How To Grow Your Business With Elimination | M4B Marketing | Small business news; tips; networking

Posted by m4bmarketing under Marketing
From http://www.m4bmarketing.com 4083 days ago
Made Hot by: maestro68 on September 24, 2013 11:53 pm

If you want to use simplicity to grow your business, you need to remove complexity. This means decisions have to be made. They do not have to be complicated or take a lot of time. The decisions have to do with the process of elimination.

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Comments

Written by AngelBiz
4074 days ago

Do more with less is the mantra every business should adopt. Apple is a great example of the company that has been successful by following this principle. As someone said - I did not have time to write a 1 page letter, so I wrote 5 pages instead. It takes deliberate effort to reduce complexity, but at the end it's worth it.

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Written by m4bmarketing
4074 days ago

Hi Harry,

Good point about it takes deliberate effort to reduce complexity and perhaps that is why not many companies succeed. Thanks for your comment.

Susan

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Written by lyceum
4075 days ago

Heather: If I understand the Lean principle right, it is all about cutting waste. Then I come to think about it, elimination could maybe go hand in hand with the Pareto principle (80/20 rule).

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Written by lyceum
4075 days ago

Susan: Is elimination in sync with the lean process?

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Written by m4bmarketing
4075 days ago

Hi Martin,

I know a little about the lean principle but not in depth. It probably does a little but the article focussed on decision making. I will have to check out the lean principle in more depth.

Susan

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Written by HeatherStone
4083 days ago

Hi Susan,

So my question would be, using the process of elimination, how do you choose between two very feasible options, say developing a new product or getting your customers to buy more, if you have the time and resources to do either one but not both? As usual, it would be great if you could add your thoughts in the comment section at the BizSugar community, so that all our members will get the benefits of your response.

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Written by m4bmarketing
4083 days ago

Hi Heather,

Another good question. You would use the timeline for when you wanted the additional sales to occur. For example you decided that the extra sales had to occur within the next three months, but the development and launch of the new product will take a year. That will eliminate the new product. Also you would use sales. For example you need only an additional $50,000 in the next twelve months. Looking at both you may see that could be achieved with getting your existing customers to buy more. Another one is profit and you decide you do not what the bottom line to reduce. After analysis you may find that the new product costs will decrease profit even with additional sales in the next twelve months so that could eliminate the new product.

There are other factors depending on your business, but hopefully this answers your question.

Susan

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