The Road to Business Success - 9
Here’s a technique I’ve used with clients to help them thrash their competitors. It becomes even more relevant when you face financial stress.
Work out the average cost of one unit of product (or of service) across the range of your products (or services).
Then take 75% of it. Use this as a ‘game changer’ target.
Develop a plan to achieve this target using a Hoshin Grid.
Hoshin Grid Example (See Fig 14.1 Spreadsheet under Bonus Content tab).
Agree the three breakthrough goals at the top, (which must include a step change in productivity).
Define the strategic objectives to achieve these goals at the right.
Identify up to ten improvement activities at the bottom.
State the three key metrics you need to achieve to hit the goals at the left.
Implement the plan.
Repeat every two years.
I hope you find the above guidelines help you to implement your change programs more smoothly. Enjoy your success. You can become the best in your business.
Apply the thinking in the ‘Elite’ Business Series of books associated with this website, and Beat the Competition!
Let me know how you get on.
Contact me at jim@oneoftheelite.com
Thanks for visiting,
Jim McCallum
