Margaret Reynolds 
Profit Isle Interview with Jonathan Byrnes, Senior Lecturer, MIT and Author of Islands of Profit in a Sea of Red Ink Jonathan, you are the author of “Islands of Profit in a Sea of Red,” a book that can help companies build profit in a very short time; I’m a big fan. Could you please describe your …
Most strategic plans don’t yield great results. There are a myriad of reasons but one is that they just aren’t very strategic. They tend to be more operational. Often, inspiration is taken from what competitors are doing. If they are offering a new product or service, other companies feel they must too. I call this …
In my experience one of the best tests of a good strategy is clarity around what you won’t do. However, this is also where a lot of organizations struggle–profit and non-profits alike. Because after all, aren’t you in business to cultivate customers? So don’t you want to do what your customers ask of you? Maybe, …
Of course, you say. We provide an important service. No doubt. But do your customers need YOU? Could they get that service from another company and feel (whether you agree or not) that it is comparable? It is interesting to me how many companies can’t even define who their target customers are; they are anybody …
Most companies I know struggle to find the right balance between too few descriptors and too many when describing their customer targets. Others, sheepishly admit their customer is anyone who fogs a mirror and carries a checkbook! When sales are so important to our business, and we can never have enough, why would we ever …
Most of us know who we compete against. We run into them at industry events and we see their materials on the desk of our customers. And while we smile and exchange pleasantries when we see them, we know they are dirty rotten scoundrels. Sometimes when I talk to clients about competitors it resembles the …
Growth comes from the intersection of market needs and organization capabilities. The sweet spot is where your company’s strengths meet customer requirements better or differently than anyone else. The only caveat is that you must genuinely deliver more value through those capabilities. If your company has superior customer service capabilities, that’s great. But answer the …
Ever wonder why strategic implementation is so tricky? Why is it that best made plans go awry during implementation? You are NOT alone. After speaking to thousands of executives from across the country, I have learned it is the number one concern regarding strategic planning. However, it is NOT the number one problem in strategic …
Here are fourteen things you should know: How much revenue each contributes Rank of customers by revenue Rank of customers by unit volume Number of customer orders and trends (ordering more, less, same?) Average revenue per order (hint: frequent small orders are often unprofitable) Average number of units per order (perhaps you can get them …
I don’t sign my email with a smiley face but I know a very well regarded Fortune 500 leader who does! By the time we reach middle management and above we are used to the grind and a bit cynical about making lemonade from lemons, and looking for rainbows and four leaf clover. I get …
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