13 Slices
Medium 9781576751084

10 Sixty Further Steps to Cut Costs in All Areas of Your Business

Ludy, Perry J Berrett-Koehler Publishers PDF

128

Sixty Further Steps to Cut Costs in All Areas of Your Business

This chapter will address cost-cutting approaches to this remaining 60%—those areas that are waiting to be discovered but are often ignored.

The need for uncovering these hidden profits became apparent to me during an extended business trip in 1997. I was fortunate to be one of three executives who helped to sell our corporation via a strategic initiative in the capital market. The process was the most challenging that I have been a part of to-date in my career. We stayed at the Grand Hyatt New York for about three months until the transaction was complete.

It was during this time that I first began to consider writing this book. We presented for numerous hours to arguably some of the best deal-makers on Wall Street. Yet they continued to probe deeper, searching for some silver bullet to account for our dramatic cash-flow improvement that occurred in just over a twoyear period. It was then that I realized that Profit Building is a unique process. There was no silver bullet, only the process that

See All Chapters
Medium 9781576751084

11 How and Where to Get Started

Ludy, Perry J Berrett-Koehler Publishers PDF

11

How and Where to Get Started

What we call the beginning is often the end.

And to make an end is to make a beginning.

The end is where we start from.

—T. S. ELIOT

Congratulations! You now have a new perspective on what I believe will be the next wave to sweep over the business world. But unlike the many passing management fads we have seen come and go in the last decade, Profit Building is here to stay. It is the vital piece that has been missing from organizational design—a continuous process for profit improvement and cost reduction that should be a part of every business.

Now that you have finished reading the chapters on Profit

Building, you are ready to begin. You are about to find out just how quickly one person can start to make a difference in an organization. The beauty of the PBP is that it can be applied to any organization, large or small. International organizations, large corporations, small businesses, individual departments, and franchises are all awaiting its arrival. Getting the process started will be an easy sell. The most difficult part will be overcoming the organization’s resistance to this new approach.

See All Chapters
Medium 9781576751084

7 Taking Action and Documenting Results

Ludy, Perry J Berrett-Koehler Publishers PDF

7

Taking Action and

Documenting Results

Some people have ideas. A few carry them into the world of action and make them happen. These are the innovators.

—ANDREW MERCER

I have often tried to explain the synergy that takes place when a plan is constructed. Perhaps it is the chemistry of the team’s collective “pull” that this commitment emphasizes, or maybe it is the psychology associated with vision, measurement, responsibility, and follow-up that leads, more times than not, to a successful conclusion.

Without falling into the trap of trying to explain why performance improvement planning works, let’s just say that

Performance improvement planning works remarkably well when used as the administrative step of the Profit Building

Process (PBP).

This chapter is about turning your ideas into innovations.

Your performance improvement plan is the vehicle that gets you there. As you may know from your own experience, a poorly conceived plan can have you chasing after unrelated ideas without making any real progress. Taking action and documenting the results is the step of the PBP that moves you forward toward successful implementation of your ideas.

See All Chapters
Medium 9781576751084

Appendix: Profit Building Process Forms

Ludy, Perry J Berrett-Koehler Publishers PDF
Medium 9781576751084

Contents

Ludy, Perry J Berrett-Koehler Publishers PDF

See All Slices