- Clear cost of product lines. Have specific costs for each product line and understanding of the margins that are delivered to the business.
- Focus on core strengths of the business. Review the products in your portfolio and markets. Provide clear definition to optimally shift products and markets.
- Sales incentives based on "Top-Line" goals. A shift to margin expectations will lead to a greater return to the shareholder. We get what we incentivize.
- High staff turnover. The opportunity cost of employee movement can be estimated at 2-3 times the annual salary plus benefits.
- Change adverse and a lack of diversity. The world is global and a diverse outlook is essential to driving past the competition.
"Keep driving costs out of the business and don't rest - the competition won't!" - Brett Vanderwater, MBA, CIA, CMA, CTP