Don’t Struggle with Your Bottom Line: More Effectively Reach Better Profit Goals

Profit Chart. jpeg

We are operating in a new disruptive world that’s defined by a high-demand for innovation, dynamic work, rapid-fire decision-making and more. In the new book “DECIDE TO PROFIT: 9 Steps to a Better Bottom Line,” author and consultant Dorriah L. Rogers, Ph.D argues that leaders and employees need “a renewed focus on the very reason businesses operate if they want to thrive ahead of the curve. That is, a simple and clear-cut path to a profitable bottom line that anyone can implement.” She outlines 9 clear steps that will give you and your company the tools and roadmap to more effectively reach better profit goals.  

In this episode of In Process: Conversations about Business in the 21st Century, hosts Evelyn Ashley and John Monahon of Trusted Counsel speak with consultant and author Dorriah L. Rogers, Ph.D about profit. Rogers began her career in engineering and technology. She founded her consultancy firm in 2003. She specializes in identifying and solving issues affecting efficiency, productivity, and profitability. She has worked with Fortune 500 organizations as well as many smaller progressive firms.

We asked Rogers what led her to write the book. She went on to explain that in her experience, she’s come across many cases where poor decisions are made by decision managers that have nothing to do with the ultimate goal of the company – to make a profit. In other words, decisions are made to purchase equipment or implement some processes that are completely unrelated to profit making. “And so a light-bulb went off in my head…why don’t I write an operations manual for this company…and during the process of that it became a book.”  

During the course of the interview, Rogers discusses the nine steps to a better bottom line.

The 9 Steps (according to Dorriah L. Rogers):

 1.      Identify the system that needs improvement
A “system” is defined as any operation, process, method or organization. The identified system produces work inefficiently and, if improved, will positively impact the business goals of the organization. Often times, consultants are brought in and they can help organizations identify that area you need to focus on.

 2.      Put the right team together
Ensure you have the right balance and diversity of ideas by inviting team members with the right mix of experience together with member from outside the traditional or expected network.

 3.      Identify the goal
Identify a specific, measurable, achievable, and timely goal that will ensure that any improvements to the system will result in positive impacts to the business goals of the organization.

 4.      Observe the system
Utilize the correct analysis tools appropriate to your system, include and listen to input from those involved, observe objectively, document and present findings.

5.      Identify bottlenecks within the system
Ensure that the focus of system improvements directly targets those areasthat will impact the business goals of the organization most significantly.

6.      Brainstorm
Utilize the right team to accumulate a list of the best possible solutions for improvement to the system.

7.      Select optimal solution(s) for improvement
Ensure the best recommendations for system change are selected based upon thorough cost-benefit analysis, peer and stakeholder review.

8.      Implement one change at a time
Implement any proposed change independently of any other changes to ensure any measured impacts are the result of this change alone.

9.      Sustain a culture of continuous improvement
Ensure that the inertia of success or failure does not stop a culture of continuous innovation and improvement.

Rogers ended our interview with the following thought. “If you’re fundamentally happy with where your business is, don’t bother to read the book, but if you think there’s something that you could do better, read the book! The nine steps are meant to be easy to understand. This isn’t mean to be a bang-your-head-on-the-table process.”

Do you want to get the full conversation? Stream this episode in the player below. You can also subscribe on iTunes to receive new episodes of In Process Podcast directly on your smartphone.

audio Block
Double-click here to upload or link to a .mp3. Learn more.

Investment's New ROI: Empowering Entrepreneurship for Social Change

Photo Credit: The Center for Civic Innovation (Atlanta, GA)

Photo Credit: The Center for Civic Innovation (Atlanta, GA)

The entrepreneurial spirit is alive and well, even in communities that have been hit hard by financial recessions and divestment. Our innate drive to fight and remain entrepreneurial doesn’t ever go away. But, finding access to community resources and early-stage funding is not always equally or readily available for every entrepreneur with a dream of success.  

Take a city like Atlanta, as an example, which by all media accounts is thriving economically and is often touted as the next city for economic growth. Its skyline is graced with a number of Fortune-500 companies. However, Atlanta consistently has one of the highest income inequality gaps in the United States. Upward mobility in Atlanta is 4 percent, meaning there’s a 96-percent chance if you're born poor in Atlanta, you’ll die poor in Atlanta. 

This is a dichotomy that has to change―not only in Atlanta but across the globe.   

This week in In Process (Trusted Counsel's bi-weekly podcast show), Rohit Malhotra, founder and executive director of the Center for Civic Innovation, discusses how the Center is focusing on social entrepreneurship to bring community organizations together to solve civic solutions in order to transform business in Atlanta―and how this approach can serve as a model for other U.S. cities and even worldwide.

“Whether you're suited and booted at a Fortune 500 company on the 50th floor or you're on the ground working a farm each and every day, the joint thing we have in common is a love for our city,” said Rohit. “Atlanta's history is built on businesses and communities, both the public and the private sector, coming together to fight for what's morally right. To drive what business will look like, rather than business driving our morality.”

During the course of the podcast “Investment’s New ROI: Empowering Entrepreneurship for Social Change,” investors as well as community and business leaders will learn:

• The definition of social entrepreneurship

• The Center for Civic Innovation’s mission, goals and future plans

• Challenges and opportunities for social entrepreneurship in Atlanta as well as other metropolitan areas

• How to shift the conversation in terms of distributing capital and investing in true “economic value” that produces social change

• Real-world social entrepreneur success stories 

Stream the conversation with Rohit in the player below to learn how you, your company or any association you belong to can invest in Atlanta and/or contribute to social entrepreneurship in your city. You can also subscribe to In Process on iTunes to receive this episode as well as future updates from the show on your smartphone.

Leveraging Diversity and Inclusion as Business Drivers

Strategies and Tactics for Implementing Diversity and Inclusion into Your Business

Strategies and Tactics for Implementing Diversity and Inclusion into Your Business

Even though we’ve made a lot of strides during the last several years, particularly in the last decade, when it comes to creating a more diverse workplace, there’s been huge interest of late in enabling and leveraging diversity and inclusion as key business drivers―whether to spark innovation, improve operating profit or enhance a company’s reputation, for example.

Eighty-five percent of new entries in the workforce are women or minorities. And, you can’t discuss women and diversity obviously, without talking about the impact of multiculturalism and millennials in the workplace. When you figure in the 10,000 Baby Boomers who are leaving the workforce each day, there’s a talent tsunami headed our way for which many companies simply aren’t ready. 

This week in In Process (Trusted Counsel's bi-weekly podcast show), we revisit a previous interview with Jeffery Tobias Halter, gender strategist and author of “WHY WOMEN – The Leadership Imperative to Advancing Women and Engaging Men”; and Sharon Orlopp, retired global chief diversity officer and senior vice president of corporate people at Walmart.  
 
“Using a dancing analogy: Diversity is about being invited to the dance, but inclusion is actually being out on the floor dancing,” said Sharon. “Inclusion is an action verb; it requires each of us to do something, to include others. Diversity is a lot about metrics and measurements and what makes us different.”

In terms of creating a 21st century workforce, “Diversity and inclusion have to be embedded throughout the business―in marketing, operations, the supply chain, etc. It cannot be solely owned by HR or the Diversity Office. That’s how companies run and operate,” said Jeffery.

During the course of the podcast “Leveraging Diversity and Inclusion as Business Drivers,” working professionals―in both large corporations and small-to-medium-sized companies―will learn:

•    Today’s definitions of diversity and inclusion and how they differ
•    The tangible and intangible benefits of diversity and inclusion
•    Current barriers to diversity and inclusion in the workplace
•    Strategies and tactics for implementing diversity and inclusion into business
•    How to create an environment of support 

Stream the conversation with Jeffery and Sharon in the player below to learn how a workforce built on diversity, inclusion and differences can help your business seize the competitive advantage. You can also subscribe to In Process on iTunes to receive this episode as well as future updates from the show on your smartphone.