Focusing Our “Grow the Business” Initiatives: Portfolio Management

Last week we talked about Governance as the first tool to use to align our “Grow the Business Initiatives”. The second tool for optimizing our business is a Portfolio Management Process.  Our portfolio of projects can be thought of just as we think of our financial portfolio.  Part of our portfolio is an investment in ourContinue reading “Focusing Our “Grow the Business” Initiatives: Portfolio Management”

Focusing Our “Grow and/or Improve the Business” Initiatives: Governance

In most companies, every area has ongoing initiatives whose purpose is to grow or improve the business.  Unless there’s a process for vetting these activities few ever achieve the projected results. This is particularly true for initiatives that cross departmental or functional boundaries.  Because improvement opportunities typically require some level of change, they must haveContinue reading “Focusing Our “Grow and/or Improve the Business” Initiatives: Governance”

Spending Less than 100% of Our Resources Running the Business

As a management consultant I’ve been told by dozens of executives that they’re too busy and focused on “running the business” to “grow or improve the business”. Failure to cordon off the time and resources necessary to attract additional clients or customers, improve our products and services, or develop and bring new products to marketContinue reading “Spending Less than 100% of Our Resources Running the Business”

Leveraging Forture 500 Business Practices: Managing Risk

Fortune 500 companies use a formal process and mathematical models to manage risk. Depending upon the industry, the appropriateness and validity of their models can be subject to regulatory oversight and require certification by an independent auditing firm. Failure of these models to gauge the probability of risk or the resultant cost associated with recoveringContinue reading “Leveraging Forture 500 Business Practices: Managing Risk”

Leverage Fortune 500 Business Practices: Short Interval Management

One of the methods management consultants use to help Fortune 500 Manufacturing Companies improve their productivity is short interval management. This simple tool can be used for teams or individuals and is extremely effective for the entrepreneur with a start-up. As any start-up owner knows time is your most valuable resource. There are a plethoraContinue reading “Leverage Fortune 500 Business Practices: Short Interval Management”