The founder of Waypoint Analytics, Randy MacLean, recently spoke to a distributor group on: “Seven Limiting Beliefs That Prevent Profits”. The group’s Executive Director asked Randy for a summary article to share more widely. Randy obliged. Now, you too can read it at his web site. (Link below).
Continue reading 25. 7 Distributor Beliefs that Just Aren’t So
In late 2015, DuPont and Dow announced plans to merge for better short-term earnings through layoffs. The CEOs will maximize their stock-option income rather than trying to win via traditional innovation. Consolidating mature industry capacity continues!
Since 2009, US firms have increased stock buybacks by 194%. In 2015 alone, American companies spent over $2 trillion on acquisitions.
Then, there is Amazon: just 22 years old and eating many with constant innovation. Jeff Bezos, the founder and CEO, is one of the most effective businessmen of all times. He’s also quite quotable. Google: Bezos + 20 smart things. Contrast Jeff’s competitive beliefs with yours for some competitive insights.
Continue reading 23. Corporate America (and You?) v. Bezos and Amazon
Sit through a day of branch managers’ presentations on: “Next Year’s Plans”. How often do you hear (every year)…
“We are going to (try harder) to: buy a little better, sell a little higher and get more efficient at (various) operational costs and execution of (product-centric) sales promotions.”
Excellent! But, tackle these questions too:
Global companies have formal enterprise accounts programs. Distributors typically do not. Deploying a team of specialists (to augment the Rep) on the biggest, 1-5%, profit-potential accounts will yield, however, big profit gains, especially in down economies.
Profit-Ranking, Math-Facts
A cumulative, customer-profitability ranking report for distributors reveals stats like the top 40% generate about 150% of the financial statement’s profit total. More sensationally, the top 20% customers yield 140%; top 10, 95%; and, – in one case – the #1 account scored 25% of the peak internal profits. Continue reading 20. Untapped Potential Within Enterprise Accounts
The “Digital Haves” (often startups) are eating companies who think “IT” is only about automating past activities to save costs. For more on “Digital Haves”, find free on the net: McKinsey Global Institute’s report: “Digital America: A Tale of the Haves and Have-Mores” (published 12/15).
Continue reading 19. Do you Need/Have a CIO (Chief [Profit] Information Officer)?
Why Are Macro and Micro Numbers Flashing Red?