One of my favorite TV shows is “The Profit,” a CNBC production starring multi-millionaire entrepreneur Marcus Lemonis.
In each episode, Marcus evaluates a small business and decides whether to invest in its growth. The main tool he uses to make business decisions is called the “3 P’s of Business Success”: People, Process, and Product.
I was curious about who first developed this concept. Was it Mr. Lemonis?
It turns out this concept has its origins in Lean (a systematic processing method used to eliminate waste). After doing some research, I discovered 5 additional versions that can add depth to your understanding of how to run a successful business.
In this post, you will see each of the six examples and illustrations, along with ideas on how to increase your level of business risk intelligence.
Are your staff afraid to share what is going wrong in your company? Do problems keep happening, and you don’t know why?
A great solution is to step into the roles of your staff and see the situation first-hand.
One fantastic technique is what I call “Employee For a Day.” It is a simple, hands-on activity where an executive leader leaves their role, and she or he sits in the seat of employees to see the organization from their point of view.
In my previous post, I describe what happened when I entered the day-to-day world of my staff. It humbled me, challenged me, and ultimately led to several changes in the organization.
There were a few drawbacks as well. Here are all the dirty details of how to get started.