Tag: value

3 Ps, 3 P's, People Product Process, Product People Process, Marcus Lemonis, The Profit, CNBC's The Profit, CNBC, strategic risk

6 Versions of the 3 P’s as seen on CNBC’s “The Profit” with Marcus Lemonis

Published on by Grace LaConteLeave a comment

One of my favorite TV shows is “The Profit,” a CNBC production starring multi-millionaire entrepreneur Marcus Lemonis.

CNBC The Profit, The Profit with Marcus Lemonis, Marcus Lemonis, The Profit TV show
CNBC The Profit with 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.

3 Ps, 3 P's, People Product Process, Product People Process, Marcus Lemonis, The Profit, CNBC's The Profit, CNBC, strategic risk
Marcus Lemonis – People Process Profit

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.

Continue reading “6 Versions of the 3 P’s as seen on CNBC’s “The Profit” with Marcus Lemonis” →

company culture, internal culture, business culture, culture building, Facebook Live, FB Live, strategic risk, FAQ

Company Culture FAQs Part 3 of 5

Published on by Grace LaConteLeave a comment

In part 3 of the series about Frequently Asked Questions on creating a sustainable Company Culture, we discuss the benefits and downsides of social media.

I’ll also share my secret to finding balance as a business owner.

Watch the recorded video here, or reading bonus-filled content below.

Continue reading “Company Culture FAQs Part 3 of 5” →

company culture, internal culture, business culture, culture building, Facebook Live, FB Live, strategic risk, FAQ

Company Culture FAQs Part 2 of 5

Published on by Grace LaConteLeave a comment

This is the second post in a series about Frequently Asked Questions on the topic of Company Culture.

I will explain why it’s important, and provide some examples of companies with a good and bad  culture.

Watch the recorded video here, or keep reading for bonus-filled content.

Continue reading “Company Culture FAQs Part 2 of 5” →

color consult, professional color consult, color analysis, color theory, color fan, color palette, color consultant, professional image, risk management

What Happened After I Got a Professional Color Consult [Video]

Published on by Grace LaConteLeave a comment

As a business consultant specializing in strategic risk, I discuss all areas where a company can be vulnerable to failing long-term.

One area that I believe affects a lot of business owners—but that we don’t often talk about—is how we present ourselves professionally, which includes the colors we wear.

In this post, I share my story of meeting with a professional color consultant, what I have learned, and why I believe it is a very helpful tool in reducing business risk.

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business model, brick and mortar, franchise, direct sales, MLM, multi-level marketing, strategic growth, risk management

What’s the Difference Between Brick-and-Mortar, Franchise, Direct Sales, and MLM?

Published on by Grace LaConte1 Comment

Business opportunities seem to be popping up out of nowhere these days.

If you are a company owner, you may be wondering whether to tweak your business model to keep pace with the newest social network and marketing methods.

If you’ve always dreamed of becoming an entrepreneur, you may be tempted to jump into the glittering promises of Network Marketing companies that showcase the opportunity to…

“Be your own boss!”

“Ditch the 9-to-5!”

“Generate passive income with no start-up costs!”

Since there is so much confusion about these terms, and the structure behind them, I decided to share my definitions for common business terms.

In this post, you’ll find a cross-section of 10 popular business models, along with my opinion about what is actually happening behind the scenes.

Continue reading “What’s the Difference Between Brick-and-Mortar, Franchise, Direct Sales, and MLM?” →

company culture, culture, culture iceberg, corporate culture, internal culture, surface culture, deeper culture, risk management, management, business ownership

Understanding the Culture of a Company, Part 2: Deeper Culture

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Some aspects of a company are easy to see from the outside. These “surface” elements include things like the logo, building, language, and communication style.

But there is also a foundational layer that are an extension of the owner’s beliefs and values.

Let’s explore the mysteries that lie under the surface of a company… the Deeper Culture.

Continue reading “Understanding the Culture of a Company, Part 2: Deeper Culture” →

estimate, quality, qualitative, qualitative loss, risk management, staff turnover, layoffs, resignation, strategic risk

How to Estimate the Qualitative Loss From Staff Turnover

Published on by Grace LaConte1 Comment

 

What is an employee worth to you?

Not just their ability to generate sales or produce a measurable outcome, but also in terms of the experience they provide, and the emotional impact they make?

How can we calculate the degree of value an employee brings to a company, and what we lose when they quit?

Previously, I discussed ways to increase Risk Intelligence after staff turnover, and how to calculate the financial impact.

In this third segment, I explain hidden values employees provide, the 9 things we lose when an employee leaves, and simple ways to calculate the cost of quality.

Continue reading “How to Estimate the Qualitative Loss From Staff Turnover” →

SWOT, SWOT Diagram, Weighted SWOT, SWOT Assessment, Strengths, Weaknesses, Opportunities, Threats, strategic planning, internal risks, external risks, comparison, comparative SWOT

How Do I Make a Weighted SWOT Diagram? [Video]

Published on by Grace LaConte3 Comments

Today, I’m going to explain how to look for hidden opportunities and risks in your organization using a weighted SWOT analysis. This strategic management tool allows you to calculate your options, which leads to decisions that are risk intelligent.

Continue reading “How Do I Make a Weighted SWOT Diagram? [Video]” →

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What is Transaction Avoidance Syndrome? Part 3 of 3

Published on by Grace LaConte3 Comments

Part 1 | Part 2 | Part 3

Evaluating your own professional worth can be very difficult. As mentioned in previous posts, our underlying discomfort with transactions can cause us to make long-lasting mistakes.

Even outwardly “successful” business owners often struggle with Imposter Syndrome: the fear that eventually, someone will find out we were faking it all along. As a practitioner, you may feel uncomfortable discussing costs with your customers. You might wonder when you’ll get paid but take extreme measures to avoid discussing the topic of money.

These are all signs of Transaction Avoidance.

Practical Solutions

If you are having trouble charging what you’re worth, here are some tips:

Continue reading “What is Transaction Avoidance Syndrome? Part 3 of 3” →

dollar signs, Euro symbol, Yen symbol, Dollar symbol, Pound symbol, payment

What is Transaction Avoidance Syndrome? Part 2 of 3

Published on by Grace LaConte2 Comments

Part 1 | Part 2 | Part 3

A transaction is what happens at the end of a business exchange. The word comes from the Latin: trans- (“through”) and -agere (“to drive”).

As discussed in Part 1, many things can go wrong when we exchange payment for a service or product. A lot of us feel an underlying discomfort when we receive money.

This discomfort can look harmless at first. As a practitioner, you might spend “a few extra minutes” with each patient, or put off discussing payment options until the end of the visit. But the subconscious avoidance can have a very damaging effect on our business profitability.

Let’s take a look at why this happens.

Continue reading “What is Transaction Avoidance Syndrome? Part 2 of 3” →