Art Jacoby's Monthly Newsletters
Newsletter Library - December 2006
Yearning for Earnings
Wondering how to significantly increase earnings in the coming year? Start by segmenting your thinking into assessment, planning, and execution.
Assessment
Understanding both internal capabilities and external market conditions is the foundation to improved results. Make a concerted effort to discover and understand all of the good and bad news within your company. The good news (strengths) will serve as levers to move you forward, and addressing the bad news (weaknesses) will remove the toxicity that limits progress.
However, internal understanding alone won’t drive earnings growth. Become savvy about your market in order to capitalize on opportunities and mitigate threats. Determine whether you are pursuing the right market niche with the right products, messaging, and resources. If you assess without bias, you’ll capture the information necessary to create effective plans.
Planning
Plans begin with establishing desired short and long term goals. Select them wisely, because they will influence daily behavior. Construct go-to-market, operational, and financial plans that provide a straightforward path to accomplishing your goals (which are, of course, also directly related to the information you gleaned during the assessment process). If you plan without bias, you’ll have a valuable blueprint to execute.
Execution
In the end, even the best ideas and intentions can be wasted if you don’t execute effectively. Strong managers with effective processes who are guiding motivated, capable employees will get things accomplished profitably and on time. Others will do (and make) less.
Stop Yearning. Start Earning.
Jacoby drives business evolution.
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