Speed up the path to sustainable success!
We know that trying to work out what’s wrong with your business, and how to fix it, is an overwhelming prospect.
You have to work out the problem and then work out how to fix it.
All the time, you are trying to keep the lights on in the business.
We take a lot of the pain out of that with a simple diagnostic that lets you drill down on problems then find possible solutions.
It saves you a lot of time!
And, it can throw up possibilities that have not yet occurred to you.
Try a Solutions test drive right now!
12 Types of Business Problems and Solutions
We call ourselves 12Faces because we think there are 12 main types of business issues to be resolved.
They will vary for every business and they will change over time for yours as you fix them issue by issue.
Get started by clicking on the cluster below that seems most relevant to your particular issue.
That takes you to a drill down range of possible solutions till you find the best approach for you.
If you don’t know what is wrong, start here!
Six relate to the business. Weaknesses in any of these areas will damage your business (remember the adage “a chain is no stronger than its weakest link”).
Revenue Creation
Revenue, or Income, is the lifeblood of a business. Learn more about how things like sales, marketing, pricing & product range can help boost your revenue; and your business. You can increase your revenue with several different approaches that don’t necessarily mean having to focus on selling more. Also scrutinise the areas of your business that directly relate to Revenue increase to see if you can benefit from other techniques as well.
Operations
Operating Costs are the costs that rise and fall with the volume of work you do. They include Production Costs and the Cost of the Goods you buy for resale (COGS). Reduce these by improving productivity as discovered by Henry Ford and later improved by Toyota. These are the repeatable routines that keep your business ticking over. Things like like workflow, variable costs & inventory
Overheads
Are your Overhead Costs (AKA Fixed Costs) high? Reduce these costs and improve business profitability. Overhead costs include rent, permanent labour and other costs that do not fluctuate with your day-to-day production levels. They have a direct impact on your Operating Profit.
Information Systems
Effective business information systems are paramount to the sustainable operation of your business. If you don’t know what’s broken, you can’t fix it! They also tend to be undervalued. Often, because their current systems are not doing a good job, business owners have not learnt to value what insights a good information system can contribute to improving your profitability.
People Issues
Staff management is crucial to the sustainable operation of your business. Labour is often one of the largest costs in a business. Its is also often a relatively fixed cost so can have a big impact of profit during a downturn. Managing staff successfully is the key to a successful operation. This includes supplier management.
Plan & Measure
Measuring results and incorporating that information into your plans is a vital skill for continuing business health and success. Drill down our list of options to find what you need.
And the second six relate to you as Owner and your Team. In other words they apply to the individual, not the business as a whole.
Decision Making Skills
Are you struggling with the business problem solving process? Would you love someone to brainstorm these problems with? Learn about the 5 whys and 5 Hows and how to solve complex problems surprisingly easily. Learn how the 80/20 Rule & Constraints convert potentially dozens of things you could do into 1-2 you MUST do first. Shows the fastest route to success,
Personal Development & Self Management
As a business grows, there are more people to manage and often tougher decisions to make. If your background is not management, it is important that you do some Personal Development to keep yourself up with the management expertise your business needs from you. You can also reduce your stress by improving your leadership skills, learning how to work with co-founders and managing your time.
Team Management & Leadership
Staff management is crucial to the sustainable operation of your business. Labour is often one of the largest costs in a business. Its is also often a relatively fixed cost so can have a big impact of profit during a downturn. Managing staff successfully is the key to a successful operation.
Planning
Every business leader must take control of the design and implementation of the direction for their business. Developing a Business Plan is the first crucial step toward this. If are you selling your business, a different type of Plan is important to ensure you get the best selling price. These don’t need to be elaborate documents that end up sitting on a shelf gathering dust. Some best practice plans can be as short as just 1 week! Develop a Business Plan that will consider what lifestyle YOU want and where your business is at in its life cycle. What type of industry are you in? Know where you are heading and where you want to get to. Plan now!
Performance Management
See how and why to measure and monitor business performance and finances. There are simple trend graphs and business ratios that you can monitor in minutes per Quarter to get an indication if your business is developing a weakness somewhere. Monitor and manage Revenue creation, operations and production; overhead costs; management accounting systems; cash flow and liquidity; business financing and end up with a sustainable business. Sounds like a lot of tedious work; but it doesn’t have to be.
Workflow Efficiencies
It is crucial for your business to learn skills to prioritise tasks, motivate staff, reduce waste, manage inventory to create operational efficiency. Note that all improvements here go straight to Profit. Reduce costs by improving productivity as discovered by Henry Ford and later improved by Toyota.
This article was provided by Scott Williams AO FAIDC. It describes the way best practice in many management areas has been brought together in the 12Faces GamePlan System. The Goal is to provide an easy to use and repeatable “flywheel” to improve small business owners’ outcomes. Scott is the Founder of NFP small business support services 12Faces and MentorSME and has a Philanthropic Foundation supporting students in education. Scott’s business Petals Network was National Small Business of the Year and 4 times in the Top 100 Fastest Growing Australian Businesses LinkedIn