SM5.2 Benefit from Theory of Constraints in Retail
The Theory of Constraints (TOC) argues that good growth can be achieved by focusing on the one or two limiting factors or “Constraints” in a production system. This article applies TOC to the Wholesale/Retail sector.
LB3: Quick Goal Setting for Time Poor
Goals for your business are critical, otherwise, how do you know where you are heading? But, if you are not used to setting goals for your business, the first few times can be rather overwhelming. There is a lot of advice on what they should look like. The range of choice in targets and directions can be so overwhelming that you just never get started! This article walks you through a very simple way to get started with goal setting that will see 3 year, 1 year and quarterly goals set in under 1 hour!. Yellow Belt
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COVID Recovery Program Many otherwise healthy businesses are ramping up after COVIDWe would like to help! 12Faces donates its profits …
Simple Free Online Business Plan Template
The Most Successful Businesses have a Plan But Business Plans are time consuming to put togetherOur online template lets you …
C2.5.2 Increase Revenue – Improve Cashflow
Be mindful of the old adage; “Revenue is vanity, Profit is sanity and Cash is king!“. There are a couple …
C2.5.3 Increase Revenue – Sales Revenue
Another long lasting boost to your business can be a growth in Sales. In this section, we outline how such …
C2.3.5 Optimise100: Task Management
As you work through the plan for optimising your existing business en route to increasing Profits, you will be generating a …
C2.5.1 Increase Revenue Increase Throughput
Throughput is the process of moving production through your business. Eventually the production will culminate in cash in your hand …
C2.4.9 Cost Reduction – Research & Product Development Cost
Research & Development (R&D) costs are an issue to address if you have any significant amount of money expended in …
C2.4.10 Cost Reduction – Reduce Staff Cost
Earlier on we wrote about the importance of having “the right people on the bus”. It is crucial to reduce …
C2.4.1 Target Costing
Not all costs should be treated the same. Target costing can be split into 2 groups: Group One: Strategic Costs: …
C2.4.2 Optimise100 – Types of Waste
Waste is a term very widely used in the various optimisation methodologies like Lean. There are many types of waste. …
C2.4.3 Cost Reduction – Products to Discard
Over time, the range of products that you have on offer will grow. Not all of these are good contributors …
C2.4.4 Cost Reduction – Locations to Abandon
You want to decrease costs but you do not know where to start. Have you built up a number of …
C2.4.5 Optimise100 – Zero Based Budget
One discipline applied to costs by high performing organisations is known as “Zero-based Budgeting”. Zero-based Budgets are built from the …
C2.4.6 Cost Reduction – Supplier Relationship
One of the easiest, and least painful, places to start a cost cutting exercise is by looking at your supplier …
C2.4.7 Cost Reduction – Reduce Inventory Cost
Does your business rely on inventory? Then there are quite substantial savings to be made with improved inventory management. Reduce …
C2.4.8 Cost Reduction – Reduce Fixed Costs
Fixed Cost or Overhead Cost are those that will exist even if the business does not hypothetically produce anything. Alternatively, they …
Partner & Affiliate Program
Traditional Professionals are Trusted Advisors! We would like to partner with you as affiliates to provide services to you and …
Getting Virtual CFO for Small Business
Ideal Virtual, Outsourced, CFO Solution for Small Business In a big business, the Chief Financial Officer (CFO) has the vital …
Small Business Strategy Consultant and Coach
24/7 Strategy Solution for Small Business In a big business, the Chief Financial Officer (CFO) has the vital role of …
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C2.3.2 Get Yourself Ready
Your journey to increase Profit will certainly stretch your abilities as a leader and a manager, including your time management. …
C2.3.3 Right People on The Bus
Jim Collins, in his well-known “Good to Great” books, uses this term to refer to having the right staff ready …
C2.3.4 Optimise100: Time Frame & Scheduling
At the outset, we said that Profit doubling could happen in 100 days. How are your Project Management skills? Just …
C2.3.1 Set Your Optimise100 Goal
There can be no doubt that you will not be able to work very far into turning your Profit around …
C2.1 Optimise100 Campaign Outline – Profitable Business
Welcome to the Optimise100 Campaign to create a profitable business in readiness for your business to then go into a …
C2.7 Using the Business Optimise 100 Spreadsheet
12Faces provides a template spreadsheet that you can progressively fill in as you move through the Optimise100 steps. This article provides a user manual on how to take best advantage of this spreadsheet template.
SM1.1 Rapid Profit Increase from Price Increase
As was outlined in the introduction to our Pricing Module, the extra profit from even small changes in the prices of your product goes 100% to your bottom line Profit (assuming demand doesn’t change). Consider a business turning over $500,000 per year. Let us further assume that it makes a 5% profit on that, which gives it a Profit of $25,000. If it increased its price by 1%, and assuming demand remained constant, that would lead to an extra $5,000 in Income. This extra $5,000 profit, over the original $25,000 profit, is an 11% improvement. In keeping with our 80/20 philosophy this article discusses a rapid change to your pricing system that can flow virtually 100% to your bottom line Profit. It is a rapid, and not very subtle, change that you can later adapt to make it more focused and more successful. This is a yellow belt article
C2.2 Introduction to Optimise100 Campaign
Every manager, and particularly an owner operator, is interested in increasing the operating efficiency of the business units they manage.
This article is 12Faces’s introduction to the Optimise100 campaign. A wide range of advice and methods have been distilled into a Professional Development Course. The course recommends a sequence of events so that you can realistically hope to optimise your existing business, and in turn, double your Profits within 100 days. These are outlined at the end of this introductory article. This is a Yellow Belt course.