MAKING MONEY RESIDUAL INCOME INSIDE OUT
WEALTH BUILDING – PASSIVE INCOME – RESIDUAL INCOME
Making Money from the Inside Out
It is a well-understood axiom of the business world that there are two
ways to improve the bottom line of the business. Stated simply, those two
ways are to make money or to cut costs. Now no business can cost cut their way
to profitability.
But by the same token, waste and excessive internal costs for any business can
eat away any profits that business is enjoying. So to get ahead in a competitive
business environment, both methods must be employed.YES — YOU CAN BECOME A MILLIONAIRE-HERE HOW
When a business turns its eye to cost cutting, there is a stated or unstated
business objective that the business owners will discover significant bleeding of
revenues that are going on within the systems of doing business.
So if those systems can be improved to eliminate that waste, the business would
literally make money from the inside out because the overhead of the business
low hanging fruit” first. By that we mean that in order to satisfy the demands of
management middle management will identify superficial savings in hopes of
satisfying the requirement.
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Hence switching from disposable cups to mugs or cutting back on break room
amenities often go on the chopping block first.
Sadly, while there may be some superficial savings to be found in such places,
the significant introduction of efficiencies for any business lie at a deeper level
and take a more in-depth process of locating problems with how things get
done internally.
The methodology of finding these “money pits” within a business is often called
“Process Improvement.” The concept of process improvement is to diagram a
particular business process from inception to completion and document the
stages it goes through, the handing over of authority for the process
and to pin point places where inefficient methods are causing excessive
cost in executing that process en route to the final stage of process completion.
Routinely, the areas of business structure that most often identified as
being candidates for a process improvement examination are…
* Excessive overhead between departments. Departments within a business
are notorious for taking on the atmosphere of a fiefdom and becoming resistant if
not suspicious of other departments in the same company.
When that happens, department managers will introduce paperwork and
unnecessary processing to cause “work” to move to his or her department from
another or for completed jobs to continue along their path.
This excessive overhead can be costly at the department level and bog down the
business as a unit enough to actually reduce the profitability of the organization.
* Communication problems. A business process moves through the organization as
each department or entity adds value to the process through to the completion of the job.
However if communications between departments or people along the process
chain are flawed, a process can grind to a halt and wait for hours if not days
before the missed communication is discovered and the work is put into the cycle
to be completed. This slow down or break down in communications can be a
tremendous drain on the company.
To correct the problem, modern tools of communication should be reviewed so
each significant person along the chain is quickly made aware of work that needs
to be done and can signal to the next agent that their step is complete and that
the process is moving to the next stage.
* An inefficient IT infrastructure. Out of date computer programs that are not
integrated with each other cause needless work to be done to take data from one
system and moving it into the next computer program only to be entered again
at the next stop along the chain.
Standardization and integration of data and systems will introduce huge
efficiencies to the process.
By streamlining the process of moving a business requirement from inception to
conclusion, we can remove much of the inefficiency and waste that has become
inherent to that process.
We can introduce up to date integration designs both at the IT and process level
to quickly move the process from one department to the next upon completion.
The outcome is a streamlined organization that is no longer “bleeding money” due
to inefficiencies and as such is making money “from the inside out”.YES — YOU CAN BECOME A MILLIONAIRE-HERE HOW