend to succeed by focusing on conventional wisdom-growing through merger and acquiring. This is a risky proposition for most business owners. Most successful deal makers build experience doing a lot of small deals, instead of one big deal. Because deal making is much different from running a busienss day-to-day, inexpereince deal makers can suffer disorientation and shock.
Successful deal markers hold themselves to do demanding discipline. They know why they are doing a deal, what price makes economic sense and when to walk away. A Harvard Business Review article identified five reasons to do a deal: 1) To reduce capacity in an industry; 2) To consolidate in a fractious industry; 3) To gain product or market extensions; 4) To acquire intellectual capital, R&D or the like; and 5) To establish a new industry.
Now you know why to merge and acquire other organizations. Deal making is not a big play event, but an everyday event. Successful acquires know that deal making is not ancillary to the company’s business, but is an outgrowth of it.
3. Growing through elimination of waste.
When firms start losing cash the first thing they do is cut back on expense. Although this is a great way to preserve cash is often is much to late. In Japan, the Japanese use the word “muda” for “waste.” What is waste? Waste is the burning of resources without leading to any substantial value, mistakes that require someone to expend energy to fix, huge inventories that build up when supply outpaces demand, redundant or unnecessary processing steps and people waiting around for docuements to finish their jobs.
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