Your Business Is a Leaky Bucket

Businesses Are “Leaky Buckets”

Success in business depends on “people, strategy” and “execution.” Your organization needs a comprehensive strategy that addresses important external issues like expansion as well as internal issues like transforming revenues into profits. Set priorities for your firm to achieve; when you hit those targets, you’ll know you’re executing well.

Most businesses can be more profitable than they are – or can make a profit, if they are falling short. However, you won’t find personnel, strategic or execution leaks by reviewing your financial statements. Look elsewhere, like at operations.

“Keep expanding your company – making your profit-earning bucket bigger – while doing the harder job of finding and fixing those pesky leaks.” The typical causes of profit-draining leaks include: a poor or nonexistent strategy, inferior and nonperforming employees such as salespeople who can’t close deals, lack of accountability, ineffective communications, empty pivotal positions, unclear priorities, competing customer factions, blurry product differentiation, flawed processes, rapid turnover, discouraged workers and poor leadership...