Think Daily for Businesspeople Messages

August 17, 2017

Long Term Planning Doesn't Work

Larry Janesky: Think Daily

The world is changing fast these days. Long term planning is to make too many assumptions (guesses). When you find any one is wrong, your whole plan is out the window.  

We can’t figure out the business in the board room. We have to get out there and try things. By trying, we learn what to do next.

What are you trying now?

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August 16, 2017

Profit is just a "spread"

Larry Janesky: Think Daily

Net profit is just a difference between the cost of running our business to supply what we do for our customers, and what we charge/collect for it.

To make a net profit or more of it, we just need to increase the gap between them. We can lower cost or charge more.

To lower cost, we can lower our direct cost of producing our product or service, or lower our fixed cost.

Charging more may involve increasing our prices or producing more that customers will pay us for without increasing cost (much).

However we do it, we must make a profit while creating and keeping customers, or we are toast.

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August 15, 2017

Investment or Consumption?

Larry Janesky: Think Daily

When we spend money that brings no future value, it’s consumption.  

When we spend money on something that either goes up in value or makes it easier to create value now and in the future, it’s an investment.

We should not be fooled or kid ourselves as to which is which.

The higher the ratio of investment to consumption, the better.

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August 14, 2017

What should your job be now?

Larry Janesky: Think Daily

As an organization grows and the challenges change, a leader needs to ask this question from time to time.  If a leader doesn’t grow and adjust, and be the person they need to be for the challenge at hand, they will get stuck doing the leader job the old way, and not be able to meet new challenges.

What should your job be now?

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August 11, 2017

"I know you've got a million things going on…"

Larry Janesky: Think Daily

Some people acknowledge that I am very busy and as they ask for a few minutes of my time they say, “I know you have a million things going on…”

Well, I guess it’s true I am busy, but not like they think. I’m not unavailable at times because I have “a million things going on,” like I am flitting about from one task to the other, trying to survive on hyper-efficiency. It’s not like that at all.

Instead, I am focused. Focused on my highest priority for the day – my project, my key task, my legacy activity – the one that will make a difference into the future. I am disciplined about getting on it and NOT being distracted. It’s not a million things – it’s a small number of very important but not urgent ones.

Focus, and defend yourself against distractions for as big a chunk of your day as necessary to get the highest value activities done.

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August 10, 2017

How do I "get it all done"?

Larry Janesky: Think Daily

Highly successful people know that is the wrong question.  

You don’t get it all done. You don’t have to.

You just have to get the RIGHT things done.

The team does the rest.

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August 9, 2017

Silos hurt

Larry Janesky: Think Daily

If your organization has only a few functions or “verticals” operating well, but others are not, the overall output of your enterprise is still problematic. Why, because the customer cuts across your organization horizontally.  

Any one customer experiences your marketing department, then your sales department, then your scheduling, then your product or service, then maybe some contact with accounting or service. They are touched by all your functions, and if any one of them is poor, to them, the whole company dropped the ball.

I’d rather have “good” performance across all departments, than excellence here and dysfunction there.

What customer experience are your various departments creating and how do they compare?

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August 8, 2017

We run on gross margin

Larry Janesky: Think Daily

If we had a ten-million-dollar business, but sold things for what they cost us, we’d have no money to pay fixed costs, let alone have a profit.

We run our business not on gross sales, but on gross margin. We have to sell things for more than the cost of producing and delivering them. If we want to be competitive, then we must control our costs, so we can make a gross margin at a price the market likes.

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August 7, 2017

Weak leaders

Larry Janesky: Think Daily

Weak leaders surround themselves with weak people.  

Strong leaders surround themselves with strong people.

Who have you surrounded yourself with?

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August 4, 2017

Simple ideas, ruthlessly executed

Larry Janesky: Think Daily

Many great businesses have been built on simple ideas that are important and powerful and produce results.  

(We sell like this, we serve like this, we communicate like this, we deliver like this…)

Once those simple ideas have been identified, they are ruthlessly executed, day in and day out.

What simple ideas drive your business?

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