Building profits and MOats with Best Practice standards....(PT 1 Strategic Advantages )
- Steve Fleetwood
- Mar 24
- 3 min read
BPS or Best Practice Standards are now fundamental for the modern company and organisations. This is a strategic and tactical advantage IF you have created an organisation that's 80% to 90% of BEST Practice Standards for your Industry....
Coming from an Industry whose legal, functional standards (compliance) and day to day operations with the market where extremely stringent (ASIC Licensing requirements and due diligences). Our process's where conitinually being improved (KAIZEN principle and we started to develop a paperless office in 2000! And by year 2002 we were about 80% paperless), to the point we were far more efficient and productive than 90% of our competitors (this garnered far better clients over the next 8+ years).
The MAIN Strategic Advantages of working to 90%+ of BPS:
1/ Your clients experiences will be tier 1, as you have no doubt built a "OMNI" channel business (See below posts on how to) creating repetitive business (and thus TRUE EARNINGS Power),
2/ Your Goodwill within the community will be significantly higher than your competitors and industry and become a reinforcing and a forcing function for your culture and the community (repeating cycle on itself and thus gaining more momentum "Snow Ball effect" and compounding affects),
3/ You will be able to maintain and sustain more effectively your earnings power (protection from macro, industry and business forces (e.g. sales cannilbalisation (we see this quite a bit with our clients competitors, which gives us hints, insights and clues how to use certain strategies to outsmart/out manoeurvre/out compete them for our clients),
4/ Your reputation will be FIRST CLASS, and you will gather and be more magnetic to new employees who want to join you and give you access to their exceptional worth ethic, productivity and their innate creative and inventive skills and spirit that flows through your organisation to the market and the community at large.
Remember, it goes from Brand Power to Market Power to Earnings Power to Social Empowerment.
I was consulting to a architecture firm, who the CEO was voted Telstra Businesswoman of the Year for our state (she contacted us!). She had problems with Culture (motivation and the "siloing" effect in culture and leadership elements) and wanted a family! I had to change from consultant to my "Executive Coaching" cloak, to go through each pathway.
Does she work through multifacted issues (top line (there main business was government contract competing (which was a "RED OCEAN" strategy), and Culture and Leadership)) which would be a 3-5 year project or does she "Hand the baton" to an upcoming "Rising star".
However, he was still untested and a little bit green (but technically exceptional in the architecture skills). After multiple consults, she chose to step aside and pursue her private goals over career goals!
5/ Industry AUDITS will be quick, clean and efficient. If you have ever been audited (greet this as an opportunity to Improve, rather than a personal attack on personal Business expertise) you will know it CAN BE extremely disruptive!....
In fact, you will find the 99th percentile firms will greet this with great anticipation, as one CEO put it to me, he viewed the external "Auditors" as his clean-up crew.....think about that!
We will do Tactical Advantages of BPS in next Blog!...
Opportunities are everywhere.....Use them to your advantage, strategically and tactically....
Course Update: We will be now including AI in our course, Our new course:
"The Genius Entrepreneur and Business Leaders" -Sustainable Sales for Future Markets and Economies.
Available for digital downloads soon.
Contact Star for a consult with our MBA+ consultants... for fast development, improvement, and growth in Strategy, Sales, Marketing, Leadership, and Culture for sustainable strategic advantages and earnings power!
Or Myself,
We look forward to interacting with you soon.
Steve Fleetwood: Founder,
MBA, MApp Fin (CF, IA), DFP-CFP, Cert 4 Training and Assessment.
M Int: +61 433 622 265
M Aus: 0433 622 265
Also, we are receiving more international enquiries, so we will be instigating a phone consult per minute service, allowing for quick and easy access to US.
NOTE: No AI was used in any of these posts besides grammar/spelling checker and Picture generation!
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