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On Friday, I introduced you to the second of three keys for ensuring you succeed in these changing economic times, and that was, "make sure you are empowering those people who are really running the business with solid small business strategy."
Today I want to talk about the 3rd key, [url=http://www.osterblade.com]moncler sito ufficiale[/url] but before [url=http://www.ktbruce.co.uk/hollisteroutlet.php]hollister outlet[/url] I do let me take several sentences to think on the storm blowing through the financial markets.
A dip? A pothole? [url=http://www.rtnagel.com/airjordan.php]nike air jordan pas cher[/url] A sinkhole?
It seems that were in for at least a little dip on the economic horizon. Were in for completely different economic times!
This morning I was with a customer who has been [url=http://www.osterblade.com]moncler outlet[/url] around for a bit and was recalling the economic tough times right back to the 60s. He probably did comment that we have been on an economic run now for the last 18 years. He remarked and I'm in agreement wholeheartedly with him that for many managers this could be a totally novel experience.
Give it some thought for a minute.
What were you doing 18 years back? For most of you, it'd be something quite different. Your position and scale of responsibility will have been totally different from today. Thats why we have started blogging in the way we have been. I foretold current events back in March and the well-known is only now hitting the fan. It implies we at One Sherpa werent having a lend of you when we outlined the necessity to obtain new skills for managing in the new environment.
Somehow we received the title for the Summit right on the mark, which is vital talents to rise above uncertain times.
Anyway, back to my 3rd [url=http://www.giuseppezanottipaschere.com]giuseppe zanotti sneakers[/url] key
Ensure that you know where and how your profit is being made.
As I said above, we've been on an extraordinary boom time for the last 18 years and as a consequence plenty of the management practices that were obligatory in hard times have become completely unimportant and lost from the skills inventory of managers.
In the good time it was simply a matter of [url=http://www.rtnagel.com/louboutin.php]louboutin[/url] increasing your sales as fast as you might, [url=http://www.mxitcms.com/abercrombie/]abercrombie milano[/url] and the profits would typically follow along, whether or not the cash flow was tight. it was not important to know where you made your profit as it all just happened to work itself out.
In the economic times ahead it's going to be more vital [url=http://www.tagverts.com/barbour.php]barbour online shop[/url] to know exactly where you make your profit. There will be much less room for error and non-profitable services and goods will need to be dumped from your business to first survive and then to continue making acceptable profits.
At One Sherpa, we decide a companys performance by taking a look at the movements in their profit, broken down into 3 separate elements:Price / Cost Inflation,Cost Productiveness, andVolume / Mix Change.
Business owners haven't been nervous about this kind of breakdown (latterly) because inflation has been low, volume has been pretty [url=http://www.thehygienerevolution.com/hollister.php]hollister france[/url] high and businesses have generally run along OK.
Think about the level of cost increase running in your business has it increased? What about the results of the petrol price raises? How have peaking interest rates affected the households of your people? What about the massive increase in the price of food?
We used to be able to manage with only 1 major factor volume increases because the other things weren't heavy enough to make a material difference. No longer! In the new environment we'll need to have a [url=http://www.ktbruce.co.uk/barbourjackets.php]barbour[/url] look at all 3 factors and understand why and how theyre affecting our daily business.
I want to [url=http://www.rtnagel.com/louboutin.php]louboutin pas cher[/url] ask you to consider adding your thoughts and relections in the comments area below. One of the reasons for blogging is to extend the interaction and cross-fertilisation of ideas. I actually appreciate your thoughts and comments and if you are ready to share them in the comments section of the [url=http://www.fibmilano.it]woolrich[/url] blog it would increase the value of the articles and give others the benefit of any thoughts and feedback you could have.
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