Since there are only 24 hours in every day, the only path to durable success is doing things smarter and more efficiently, with great consistency–it’s what separates the winners and losers. The problem in most companies is not the products or services being sold, but in the skills and creative innovation the entrepreneurs and managers apply to the core profit areas of their business. I have broken these down into 9 departments, and named them the Core Profit Centers. My local diner serves the best cheeseburger deluxe I have ever eaten. 150 people eat there on a good week. Two blocks away is a “Fortune 500” burger franchise that serves 150 people an hour. I assure you the difference is not the quality of the meat, but the prowess of each executive that has a laser focus on these 9 Core Profit Centers.
Once your business is rock solid, consistency and efficiency are the wind under your feet rocketing you to the finish line. Our overall strategy is to supercharge these 9 centers, and coordinate them to look and feel consistent, and moving in the same direction. I have written a report, “9 Areas of Consistent Focus To Quadruple Profits and Transform Your Business: Core Profit Centers” It outlines these nine business centers and their impact:
- Corporate Identity (Core Narrative + Convention Pitch)
- Financial Management
- Sales and Marketing
- Human Resources
- Corporate Culture
- Digital Everything
- Policies, Procedures and Planning
- Time Management
- Consistency and Efficiency
The setting for success includes: consistency, efficiency and coordination. Spending money, time and energy on sales that won’t put money in your pocket is a waste of a great product or service, and of course what might have been the world’s greatest marketing plan. Efficiency, as described in my writing here and elsewhere, cost nothing but brainpower, and every move you make toward being more efficient is money that ends up directly in your pocket.
Effective entrepreneurs and CEO’s know they must master these 9 areas, or delegate the responsibilities. Many owners/managers do a few of these really well, but to quadruple profits and build a strong durable company that you can count on in good times and bad, takes a consistent approach that has a relentless focus on improving and adjusting these 9 Core Profit Center’s.
To begin this process you must start by understanding the Core Narrative. It’s number one on the list, and the starting point for any attempt to supercharge your company and slaughter the competition. Not only that, with a lot of hard work and determination you can create it yourself for free! The Core Narrative is discussed further in my article, “A Great Core Narrative Quadruples profits Every Time.” Once you have done the research and created a KILLER Core Narrative you will be ready to focus on “financial management” and the other 7 profit centers.
The concepts and strategies I teach in relation to the Core Profit Centers will build and increase your long-term competitive advantage and exponentially increase your sales and profits. Each one alone can increase your profits dramatically, but together, coordinated into an organized plan that you and your employees follow religiously, the Core Profit Centers will quadruple your profits. I GUARANTEE IT! When done right, you will create a business which has a durable competitive advantage that will quadruple profits for decades.
Not everyone is capable of mastering all these areas. What world class entrepreneurs do best is bring superstar talent together in an environment of collaboration and innovation. They understand there’s only 24 hours a day, and to supercharge sales, quadruple profits, and slaughter the competition they must work smarter not harder.