Lather, Rinse, Repeat.

Perhaps you want to replicate an existing profitable operation in one or more different locations. Maybe you'd like to double your annual sales this year and then double them again the following year. Whether you plan to pursue aggressive growth via carefully-chosen channel partners or whether you intend to attain impressive numbers organically by marshaling only in-house executives, managers and employees -- it helps considerably to keep in mind the three-step instructions/directions below.


1. List all the heuristically essential resources. This involves clear documentation of the persons, places and things required for success according to proven experience. Without making theoretical assumptions or relying on idealized "wishful thinking" -- simply enumerate necessary materials, tools and processes.

A standard operating procedures (SOP) manual precisely defines who does what and the officially-approved manner in which they should do it. Job descriptions include important inputs and outputs, specific scopes of authority, reporting relationships (who reports to whom), key performance goals, critical timelines and the formal methodology used for regularly monitoring measured results.

2. Reduce individually non-strategic expenses. Some line items in a budget uncompromisingly call for the very highest quality and the most expensive prices. Others do not. Knowing where and how to properly cut back can allow an easy transformation of excess costs into significantly improved cash flow.

Financial literacy throughout an organization can become a serious competitive advantage, as it empowers team members to connect their own functional roles to the "big-picture" issues that directly impact profitability, liquidity, turnover activity and reliance on debt. Open-book management creates an "owner" mindset faster and better than any other organization-wide practice.

3. Review every profit-enhancing activity thoroughly. When it comes to growing and optimizing multiple profit centers in an organization, familiarity shouldn't breed contempt. Rather, strong understanding of what outsiders may consider the 'boring details' will often reveal profitable new ways to pursue hidden opportunities.

Finding and nurturing additional revenue streams won't usually happen by mistake. However, if unexpected developments suddenly occur to enable entirely novel or potentially innovative approaches for marketing combined sets of products and services -- it can pay handsomely to have deployment-ready capabilities in place to capitalize on the situation. Profit-center expertise consistently yields ever-greater earnings.