We achieve more together
An economist was asked by a business leader of a family operated corporation to help turn-around the business. It was losing money despite having a strong client base. The economist said he would decide whether to do it only after taking a walk around the business premises to get a sense of how its operations worked. Upon completion of his preliminary assessment, he said he would help the corporation re-organise its’ operations on condition that he be given the power to sack some of the business leader’s relatives who were employed.
Creative business synergy focuses on getting maximum returns from investments in the business operations. Organizational efficiency is key to getting good returns on investments in people and physical resources.
Following are some of the ways you can create synergy for greater efficiency and better returns on resources:
Two inefficiencies the economist identified in the family corporation were, over-staffing and task duplication. Staff in the production, invoicing and credit control departments were re-entering data on customers which were already available in the data base software used by the sales department.
By allowing access by all departments to the data base in the sales department, the corporation was able to streamline the processing of sales, delivery and payment collection thereby increasing efficiency with a reduced number of staff.
Pool Marketing & Sales Power
A small retail outlet that specialised in all natural pastas and sauces teamed up with 10 other natural food outlets each specialising in different products such as coffee & teas; jams & honey; multi-grain cereals; etc. to set up shelving spaces in each of their retail outlets to display each-others products. This created a chain of 10 small out-lets with multiple natural food offerings across the city thereby creating a bigger market out-reach for products offered by each of the retail outlets individually.
Tailored Products & Services Partnerships
Too many businesses buy computing hardware and software only to neglect getting maximum benefit out of their investment.
A computer hardware store worked in partnership with a software provider and a business consultant/trainer to sell a package of a mobile tablet pre-loaded with business software with the business consultant providing the necessary consulting and training for business customers to maximise on the utility of the purchase.
Connect for Networking Benefits
Last year I was able to experience more Folklorama cultural events than I could physically attend because many attendees posted videos of the cultural performances across Winnipeg on the various social media platforms.
For many people the Shopping Mall or Strip Mall is a destination that offers the convenience of shopping within one common space where shops are close enough to offer variety, time saving and the convenience of proximity.
BizExchangeMall.com offers similar conveniences for residents across the city to find many of the products and services they are looking for on a single platform.
Increasingly, many individuals now enjoy the experience of browsing online for product and service information before making that call for an appointment. A continual social media presence on multiple platforms and Email invitations for weekly networking events encourages visits to BizExchangeMall.com
Synergy happens when we create a sum total that produces a greater output than independent individual efforts added up.
I cannot be the sales person for 200 businesses, but I can be the sales person for one mall promoting 200 businesses or more …
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