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Monday Morning Motivators – July 3, 2006
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Espresso business tips are designed to "caffeinate" your mind while your java
gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com
"The greatest thing in this world is not so much where we are, but in what direction we are moving."
-- Oliver Wendell Holmes
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Table of Contents
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1. Lean Metrics: Core-Process Metrics – Linda Fayerweather
2. Steps for Ensuring Success on the Internet – Rebecca Booth
3. Get Nominated for Recognition and Awards – John Meyer
4. To Do This Week
5. Fine Print
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1. Lean Metrics: Core-Process Metrics
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Take a look at your organizations essential activities – those things you must do to produce product and provide service. How are you measuring your results? Do you know your results? Where is the waste? What makes sense to measure?
Core-Process Metrics are used to quantify your results and they can be in two different categories:
1. Results Metrics may include:
~Health and safety
~On-time delivery
~Order-fulfillment lead time
2. Productivity Metrics could be:
~Inventory turnover
~Value added
~Equipment effectiveness.
Knowing what to measure is always the challenge of managers. Fortunately, most companies abound with information and trade associations or industry specific literature will give you keys to tracking your specifics.
Examples of what works:
1. Wind turbines operators know the blades need cleaning by a specific pattern decrease in power generation.
2. A law firm tracks new business and knows the number of new clients needed monthly to generate revenue (they track the number of CLIENTS, not Dollars)
3. Ask a sales person, they usually know the number of NOs needed to get a YES.
Now, find one or two process metrics you will track.
Copyright 2006 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz
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2. Make Time for Marketing
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“I don’t have the time for marketing,” is a common complaint for many self-employed professionals. But with over 8 million business in the US alone trying to standout from the crowd, marketing is a crucial component to everyone’s business. Here are a few tips for helping you market your business better:
• Set aside one day per month for marketing. Then spend that day putting your ad, direct mail campaign together.
• Invite a “B List” client to lunch or for a round of golf. The goal: to deepen your relationship with this client as well as educate them on the different products/services you offer. (Nine times out of 10 they won’t know that you do “that.”)
• Have lunch or coffee with a prospect or colleague.
• Ask for referrals from satisfied clients.
• Next time you’re reading a business magazine, tear out an article of interest and send it to a client/prospect.
• Attend networking and social events. This is a viable spawning ground for Word-of-Mouth Marketing.
Copyright 2006 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com
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3. Ask Your Contacts for Information
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People can help you by passing along information when they hear about someone who needs the kind of product or service you provide. Following through on such leads - for example, a rumor about a new company moving into the area or a news item about the troubles another business is having - could result in new business. Being specific on giving your referral sources what information you want given out is key - maybe get it in writing.
Copyright 2006 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com
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4. To Do This Week
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Review your next six months to make 2006 great.
