Ever heard the expression, “what comes first, the business, or the businesses’ first sale?”
This turns out to be a perplexing business philosophy question that can help deliver innovative people and process changes that make a lot more money. It is nothing like the stale-old “what came first, the chicken or the egg ” phrase you learned as a kid. Leaders that are bold enough to ask this business philosophy question and that are wise enough to get answers have seen hundreds of millions of dollars in results. The answers teach a lot about why and what the elite 7% of global leaders do that doubles profits in less than three years. Over time I have found a special way you can ask what comes first and eventually discovered a “secret proven tactic” you can use to guide your team to new paradigm levels with the answers.
I invented the “what comes first, the business, or the businesses’ first sale question” as an exercise for change while running businesses and while researching and developing Renaissance Methodology to help CEOs double revenues and profits. During the course of my revenue growth work with business people around the world this particular question shocked me with not the diversity of answers people give but with the impact it has on changing the way people think about being apart of a business. This question is meant to challenge you to grow your customer satisfaction, sales and profits. Ultimately it challenges you to delve into the Pandora’s box opened when allowing people to give their diverse perspectives.
Before you take on your next major entrepreneurial idea, management meeting, revenue growth initiative or operational improvement effort, think about using this question with all the stakeholders involved. By asking them to answer the question together as a team you can start to get people moving mountains. At the very least you may see them:
- Possibly laughing together which breaks the ice
- Thinking outside their own silo/perspective and more like an owner
- Communicating together about improving the core of the business
- Making plans to get greater performances on a individual level
- Working together even better than before to maximize profits
A Proven Revenue & Profit Growth Secret To Guide The Answers To Dollars:
With this brain stretching, business philosophy question, heavy business concept can be introduced and absorbed by the people responsible for the day-to-day grind.
Break the ice and have an agenda in mind. Once you get your team thinking together about how the business operates then you can introduce a significant profit goal. Make certain to vest the team’s success to the goal and they will find a way to make it work on time. The growth secret for implementing 2X profits is found in achieving the four mission critical goals of Renaissance Methodology. The R+E+NxAISS(A+N+C)E Methodology guides the internal process to build four mission critical measurements into the strategic plan and the day-to-day operations. To be in the elite 7% of leaders who double revenues and profits in less than three years, it is vital to build Renaissance Methodology’s four success factors in the strategic plan for all the people to be held accountable and visible for their results. What the elite 7% have in common is that they focus on successfully building Consistent-Repeatable-Processes (C-R-P) so that these four next steps work together symbiotically.
Here are the four profit growth drivers that unlock the secret to massive growth when built into a measurable C-R-P:
- Identifying more buyers than competitors do and utilize in a CRM
- Touch more buyers the right way daily with multiple Modes-To-Market
- Get more buyers buying from you daily with hidden best practices
- Deliver buyers incredible products and service with operations and sales unified and understanding what comes first in business
Implement these four mission critical profit drivers with the new emerging tactical plan being built and follow these seven steps (from Renaissance Methodology) to get substantial growth:
- Make a larger, specific and timed profit goal for you and your team
- Get the people involved in the plan building process and state the goal
- Build a tactical day-to-day operation plan for each person involved
- Make the plan mathematically sound so it supports this higher profit goal and budget available
- Nominate champions amongst the people to help inspire and make it happen
- Schedule meetings so the champions from all levels of the organization get together and collectively build best practices to achieve the stated profit goal
- Evolve the team’s progress using the four mission critical measurements on each team member so accountability and the ability to be an individual star performer exist along with the ability to be a team of star performers
When done right the things learned by asking this powerfully thought-provoking question help people in tremendous ways. The potential it has for you and your people needs to be explored in parallel with your businesses’ and your people’s unique characteristics and goals. Here is what happens over time for many individuals when the, “inner core of how the business operates,” is discussed with them openly by senior leadership:
- Managers become better business leader with the people
- People get involved like never before
- Communication and care for quality step up to the next level
- Sustainable changes are built internally that shorten sales cycles
- Greater revenues and profits achieved in under three years (2X and 4X)
- Top performer retention is greatly increased along with morale
- Fostering of an environment for innovation and freethinking
- Able to integrate acquisitions into unified sales and delivery models
Open up with this question when embarking upon a path of major change with your organization as a whole, with a single division or with integrating acquisitions. Use it with your employees, partners, channels, suppliers, investors and literally all stakeholders. Give them time to answer individually and then as a group and see what happens. Of course people give all sorts of answers to this question and arguably there is no one solid answer for any single business. However, it is undeniable that provoking people’s deep thoughts about how and why a business works, gets them opened up to see and do differently. Great leaders live to capture such a moment of inspiration anytime they can seize such an opportunity.