1 Everyone needs to maintain or increase organizational profit in a time of economic slowdown
2 One proven route to profitability: build the financial and business intelligence in all your employees
In a time of economic weakness, it’s especially important to make sure that all your key people are financially intelligent.
And not only key people - all your people. Back in the Age of Industry, only managers were expected to understand revenue and expenditure. Now everyone needs to ask:
1) How can we increase the numbers above the line?
You can simplify this into four starting points:
a) How can we sell more of our existing products or services to our existing customers?
b) How can we sell more of our existing products and services to new clients?
c) How can we sell new products or services to existing customers?
d) How can we sell new products or services to new customers?
… and what can I, personally, and my team, do about it?
2) How can we reduce the numbers below the line?
… and what can I, personally, and my team, do about it?
3) Do you have employees who cannot sketch the company’s business cycle, or even explain their team’s place in your business process? Do you perhaps have a manager who cannot decipher an income statement?
People, who think like business people, act like business people. There is huge ROI on helping your team to understand what is important, and why it is important in making your organization run effectively.