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Informative Articles

10 Reasons Why Companies Should Start Doing Business Online
With the rapid down fall of world economy and dot-com companies in recent years many brick-and-mortar companies and new start-ups ask themselves: To Be Online or Not to Be Online? Not long time ago, I read a comment of a well-known industry...
Managing Your Business’ Cash Flow
You wouldn’t drive a car without a gas gauge or speedometer, and if you’re driving on an empty tank, you won’t get very far. Then why would you make financial decisions without the proper tools? Businesses must master controlling the flow of...
Only the Weak Ones Quit!
Only the weak ones quit. Is that true? There is a story of a CEO of a multi-national company who decided to withdraw a product from the market when it had consistently failed for nine months and eaten up millions of pounds in advertising,...
Phone Tips To Get Things Done: Professional Phone Skills
It happens all the time, you hear someone over the telephone and you make a generalization about the person you are speaking with. It may not be fair and it is akin to judging a book by its cover, but it's true nevertheless. Within 60 seconds,...
PPC Management: When To Give Up On A Loser
Pay per click (PPC) advertising can be a dream come true. You can get traffic almost immediately from some PPC search engines. And it can be mighty cheap too. Next to joint ventures, PPC search engines have been responsible for most of my online...
 
Profitable Growth Is Everyone's Business - A Book Summary

This article is based on the following book:
Profitable Growth Is Everyone's Business
"10 Tools You Can Use Monday Morning"
By Ram Charan
Published by Crown Publishing Group, 2004
ISBN 1-4000-5152-5
198 pages

The days of ruthless downsizing and drastic cost cutting are long gone. Nowadays, companies have realized that the best way to earn profit is only through growth – profitable growth. In this book, author Ram Charan provides 10 tools anyone can use to hurdle obstacles and achieve profitable growth.

These tools are:

1. Revenue growth is everyone’s business, so make it part of everyone’s daily work routine.

2. Hit many singles and doubles, not just home runs.

3. Seek good growth and avoid bad growth.

4. Dispel the myths that inhibit both people and organizations from growing.

5. Turn the idea of productivity on its head by increasing revenue productivity.

6. Develop and implement a growth budget.

7. Beef up upstream marketing.

8. Understand how to do effective cross-selling (or value/solutions selling).

9. Create a social engine to accelerate revenue growth.

10. Operationalize innovation by converting ideas into revenue growth. One of the most critical points discussed is the need for re-orientation of thinking. Most
businessmen and executives think about growth as “home-runs” and more often than not disregard the “singles
and doubles”. Managers often look forward to the big breakthrough or the grand new product without realizing
that home runs don’t happen everywhere – sometimes, they
don’t even happen in a decade.

Instead of aiming for that one grand home run, aim for singles and doubles. This is a surer and more consistent
path. Of course, it is important to note that while aiming for singles and doubles, one should not exclude
home runs. These singles and doubles come from an in-depth analysis of ALL the fundamentals of a business.

Another factor to be considered is the difference between good growth and bad growth. Managers should dispel the
myth that growth in whatever form is a victory. Although growth (both good and bad) builds revenue, only good
growth increases not only revenues but also improves profits and is sustainable over time.

Bad growth, on the other hand, lowers shareholder value. Unwise mergers and acquisitions are examples of bad
growth. Price cutting to gain market share without cutting costs can also be detrimental to your company’s health.

Here are some questions that can help you diagnose whether or not you are part of a growth business:

1. What percentage of time and emotional energy does the management team routinely


devote to revenue growth?

2. Are there just exhortations and talk about growth or is there actually follow through?

3. Do managers talk about growth only in terms of home runs? Do they understand the importance of singles and doubles for long-term, sustained organic growth?

4. How much of each management team member’s time is devoted to making effective visits with customers? Do
they do more than listen and probe for information and then try to “connect the dots”?

5. Does the management team come into contact with the final user of your product?

6. Are people in the business clear about what the specific future sources of revenue growth will be? Do they know who is accountable?

7. Would you characterize your company or business unit’s culture as cost cutting or growth oriented? If the answer is one or another you need to start doing both. Do people in leadership positions have the skill, orientation, and determination to grow revenues?

8. Does the company practice revenue productivity? Does it think through whether there are ways to more effectively use current resources to generate higher revenues?

9. How well does your sales force extract intelligence from customers and other players in the marketplace? How well is this information communicated and acted on by other parts of your organization, such as product development?

10. How good are the upstream marketing skills- that is, the ability to segment markets and identify consumer attributes- in your business?

About the Author:

Ram Charan is coauthor of the landmark Fortune article "Why CEOs Fail" and an adviser on corporate governance,
CEO succession, and strategy implementation. He was named as Best Teacher by Northwestern's Kellogg School and as a top-rated executive educator by Business Week. He is
author of Boards at Work, coauthor of Every Business Is a Growth Business, and a frequent contributor to Harvard
Business Review. (6/2000)

By: Regine P. Azurin

Regine Azurin is the President of BusinessSummaries.com, a company that provides business book summaries of the latest bestsellers for busy executives and entrepreneurs.

http://www.bizsum.com
"A Lot Of Great Books....Too Little Time To Read"
Free Book Summaries Of Latest Bestsellers for Busy Executives and Entrepreneurs

Mailto: mailto:freearticle@bizsum.com
BusinessSummaries is a BusinessSummaries.com service.
(c) Copyright 2001- 2005 ,BusinessSummaries.com -
Wisdom In A Nutshell

About the Author

Regine Azurin is the President of BusinessSummaries.com, a company that provides business book summaries of the latest bestsellers for busy executives and entrepreneurs.

 

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The 5 Biggest Sales Management Blunders
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Reconnect Sales Management to Profitability - HBS Working Knowledge
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Personal Selling and Sales Management: KnowThis.com
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Content Menu
  • 10 critical questions to ask before hiring a consultant

  • 10 lessons for every shoestring entrepreneur

  • 10 profit boosting tips to increase the success of your affiliate program

  • 10 reasons why companies should start doing business online

  • 10 ways for entrepreneurs to find more time

  • 11 secrets to leadership in sales

  • 11 ways to elevate your sales

  • 3 steps to turning ok sales into unbelieveable results

  • 5 tips for savvy use of your home equity line of credit

  • 6 steps to laying out your competitive strategy

  • 7 explosive strategies to maximize your google adwords campaigns

  • 7 tips for product enhancement to increase your sales

  • 8 procedures to take control of sales and marketing

  • alarming marketing trend

  • are you still broke with 10 000 people in your downline

  • army ranger reveals how to control corporate stress

  • assumptions the hidden sales killer

  • astute pricing by sales representatives can expand profit

  • a new look for business in the future

  • a power technique for boosting sales

  • a profitable growth formula for sales managers

  • a real crm strategy or just tracking customers

  • bankers in denial

  • black belt sales meeting moves

  • book summary the e myth revisited

  • boost profits dramatically with consignment sales

  • boost your business sales with credit card payment solutions

  • building an email marketing list

  • businesses should specialise not generalise

  • business after the iraqi war

  • can a sales leaseback arrangement make investing in orlando investment more safe and reliable

  • cash flow management

  • cash flow profits and the cash conversion cycle

  • celebrating successes the power of compliments

  • characteristics of high performance teams

  • coaching for success

  • commodity sales prospecting ‹¨« how to stand out from your competitors

  • communicating value

  • conducting business through b2b e marketplaces

  • confessions of a reluctant saleswoman

  • create a positive upbeat can do workforce and dazzle the customer with your caring

  • creating your internet marketing plan

  • crm for beginners customer relationship management basics

  • crm sfa that accelerates sales the sales process integration approach

  • customer service and call center outsourcing whats the buzz

  • dialogue the four dialogic principles for successful communication

  • does your business need a toll free 800 number

  • doing business online private b2b exchanges

  • domain name and web hosting hell

  • dont shoot the sales team

  • do you feel overwhelmed running a web business try this

  • do you have a picture of your customer

  • do you need a personal assistant

  • easily slash your comms costs using web conferencing

  • education and outsourcing 2 ways to improve your business

  • einstein definition of insanity

  • entrepreneurship what does it really mean

  • financial services marketing insights a marketing compass

  • finding rest for the direct sales company mom

  • first the key to successful sales

  • five dirt cheap ways to increase sales in your cleaning business

  • five strategies to strengthen your companys financial management

  • five tips for analyzing an income statement

  • five top tips for a prosperous 2004

  • forecasting and surviving a layoff or downsizing

  • gaining business intelligence

  • get coached

  • good bye bobby knight and all the sales managers like you

  • grants loans free credit cards and credit repair the whole truth and nothing but the truth

  • hiring and retaining good employees

  • hiring the best sales athletes

  • how to beat the 80 20 rule in sales performance part 1

  • how to beat the 80 20 rule in sales performance part 2

  • how to build a repeat client base in automobile sales

  • how to create multiple revenue streams for your home business

  • how to create your own successful and profitable affiliate program

  • how to cut duty cost and increase profit as an importer

  • how to decrease profits without really trying

  • how to define your companys sales job part 1

  • how to define your companys sales job part 2

  • how to easily increase your profits

  • how to enhance quality in your business

  • how to find an investment advisor

  • how to get money back for your process and procedures investments

  • how to get rich with network marketing

  • how to identify a problem solver

  • how to improve your management procedures usability

  • how to increase sales with automation improvements

  • how to join the 5 of internet business real money making pros regardless of the products you sell

  • how to maximize account penetration and jump start sales

  • how to maximize sales by minimizing windshield time

  • how to meet quality standards with iso 9001

  • how to promote your home business with ebooks

  • how to start a business plan

  • how you can learn to be a better manager

  • hunters and gatherers are you serving both their needs

  • hurdles to cross cultural business communication

  • if it was easy everybody would do it

  • if one does not do any planning one is planning to fail

  • increase sales in your home business with these 10 simple ideas

  • increase your income through international trade

  • increase your influence increase your sales

  • increase your pipeline deploying the cost effective sales team

  • increase your sales by 30 using internet collaboration networks

  • increasing sales with customer interaction points

  • index

  • industry pro interview expanding your market reach for more sales

  • internet marketing vs forex currency trading

  • introducing a mystery shopping program employees

  • investors avoid these 5 common tax mistakes

  • iso 9001 compliant program steps to build

  • is it time to hit the reset button on your sales department

  • is your business profitable

  • is your company growing fast enough for you

  • keeping your sales team motivated

  • leadership lessons for sales managers

  • leveraging open source technology

  • like it or notyoure in sales

  • lone wolf lead wolf

  • looking for a direct sales party plan company do you know what questions to ask

  • making sales online is easy isnt it

  • making sales online is easy isn t it

  • managing your business cash flow

  • maximize your home based business website sales

  • menu driven business planning

  • money management

  • multiply your sales

  • networking 101

  • network marketing book lovers guide 10 hot reads in 2005

  • no degree no problem

  • online success

  • only the weak ones quit

  • organization tips how to set up your database

  • outsourcing not just for big business

  • overcoming barriers to sales

  • overcoming sales objections for small business networks

  • overcoming small business networks sales objections

  • part 1 of 5 how pipe dreams can become realities

  • part 1 of 5 on the home business set up guide

  • part 2 of 5 how pipe dreams can become realities

  • part 2 of 5 on the home business set up guide

  • part 3 of 5 how pipe dreams can become realities

  • part 4 of 5 how pipe dreams can become realities

  • part 5 of 5 how pipe dreams can become realities

  • paypal dedication can leave your business exposed

  • phone interviews prepare to ace them

  • phone tips to get things done professional phone skills

  • planning to make a decision

  • ppc management when to give up on a loser

  • profitable growth is everyones business a book summary

  • properties for sale in cyprus please visit www propertyincyprus com

  • pr where it matters most

  • public relations defining your organization from the inside out

  • results of poor cross cultural awareness

  • riding the sales rollercoaster

  • rotator

  • rý eoc recruitment and retention employer of choice

  • sales 201 learning tools of your trade

  • sales activity report for management

  • sales and marketing terminology

  • sales and the importance of following up

  • sales commission what return should you expect on your sales compensation investment

  • sales leads how to generate quality sales leads through public speaking

  • sales lessons from the election

  • sales partners agents distributors licensing and franchises

  • sales performance and motivation how to get your edge back

  • sales planning

  • sales process how to avoid wasting time on prospects who cant or wont pay

  • sales process the secret to closing more sales

  • sales process what can you automate

  • sales success the 5 steps

  • sales territory management how to prioritize your activities to produce maximum results

  • securing second and third round venture capital financing

  • selecting sales tracking software for your small business

  • selling is easy when youre first fast and foremost

  • selling sales to customer service agents

  • seven cs to avoid procedure writing errors

  • short messaging service sms for enterprise messaging

  • should i stop wasting my salespeople on prospecting

  • six components of a good e commerce site

  • smart choices how to hire the best

  • spam whats the real problem

  • stop being a salesperson

  • stop waste fraud and abuse

  • strategic planning for salespeople

  • strategies for creating a niche business

  • survival tips for small businesses

  • swot analysis

  • telesales success begin with the end in mind

  • the 11 secrets to sales leadership

  • the biggest mistake in sales prospecting

  • the challenges of human resource management

  • the death of the loyal customer

  • the diamond cutter

  • the game plan the difference between small business success and failure

  • the inside scoop on mutual fund rip offs

  • the ins and outs of article submissions

  • the keys to buying motivation unlock the door to sales success

  • the key to high volume web sales

  • the millionaires favorite author

  • the new ways to do the business mba or cio

  • the perfect mutual fund

  • the road to opportunity in wholesale distribution

  • the sales trail

  • the secret to beating tiger woods at golf and its correlation to success in business

  • the six most common barriers to sales success

  • the steps from product idea to product success

  • the three most common mistakes sales managers make

  • the top 10 priorities that guard your five star reputation

  • the traits of great sales leaders

  • the world has changed what is a sales professional to do

  • this old business

  • thoughtleading the art of separating yourself from the pack

  • trade show tactics revealed

  • transform yourself from a salesperson into a businessperson

  • understanding ezine publishing

  • use magnetic gift cards to skyrocket restaurant sales and profits

  • using the internet automation as tools for salespeople

  • venture leasing a smarter way to build enterprise value

  • web conferencing a boon to businesss

  • whats a professional sales manager

  • what 80 of businesses dont know tips for improving your working capital management

  • what is an investor ready business plan

  • which of these 7 mistakes are you making in mlm

  • who says i cant offer this property for rent

  • why mobile sms text messaging

  • why performance based recruiting produces top sales performers

  • why small businesses fail or fail to thrive

  • why suppliers should use b2b exchanges

  • will your home business succeed or fail

  • work at home business ideas

  • work from home 5 required steps to generate sales

  • work priorities where can you spend your time most effectively

  • yesterdays hero