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SELL MORE . Think about all the different ways a business can gross more money : unit expansion , acquisitions , selling new franchises , going public , selling assets , etc . But the best route to a healthy balance sheet is by simply 1 ) acquiring more customers and 2 ) raising like-for-like sales . Do so with great service and smart selling .
CONTROL COSTS . All money is not created equal . $ 100 in sales is $ 100 less taxes and expenses . $ 100 in savings is $ 100 . Be careful with inventory and train the team to think like owners do .
ALWAYS BE MARKETING . How and when you advertise , who you hire , how you serve , what you sell all are functions of marketing . Since most every other fundamental is dependent on marketing ( without customers , service and selling and hiring are irrelevant ), smart leaders approach marketing as a philosophy , not a department .
OUT-TEACH THE COMPETITION . Which companies do you admire most for their people , sales and service ? Odds are those organizations are exceptional at training too . Teach everyone on your team something new every shift . Hire people with a bias for learning . And teach your team members how to think , not just what to do .
LEAD SMART . Leadership is not a personality trait so much as the ability to master variable skill sets and knowing when and how to apply them . All leadership is situational . Smart leaders prepare to win . Since you don ’ t really know on which day success will occur , you have to be ready every single shift .
EXECUTE . There are three elements of effective execution : 1 ) Habitual Consistency : daily and steady application of the fundamentals , eliminating barriers to execution along the way . 2 ) Discipline : holding yourself and your team accountable for excellence — and results . And 3 ) Focus : knowing where and how the fundamentals have to be applied if anything is to be executed : The Shift , which brings us fullcircle to the first fundamental .
There was a time when focusing on the fundamentals really mattered . That time is called now . S
JIM SULLIVAN is the author of the Amazon best-selling book “ Fundamentals ” and a sought-after speaker at leadership conferences worldwide . You can follow him on Twitter @ Sullivision and get his training product catalog at Sullivision . com .
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THESCORE | 2016 Issue 2