DROP DEAD UGLY
With the end of financial year (EOFY) in many countries coming up, there’s an opportunity to consider adopting Drop Dead Ugly strategies.
What we mean is the process of looking closely at all one’s business activities (sales, marketing, advertising, development), products, relationships (customer, supplier, staff), processes, behaviours that have become Ugly, unproductive, unprofitable; no longer serving anyone’s best interests.
Time and effort is money, a scarce resource that cannot be squandered to Ugly activities.
Dropping actions which don’t grow, expand, improve or nurture business should be viewed as toxic and therefore dropped.
There’s absolutely no sugar coating to this big idea, as it takes a lot of honesty to admit something has become Ugly.
EOFY is the perfect time to be bold and identify all the things that aren’t working; dropping then dead!
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Whilst cost cutting is a strategy which produces an outcome(s), does it longer term produce sustainable ROI (return on investment)?
Usually ROI should be measured by the costs of “doing something” versus the “value” delivered.
When implementing a cost cutting program, it’s so important to conduct a 360 degree examination of impacts and consequences before implementation is considered.