Building a Strong Foundation

Recently, we’ve been working with a mid-sized distribution business to strengthen their operation. This meant realigning the organizational structure, setting objectives for all levels of the business, implementing KPIs, creating position outlines, identifying profitable target markets, market position and streamlining the sales processes. It was a large but ultimately successful undertaking.

The company was now poised for growth!

The problem was – as happens in many cases – their growth started eating up their cash, and to some degree, their short-term profitability.

If you plan for this, as we had, it’s a predictable and manageable outcome that is really just a short-term pain leading to a long-term gain. But no matter how prepared for it you are, it can still come as a shock, as was the case with this particular business owner. Logically, he knew we were doing the right thing, but his emotions were starting to make some noise.

Celebrations

Have you ever had a project that had so many components, people, tasks, revisions and mediums that when it is finished you can’t wait to see how it will be used?

It happened at Wardell last week. We completed our Entrepreneurial Skills Program!

The project beginning and end are momentous. It was our first endeavour at condensing the Wardell Program into 20-minute segments. It meant a loop of creation, edit, revision, cuts. We had technical glitches with sound, timing and a myriad of problems that had us adjusting, researching, troubleshooting and readjusting.

When you take on a project of this size, there is a lot of planning, preparation and people involved so
when the last video was uploaded and the tools complete, it was a time to celebrate!

If you want to learn more about the Entrepreneurial Skills Program, visit our ESP site.

Research and Development Tips for Small Business

 

Innovation has become a buzzword for modern businesses

The competitive advantage for businesses that are continuously refining or reinventing their offerings is one of the most critical aspects for growth in a global market. Every business has the capacity to improve its products and services. Through managing the scope and cost of these changes even small businesses can be innovators. The evolution of your products and services must be driven by a system that encourages and fosters ideas in four key areas:

1. Improving your product quality

What does quality mean for your business? There are two ways to improve quality:  by increasing efficiency from an operations perspective and perceived value from a marketing perspective. Customers’ buy your product because they have a degree of confidence in receiving a consistent level of quality from your business. Both marketing and operations may be doing what they feel is best for their goals, but unless they cooperate there could be significant repercussions to the overall product.

 

Tip: Your first goal should be to meet your customer’s minimum expectations 100 percent of the time.

 

As Featured In...

Circle Graphics

“Wardell has helped me systemize my business so I can travel with my family often and live the life I’ve always dreamed of.”

— Brad Haima, Founder, Circle Graphics

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