“You can never go broke making a Profit”

 

Last week, I spoke about my mentors and how each shaped my life. Each Mentor influenced my thinking and my applying of the thinking created different experiences to live my life.

 

I still apply Vic Webb’s lessons about “thinking in whole pictures” and “always making a profit” to this day, 35 year later.

I find in a world of high speed communications, like Facebook, Twitter, E-mails, and even Instagram, communication, in its brevity is becoming misleading to the point of tricking the Hu-people’s senses. 

 

 

 

The importance of communication in business can’t not be understated. The real competitive advantage in a global market place of oversupply and shrinking margins……. Is your ability to Educate your Customers in the Absolute Value of your Products and Services.

 

 

High speed delivery of communications is no reason to lower the standards of messages being communicated. The Internet and all of its links and devices allow high speed, lower costs and higher volumes of information. This allows each business to craft and model messages that lead to lower costs of any sale made.

Success in today’s business world really means…… “Does your Business Add Value and make a Profit in every Exchange Transaction?”.

Vic taught me that if you are not making a profit on every Exchange Transaction, Your business “Will DIE!-!”

 

 

To make a profit in very hard. To understand Vic’s Thinking, I must give you his definitions of Profit and Exchange Transaction.

Profit….. to Vic, profit was on everything that was a part of a business, not just the money flow.

Vic would always ask:

1.       What are you thinking?

2.       How does that fit with what we are doing today?

3.       How will you apply your thinking tomorrow?

4.       When will you start to apply the new thinking?

5.       Will we make a profit on each step?

To Vic it was important to get the whole picture of Transactions/Exchanges to make a profit.

Vic would also ask:

1.       How will we take your thinking to market? Does everyone in the Value Chain of the transaction know their roles and the importance of the exchanges being made?

Have you informed each department?

a.       Accounts

b.       Legal

c.        Education/Training

d.       Branding

e.       Marketing

f.         Sales

2.     Will we make a profit at every level of the transaction?

To Vic it was really simple! If all functions in a business didn’t support in the exchange transaction, money would not flow.

 

Money OUT and Money back IN is the Blood flow of a business

 

NO FLOW = DEAD BUSINESS

Vic was always concerned that all elements of his business were engaged and efficient in all transactions, making for speed of flow and the ultimate of a business!-!……..

Value Added-Always making a Profit

in each link of the Exchange-Transaction.

The key to understanding Vic’s thinking is EMEL (Ever More Ever Less)…….

What is leftover?

Does his Business repeat an Exchange-Transaction by the SYSTEMS/PROCESSES=1?

 

Does each part of your business function as a Whole Unit?

OR?

Competing Parts?

 

Profit reduces with each “Internal” part competing with the Whole Business Success of Any

Exchange Transaction.

In other words, most businesses don’t need competitors!-!

Businesses have enough problems “Internally”.

 

Until Next week,

JDS OUT!_!