Category Archives for "Operations"

F.O.R.C.E. Formula™ for Business Transformation – Operations

F.O.R.C.E. Formula ™ for Business Transformation – Operations

The F.O.R.C.E. Formula™  is a comprehensive review and action plan for transforming 5 primary areas of business that are ripe for transformation.  Regardless of whether you are an aspiring entrepreneur, a seasoned entrepreneur, a small business owner, a professional services provider or a leader in the corporate world, the F.O.R.C.E. Formula™ transforms the way you do business.

Within each of the 5 primary areas for business transformation there are 5 key elements and within those 5 key elements there are 5 actions, activities or questions to be answered.

In this video Carol explains the O in the Formula — Operations

Your operations are — in a nutshell — the way you do everything.  Do you have defined systems and processes for everything so that your training is simplified and your consistency is enhanced?    Where is your focus with your decisions and decision making?  What are people complaining about?  What is your business model or business models?  Do you have passive and/or recurring revenue — either as your primary business model or a secondary business model?  Do you have a well-oiled sales machine?   Are your vendors and partners in alignment with your business mission and values?  How can you leverage your relationship with them?

What lessons do you take away from this post?

Share your thoughts below in the comments …

Carol Wain is a leadership consultant, trainer, mentor, speaker, best-selling author and Entrepreneur of the Year 2003.  She is the founder of  Marquee Incentives, Marquee Marketing, Marquee Experiences, Marquee Events and Carol Wain International, which provide consulting, training and related products and services that transform businesses.  

Using Carol’s F.O.R.C.E. Formula™, leaders and managers learn how to attract and retain the employees and customers they want, increase sales, reduce expenses and use their strength to make positive changes in the lives of others.  

You can find Carol on Google, Facebook, LinkedIn & Twitter.  Visit her website at http://carolwain.com and reach her at Carol@CarolWain.com

F.O.R.C.E. Formula™ – Create More Profit and Time Off in Your Business

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The F.O.R.C.E. Formula is all about creating more profit from your current success.

It covers 5 areas of your business

F = Foundation
O = Operations
R = Reach
C = Customer Experience
E = Employee Experience

 

Foundation – Are You and Your Business Aligned?

In my 18 years of hands-on experience as an entrepreneur who specializes in performance improvement and engagement, the success of a business comes from an important place – the “Inner You”. 

You can achieve a level of success without paying attention to the “inner you”.  However, if you are not in alignment with your business at the core of who you are – what your core values are, what your ideal lifestyle looks like and your passions and purpose,  at some point you WILL get stuck.  Some people get stuck getting out of the gate, others get stuck when outside factors test them beyond their “unconscious competence”.     Everyone gets stuck at some point in their journey though and the cause of many of the “sticking-points” are from within.

The Inner You is the place where all of our decisions come from.  When they are working in our favour we don’t tend to think too much about them – we credit our intellect, experience, risk-tolerance, timing, intuition and/or planning.  What we often fail to see is that it’s our beliefs that contribute to our success – our belief in ourselves AND it is also our beliefs that trip us up.

If you want to take your business to a new level – a level you have been unable to achieve so far – you need to take a look inside and see what is going on before making your plans.

Foundation also takes a look at where you are at with your numbers.  Your revenue, gross profit, net profit, number of customers, customer lifetime value, number of prospects, size of your list and other variables that will be used as your benchmark.

Your Operations

Are you operating in a way that is attracting the right people that aligns with your vision?  This is why we start with your foundation – including identifying what you really want and what you are tolerating.  Have you created a business with policies and procedures which annoy your customers and make it difficult for your employees to achieve your vision?  Remember, the decisions you make come from the “inner you” – why did you make the decisions in the first place?  Were you coming from a powerful place when you made those decisions or were there other things in play?

Your Reach

Are you creating an attractive business?  Are you attracting your ideal customers?  Are you growing your tribe of supporters – which includes customers, prospects, referral partners, joint venture partners, employees and prospective employees, vendors, investors and admirers? 

How successful are your current marketing activities?  Have you changed your marketing activities to keep up with the changes in the marketplace or are you still doing the same old things you’ve always done?  Are you trying new ways to reach your ideal customer?  Are you leveraging your expertise and positioning yourself as an expert in the eyes of those you wish to attract?

Your Customer Experience

Your customers’ experiences are the culmination of every decision  you have ever made – from the people you hire, your policies and procedures, your budget allocation decisions, the consistency of service, the quality of your product, through to the various marketing messages you create and all sorts of decisions in between.

If there is one sure-fire way to know that things are out of alignment it’s to take a look at what your customers are saying (or not saying) and doing (or not doing!)

The key to winning the customer loyalty battle is to consistently offer exactly what your marketing messages promise.   Have you cut back on staff to save on payroll costs – and as a result your customers are abandoning their shopping carts – perhaps permanently?  Do you promise speed and efficiency but some days it’s not very speedy or efficient – it depends on who is working?   The discrepancy between your promise and reality is what causes people to complain bitterly so it’s really quite simply – you either change your message to match your experience or you change your experience to match your message.  A heart-centered high achiever will likely choose the latter.

Your Employee Experience

What’s it like to have you as a boss?  Have  you stopped to find out?   S.T.A.R. Businesses have very specific requirements for those they hire  because they understand that the customer experience is controlled by the employees. If you don’t currently have employees, think about the people you delegate tasks to.

Have you shared your vision with your employees?  Do they know exactly what they HAVE to do and what latitude they have in delivering your vision?  Do they truly understand just how important they are to achieving your vision?

Your role in a S.T.A.R. Business is to hire slowly and well; train using your systems; coach; mentor and back-away so your employees can shine.  The result?  You don’t work as much – in fact you actually have time to have fun while also working on WAYS TO LEVERAGE everything you’ve built so far – while your employees deliver your brand promise with each and every touch point they have with your customers.

For some entrepreneurs, this may seem like a dream come true.  I’m here to tell you, there is no feeling like it!  I’ve done it myself – in my own business – after practicing and successfully implementing the systems aspect I teach while I was part of the management team at Whistler Mountain ski resort.

Imagine taking 4 vacations a year – one of them a month long – with your family, knowing that you simply need to check-in to answer questions, provide direction and appreciate your team while your business continues to generate revenue every day!

What lessons do you take from this lesson?

Share your thoughts below in the comments …

Carol Wain is a leadership consultant, trainer, mentor, speaker, best-selling author and Entrepreneur of the Year 2003.  She is the founder of  Marquee Incentives, Marquee Marketing, Marquee Experiences, Marquee Events and Carol Wain International, which provide consulting, training and related products and services that transform businesses.  

Using Carol’s F.O.R.C.E. Formula™, leaders and managers learn how to attract and retain the employees and customers they want, increase sales, reduce expenses and use their strength to make positive changes in the lives of others.  

You can find Carol on Google, Facebook, LinkedIn & Twitter.  Visit her website at http://carolwain.com and reach her at Carol@CarolWain.com