PD Strategies Blog

PD Strategies Blog

Performance and Development Strategies Blog is the informational place to get timely and purposeful articles on the issues that concern you most.

USE THIS LEADING MEASUREMENT TO IMPROVE YOUR SALES AND PROFITS

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If you have had profits in the past there is no guarantee you will have them in the future. To quote investment company advertisements, “past performance is no guarantee of future results.” You need to have a leading indicator. A leading indicator would show current business conditions which would lead to continued success. Two very important measurements are employee engagement and customer loyalty . While sales and profits are very important measurements, they tell you what has happened. Employee engagement and customer loyalty tells you what will happen. When you have engaged employees they will do their best work which will result in loyal customers. You should measure employee engagement at least once per year. The ultimate employee question is, “How likely are you to recommend our company as a great place to work?” When you have highly engaged employees you have promoters of your workplace. A measurement called The Net...
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PREDICTIVE MEASUREMENTS CAN CREATE BUSINESS SUCCESS

PREDICTIVE MEASUREMENTS CAN CREATE BUSINESS SUCCESS
Measurements make a difference in the operation of your business. You may have heard the expression, “If you can’t measure it you can’t manage it.” Well, if you want to have a sustainable business you need to have a strategic plan, which includes those goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having a plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. That, however, is a measure of what has happened in the past. It may not predict what will happen in the future. Predictive analytics is the best way to step in and create your business future. It is far better to rely on predictive measurements to make decisions than to rely...
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HOW DO YOU PREDICT FUTURE SUCCESS?

HOW DO YOU PREDICT FUTURE SUCCESS?
You have finished your strategic plan for next year and created your goals. Now you must implement but how do you know it you are on track for future success? You have had some strong business growth, but that performance is no guarantee of future results. Just because you were successful in the past does not mean you will be successful in the future. I work with business owners in Westchester County New York who define success through their vision, their values, and goals. In addition, they monitor and measure results. You may have heard the expression, “If you can’t measure it you can’t manage it” To begin, you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many...
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MAKE 2018 THE BEST YEAR IN YOUR WESTCHESTER NEW YORK BUSINESS

MAKE 2018 THE BEST YEAR IN YOUR WESTCHESTER NEW YORK BUSINESS
We are working with business owners in Westchester County who are working on making their businesses more successful. These businesses define success through their vision, their values, and goals. Then to stay on top of their business they monitor and measure results. Once you set your goals you need to make sure you are on track. You would not take a cross country car trip without using your GPS to make sure you are on track. So similarly, if you want to have a sustainable business you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. That, however,...
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IF YOU CAN’T MEASURE IT YOU CAN’T MANAGE IT

IF YOU CAN’T MEASURE IT YOU CAN’T MANAGE IT
Another thought this time of year when we are working on our business plans for the next year.   We need to have clear objectives and goals.   You may have heard the expression, “If you can’t measure it you can’t manage it” Well, if you want to have a sustainable business you need to have a strategic plan, which includes those goals and objectives, and a way to measure your progress.   Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it.   For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit.   That, however, is a measure of what has happened in the past.   It may not predict what will happen in the future. Using measurements that predict whether you are...
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FIVE THINGS YOU SHOULD CONSIDER IN YOUR BUSINESS PLAN

FIVE THINGS YOU SHOULD CONSIDER IN YOUR BUSINESS PLAN
Fear of change is an emotion that can become paralyzing.   But change is inevitable and all businesses must expect it. You have probably heard it said that what you did to get you to where you are now will not get you to where you want to go next. Changing the right things and taking the right action is crucial. Here are 5 beginning steps to take in the process of change for better results: 1.         Make sure you know what business you are in. Whether you are in real estate, construction and contracting, graphic design, or consulting you must define what you provide to the customer. For example, Kodak should have realized that it was not in the film business but in the image and impression sharing business. In real estate are you selling houses or assisting buyers in improving their lives? 2.         Get in front of change.  ...
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WHAT ARE LEADING BUSINESS SUCCESS INDICATORS?

WHAT ARE LEADING BUSINESS SUCCESS INDICATORS?
Past performance is no guarantee of future results. You have heard that statement at the end of most investment advertisements and with good reason. Just because you were successful in the past does not mean you will be successful in the future. I work with business owners in Westchester County New York who define success through their vision, their values, and goals. In addition, they monitor and measure results. You may have heard the expression, “If you can’t measure it you can’t manage it” To begin, you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. But that,...
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BALANCED SCORECARD LEADS TO MORE SUCCESSFUL BUSINESS OUTCOMES

BALANCED SCORECARD LEADS TO MORE SUCCESSFUL BUSINESS OUTCOMES
You need a balanced approach to management in order to obtain great business results. Why? You need it because your organization will have multiple goal categories, goals and action steps. The flawless execution of these action steps will result in a loyal customer base. The end result will be more sales and profits. But how do you keep it all on track? The Balanced Scorecard, in my opinion, is the best way to stay focused on all of the organization’s goals and keep your staff on track too. Very simply a balanced scorecard is an ideal form of performance measurement. The business leaders identify a small number of financial and non-financial measures and attach goals to them. When the results are reviewed it is possible to determine whether current performance 'meets expectations. By alerting managers to areas where performance deviates from expectations, they can be encouraged to focus their attention on...
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HOW DO YOU MEASURE SUCCESS IN YOUR WESTCHESTER NY BUSINESS?

HOW DO YOU MEASURE SUCCESS IN YOUR WESTCHESTER NY BUSINESS?
I work with numerous business owners in Westchester County who are working on making their businesses more successful. These businesses define success through their vision, their values, and goals. Then to stay on top of their business they monitor and measure results. You may have heard the expression, “If you can’t measure it you can’t manage it” Well, if you want to have a sustainable business you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. That, however, is a measure of what has happened in the past. It may not predict what will happen in the future....
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HOW DO I TAKE MY BUSINESS TO THE NEXT LEVEL?

HOW DO I TAKE MY BUSINESS TO THE NEXT LEVEL?
Are you ready to take your business to the next level? Most businesses say yes but do not know what that means. First of all you need to know where your business is now. You have to have a starting point. Then you can see where you want to go. Businesses like people go through growth stages and many drop off along the way.  Some businesses may survive due to external dynamics and timing but they will become stagnant and the owner will feel like a hamster on a wheel. There is a lack of entrepreneurial leadership. Let’s take an example. There are numerous great cooks and chefs that feel that because they understand how to create a great meal that, therefore, they would be a natural to open a restaurant. They open the business and make sales. However, the owner is usually consumed with running the business and catering to...
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UNCOVER TRUTHS ABOUT YOUR BUSINESS IF YOU CAN HANDLE IT

UNCOVER TRUTHS ABOUT YOUR BUSINESS IF YOU CAN HANDLE IT
Would you like to learn the truth about your business? Before you answer that question I have another. Can you handle the truth? Sometimes when an organization asks for help and receives feedback it could be surprised to learn some inconvenient truths. If you want to learn how to improve your organization you will want to have an organizational assessment of your business. There are very effective assessment instruments available to generate a fact based picture of organizational performance – I utilize the D.I.AL.O.G. assessment instrument for my clients. However, it is important to have a mutual understanding of the process first. So before I begin the process I want to make sure that it will have a meaningful impact. I will ask the following questions: Will you be open to sharing the results with your organization? And if so, as part of the process I will offer to facilitate the...
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IS BEING IN CONTROL PREVENTING YOUR BUSINESS GROWTH?

IS BEING IN CONTROL PREVENTING YOUR BUSINESS GROWTH?
Any smart business owner knows that a business must have adequate controls.  But is being in control preventing your business growth?  Being controlling can prevent your business from growing.  Why are owners so controlling?  The reason is that most businesses are started by people who are very involved in the product or service.  That is natural.  The owner has to spend a lot of time working in the business to make sure that the product or service gets out, the money gets collected, and the bills get paid.  That is very important for business survival.  Here is a problem that comes up all too often.  A business owner or agency owner spends most of his or her time working IN the business and virtually no time working ON the business. Why is this problematic?  When you start your business you need to do everything or it does not get done. Sometimes...
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