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Increasing profits is a 2 step process. First you have to develop a strategy that will work and then you have to execute it.

A strategy only has to be changed or adapted when it stops producing the results the business owner wants. This is caused by 2 situations. One is because a major change has taken place outside of the company in, e.g. the economy; the industry; or the actions of a competitor. The second results directly from what’s happening in the company, for example, the development of a new technology or process, the desire to expand geographically or a change of ownership.

Here’s how to tell if you need to change or adapt your strategy.

Here are 3 ways to develop or adapt a strategy.

Executing a strategy is a different matter. It is entirely under the control of the business owner and management team. Each year they must do 4 things - identify and prioritize specific actions; allocate resources to them; regularly monitor progress against them; and adapt quickly when required. This discipline differentiates companies which succeed from those which fail because execution turns strategy into results.

Here’s how to tell if your execution can be improved.

Here is how to execute your strategy and get the results you want.

Do you want a quick, inexpensive way to assess the effectiveness of your current strategy and how you’re executing it? A Tune Up delivers exactly that! Learn more.

Here are some tips for keeping control when working with consultants.

Take the first step to increasing sales, profits and the value of your company – contact us now at growprofits@profitpath.com or 416-487-0276 to arrange a meeting.

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