October 2011

Seven Billion

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The United Nations projects that the seven billionth person will be born today somewhere in the world. Our ever increasing population and the demands it creates for goods and services generates tremendous opportunities for companies of all sizes. Simply being ready to serve a wider audience, however, does not constitute the preparation necessary to compete in the new economy. You must eliminate, innovate, and automate aspects of your business to hone your competitive edge:

Eliminate strategies, roles, and practices that no longer contribute to the value you provide your constituents.

Innovate methods that are old habits versus true best practices that work best in a permanently volatile economy.

Automate non-core functions of your business to increase the amount of connectedness your team maintains with prospects, clients, candidates, and colleagues.

Doing these three things will help your organization become the nimble and innovative company sought by the growing population of buyers across the globe.

By the way, Happy Birthday number seven billion, wherever you are!

Scott WintripSeven Billion
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Increasing Your Profits

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Two important issues face the staffing industry:  price and low market penetration.  By increasing how many buyers write checks, both can get better.

Only 18% of companies use staffing and recruiting services each year.  That gives you 82% potential to improve the market share of your business.  As you get more of that 82% to buy, quote your full fees and rates knowing that you are worth it.  This one act alone can bend your profitability in the right direction.

So, keep selling to the usual suspects.  But don’t get so busy with them that you leave the higher margin business that’s waiting for you just sitting on the table.

“Few will have the greatness to bend history itself; but each of us can work to change a small portion of events, and in the total of all those acts will be written the history of this generation.” – Robert F. Kennedy

Scott WintripIncreasing Your Profits
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Are You Selling the Flavor of the Month?

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Paul is a classic example of being a salesman of the flavor of the month.  Every month or two, he sells tasty changes to his strategy.  This month, he’s decided that he will handle managing the sales and recruiting team himself.  Last month, his branch managers were charged with that task.  Two months prior to that, he had divided his staff into pods led by a senior team member.  While any one of these initiatives could have worked, none were given the time required to achieve the desired result of improving his operations.

If you consider yourself an entrepreneur in our business, chances are that you engage in this type of behavior from time to time.  Your situation may not be as extreme as Paul’s, yet the damage that you may be causing your firm or your reputation as a leader may be just as severe.  While we often hear about politicians flip flopping about issues in our society, this problem is not limited to elections and politics.

Great leaders create tangible goals, evaluate areas for improvement, weigh their options, get input from their support system, plan a strategy, and then explain and implement that strategy.  Then, they stick with the plan giving it time to take root and have the desired impact.  While this may not seem as exciting as trying a different strategic flavor every so often, it certainly creates much tastier and lasting results.

Scott WintripAre You Selling the Flavor of the Month?
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