Profit Think Tank

Profitability a2z™: Profit Word of the Day = Pride

What impact does pride have on your profitability? People take care of things when they have pride. They invest more resources and energy into building pride. Pride can motivate you. (It can also blind you.) But in the end, a healthy sense of pride can be an important building block.

Profitability a2z™: Profit Word of the Day = Persuasion

Being persuasive can be extremely important in business. And persuasion does not necessarily have to mean "manipulation," as persuasion is more often used for positive things than negative ones. For some this is natural, for others there is more of a learning curve, but the skills can be learned. There are several books which study persuasion, as well as many opportunities to improve your overall communication skills (a key element for persuasion.)

Profitability a2z™: Profit Word of the Day = Packaging
Packaging is an interesting concept in marketing an profitability. In terms of a physical product, the physical packaging has a tremendous impact on the perception of product quality and price, even though it may have little, if anything, to do with the base level of product quality or cost. So it matters. Though a little less intuitive, the concept of "packaging" can also apply to services or bundles of service, and even to the "packaging" you put around yourself or your company.

Profitability a2z™: Profit Word of the Day = Outputs

Profitability is really just the culmination of inputs and outputs. You put things into the business and things come out. In the end, we tally it all together and you have profits. What are the outputs of your business? Worded differently, what results from the various inputs in the business. Study this and watch your knowledge of how profitability works in your organization grow!