Optimizing Your Resources for Business Growth - Part 1

In our next few posts, we'll be discussing how a comprehensive evaluation of your existing resources can optimize your capital utilization and boost profit margins. In this post, we'll cover three strategies to maximize the potential of what you already possess: identifying the obvious, making unconventional breakthroughs, and acknowledging realities.

Identifying the Obvious

At times, being deeply involved in something may prevent you from seeing the bigger picture. Step back, take a comprehensive look at the resources already at your disposal. There are opportunities around you that could propel your career and contribute to your business's success.

Finding Unconventional Breakthroughs

Waiting passively for breakthroughs is a no-go. You should be the one orchestrating them. A breakthrough is simply an innovative method or a new process that delivers the same or even better results. Regular brainstorming sessions and encouraging your team to suggest breakthroughs or ideas whenever they emerge can help you create a culture that celebrates innovation and employee engagement.

Here are a few breakthrough examples:

• A beauty company identifies a product side effect that can be remarketed and sold.

• A business introduces a roll-on deodorant inspired by the form and size of a ballpoint pen.

• The Nike founder creates a groundbreaking running shoe by pouring rubber onto a waffle iron.