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Thursday, September 20, 2012

Simplify your business to make more money

Ateneo Professor on Entrepreneurship

From financial post

KISS.

Keep it simple and short.

By reducing complexity in business, you make it focussed, lean,  and more profitable.

Substantial savings and transparency can be achieved by business simplification and increase in profit can be as much as l00%  (BPO, offshoring aims to simplify business by shifting non core essential business to cheaper/offshore sites)

Complexity abound in the following business types:

l.  Strong customer is king mindset;  thus there is proliferation of product lines, processes, inventroy;

2.  Matrix organizations

3.  Complicated supply chain

Problem solving is thus resorted to simplify the business:

l.  Understand the problem

2. Identify the culpris

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