One of my biggest pet peeves is when the server doesn’t open my beer bottle at my table. I don’t think it’s a cultural thing. I think its universal. Most good servers or bartenders in LA, NYC, Barcelona, and Singapore all open beer bottles in front of you. Even in totally ethnic eateries, this seems like an intuitive process. But some individual servers don’t do it.
It may not be the bottle cap thing. It may be something else for you. But for me, when something that simple goes wrong and breaks standardization, that business loses my lifetime customer value.
How may marketing dollars have to go into producing top line dollars to replace the bottom line dollars I’ll no longer be bringing to the table? How much would it cost to fix that one supply chain problem? Yes. Opening a beer bottle behind the bar vs in front of the customer is a supply chain problem.
This was just an anecdotal example that everyone can identify with.
Your business model and process will be very different from anyone else. That’s how you created competitive advantage. But what remains the same between you and your competitor is that you have to continue to spend 30-60% of your bottom line net profit in marketing to bring in top line dollars.
Are there any bottle cap opportunities in your project management or manufacturing processes?
In other words, instead of trying to increase your net profits by 5% by spending 30-60% of your profit every quarter, are there ways to increase your net profit by 6% permanently with one time process optimization?
You might think you know the rest of the story. You’ve had big Fortune 500 experience and you hire operations managers that have too. Well, this is where you might be surprised. I was surprised when a buddy of mine in Barcelona opened my beer bottle with his elbow. In Hong Kong, another buddy opened my beer bottle with a single chop stick. In Singapore, a buddy used his wedding ring.
In other words, you might be surprised at the wide variety of methodology that can be used to increase your efficiency and thereby, your bottom line net profit. This is where I introduce you to another buddy of mine — Jon M Quigley with http://www.valuetransform.com/services/
Contact him and jump on his mailing list to get a 50,000 foot view of what the most lean and efficient firms are doing in other industries.