Art Jacoby's Monthly Newsletters
Newsletter Library - February 2008
ABC
A disarmingly effective method for improving the performance of your business begins with ranking everything that you do along the A B C spectrum.
“A” means great— a high value, high impact asset to your business. “B” means good— not giving you a competitive edge, but taking care of business in a perfectly acceptable way. “C” includes everything from awful to not good enough—really, anything that is more liability than asset to your company.
Ranking
Let’s look at how to rank employees, products/services, and customers along the ABC spectrum.
Employees may be ranked by the quality of their work, their productivity, their ROI (the profit they generate divided by their annual cost) and/or any other criteria particularly important to your business, e.g. the strength of their relationships with key customers.
Products/services may be ranked by perceived value (benefits relative to cost), sales, gross profit, future potential, etc.
Customers can also be ranked using sales, profitability, growth potential, low/high maintenance, and/or a number of other possible factors.
Execution
Now that you ’ve completed the ranking, your strategy becomes:
- leveraging As,
- turning Bs into As, and
- turning Cs into Bs, or eliminating them if necessary .
Capture a high ROI with ABC!
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