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Post by bleblanc on May 13, 2014 8:47:55 GMT -6
This video was very helpful and sort of teaches you how to generate more profit. The video teaches you to how to cut unnecessary cost and things that are generating little profit. The key is to stop focusing only on revenues and focus on the total profit. Also, he teaches you how to get a lot of media coverage. He basically says that being yourself is the greatest way to promote your business. Don't try to sugarcoat things, because there will always be those that agree and those that disagree. It is better to come out with the whole truth and let peoples opinions form rather than sugar coating things and having a harsher backlash later. Once you become talked about in the media and become a hot commodity, everyone starts to form their own opinions about the company. I agree with this video even though I don't have a career that attracts any sort of media attention. Some people will never agree with me, but some might. If you stick to being true to yourself, those that dislike your ideas end up sticking with you anyways because you gain some sort of trust. It sounds weird to hear dislike and trust in the same sentence, but it is true. You stick to your true colors and people will trust you whether they agree or disagree.
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Post by ken9390 on May 13, 2014 9:20:01 GMT -6
I really like the point he made in the video about the 80-20 rule. Managers spend 80% of their time on products that account for 20% of profits within the company. Inversely they spend 20% of the time on things that make 80% of the profits in the company. The point is that managers need to focus on what makes the company profitable while devoted respective time to other things as well.
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Post by benallbright on May 13, 2014 13:29:16 GMT -6
This video had a lot of helpful information. He talked about identifying which products and services are producing revenue and identifying 20 percent of activities that are consuming 80% of your time. When asked how to keep your costs down he said measurement is key. Looking at profit instead of pure revenue. As an employee you need to know how your value is measured. Create your own measurements if your boss doesn't. Make sure you let your boss know why it is less expensive to keep you than fire you.
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