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Profitable Growth Is Everyone's Business: 10 Tools You Can Use Monday Morning
The coauthor of the international bestseller Execution has created the how-to guide for solving today’s toughest business challenge: creating profitable growth that is organic, differentiated, and sustainable.
For many, growth is about “home runs”—the big bold idea, the next new thing, the product that will revolutionize the marketplace. While obviously attractive and lucrative, home runs don’t happen every day and frequently come in cycles.
Products like Kevlar, Teflon, and the Dell business model for selling personal computers may be once-in-a-decade phenomena. A surer and more consistent path to profitable revenue growth is through “singles and doubles”—small day-to-day wins and adaptation to changes in the marketplace that build the foundation for substantially increasing revenues. The impact of singles and doubles can be huge. They are not only the basis for sustained revenue growth but, in fact, the foundation for home runs. Singles and doubles provide the discipline of execution, an absolute necessity for successfully bringing a breakthrough technology to market or implementing a new business model.
Inherent in this way of thinking is the revolutionary idea that growth is everyone’s business—not solely the concern of the sales force or top management. Just as everyone participates in cost reduction, so must everyone be engaged in the growth agenda of the business. Every contact of each employee with a customer is an opportunity for revenue growth. That includes everyone from the people working in a company’s call center handling customer inquiries and complaints to the CEO.
In this trailblazing book, Ram Charan provides the building blocks and tools that can put a business on the path to sustained, profitable growth. For more than twenty-five years, Ram Charan has been working day in and day out with companies around the world. The ideas he has developed for solving the profitable revenue growth dilemma facing many businesses are based on personally seeing what works in real time. These are ideas that have been tested across industries and that deliver results, and they can be put to use starting Monday morning.
Revenue growth must supplement a cost reduction agenda
By Peter Leerskov "The Strategist, www.lace.dk"
- October 14, 2004
Charan's credentials include co-authoring the bestseller "Execution". His writing is very much down-to-earth, no-nonsense, and straightforward. So when he says 10 tools for Monday morning, believe him! Here they are:
1. MAKE REVENUE GROWTH EVERYONE'S BUSINESS. Just like a cost reduction agenda may be a permanent theme in daily conversations and meetings in all departments, so should revenue growth be. And it's not just for the management, it's for all employees to think in this direction (just like we try with the cost reduction agenda).
2. HIT MANY SINGLES AND DOUBLES, NOT JUST HOME RUNS. While home runs provide the opportunity for a quantum leap, they are unpredictable and don't happen all the time. Singles and doubles, however, can happen every day of the year. This piece of advice may sound somewhat trivial. But for what it's worth, my experience from especially larger firms is that it may turn out to be the most important tool. Many big corporations tend to... read more
Passionate, Practical, and Persuasive
By Robert Morris
- February 11, 2004
Charan co-authored Execution: The Discipline of Getting Things Done with Larry Bossidy and has written numerous articles in which he examines various causes and effects of what I view as organizational dysfunction. In this volume, he correctly insists that responsibility for profitable growth must be shared by everyone involved. He offers "Ten Tools" by which to achieve that important objective. First, he identifies three barriers to such growth: "First, the balance has gone too far in the direction of cost-cutting at the expense of revenue growth...Second, when most managers think about growth, it is in terms of home runs -- the disruptive technology, the new revolutionary business model, the mega-merger -- instead of the singles and doubles that, when executed at a steady pace, cumulatively can increase revenue substantially...Third, improving productivity and increasing revenues are seen as two separate issues, when they are, in fact, inseparable for long-term success. If managers... read more
Practical and Timely
By Bruce V. Culver
- February 16, 2004
Having worked with Ram before, I immediately purchased and read the book in one sitting on flight from S.F. to Detroit. Highlighting the many practical steps that he uses to stimulate your thinking, it was easy to adapt these suggestions into actionable steps to achieve our company's own growth plan.However, I was cautious to write a summary of the book until I distributed some copies to my team and tested the acceptance of these basic principles to revenue growth. I have seen some people scoff at some of Ram's recommendations because they appear to be too basic...too simple to really make a difference. For example: "Revenue Growth is everyone's business, so make it part of everyone's daily work routine." or "Seek good growth and avoid bad growth." Easy to just read over the titles...hard to really implement with every sales person, account manager...every employee on a equal understanding and commitment.After discussing with the management team, getting... read more
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