A Little Bit Extra

Business results like warfare and sports are often based on inches and minutes rather than hours and miles. In other words, a little bit can make a big difference. A little bit extra in each of the key areas of business can make the difference between success and failure on a daily, weekly, monthly and annual basis.

Product Management

While great ideas and innovation are important in product management, so are developing and introducing products on time and within budget. More often than not, new products are introduced to the market late and well beyond their budget. The little bit extra in the area of product management is for each team member to commit to new product launches on or before the target date and within or below the budget.

Sales

Sales are about being in front of the customer with the product or offer at the right time and at the right price. If the customer does not know about the product, he will not buy it. If the customer does not know or see the sales person or account executive, he will not buy it. If the account executive does not follow-up or return calls, the customer will not buy from him. And finally, if the product is does not meet their needs or their allocated budget (they all have budgets) they will not buy it. A little bit extra by each and every member of the sales team in this area will make the difference between success and failure.

Customer Service

Ultimately, we are all customers. And what we want is to be able to reach someone knowledgeable who can answer our question or resolve our problem when we need them (regardless of when that is). Easy access to expertise with ownership for resolution. Sounds simple enough. The little bit extra in customer service is to build it around meeting these very simple customer needs. Resources, tools, processes and training all needs that little bit extra to create and keep satisfied customers who will never want another (car dealer, bank, phone or cable company, etc.).

Management

If product management, sales and customer service do a little bit extra that should leave less for management to do right? Wrong! Management serves many masters: their bosses, the board, the shareholders (if public) and (ideally) the employees. While there are huge debates about who serves whom and why, the truth is that for profit companies exist to generate wealth for either the owners (if privately held) or for the shareholders (if publicly held). The little bit extra is to insure that every day, ultimately every action supports those goals and objectives.

Acting in less time can win a battle. Gaining an extra yard can win a football game. And taking these steps in the areas of product management, sales, customer service and management can turn a business from a market laggard to a profitable market leader. It is a matter of a little bit extra.

George F. Franks, III is the founder and President of Franks Consulting Group, a Bethesda, Maryland management consulting and leadership coaching practice. He is a member of the International Coach Federation and the Institute of Management Consultants (USA). Franks Consulting Group is on the web at:

http://franksconsultinggroup.com

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George can be contacted at:

gfranks@franksconsultinggroup.com