SBS Group Guest Blog: The 4 P’s to Profitability

BY BRAD BONOMO

Guest Blogger Bio:

Brad Bonomo has served within the CEO, CFO and COO capacities for several high growth Technology, Network Security and Mobility organizations throughout the past 15 years. In addition, he has resided on multiple boards of directors, founded both corporations and non-profits, and offers periodic executive coaching and business consulting through his company, Logic LLC based out of Scottsdale, Arizona.

People, processes, platforms and perfection generate profits. These basic concepts can provide sustainable value to business leaders facing the constantly shifting challenges of today’s market places. Throughout my various tenures as an executive, consultant, coach and board member I’ve been constantly asked, “What makes a sustainable growth model?  An organization that continually generates incremental profits time and time again”. As with many dynamic equations in life, if we strip away the fluid complexities we can discover simple yet effective core concepts that are tried and true.

Many of our organizations’ most valuable assets are people; human capital. Their skill-sets, innovation, consistency, strengths, weaknesses, motivations, ethics, drive, personalities and communication practices often encompass the largest impacts on our bottom lines. However, a considerable amount of companies, both small and large, lack effective modern strategies to recruit, develop and retain these resources where their highest untapped ROI could reside. Conducting multiple interviews with several stakeholders, mandating in depth personality tests and comparing them to top performer’s results, investing in comprehensive new hire training programs, true team integration and establishing residual development programs are no longer an option; they are a necessity.

An old business adage recites, “Can you create a better hamburger than McDonald’s? Yes! Can you create a better system than McDonald’s? No.” Once the process of getting the correct teams in place exists, we must ensure that these teams are provided with the correct arsenal of processes and platforms. Roadmaps targeting desired outcomes, benchmarking, situational protocols along with the correct CRM, ERP, and other mission critical applications are the lanes in which we drive our business within.  Take a look at most of the leading teams out there and you’ll see that they have systems and plans in place to manage everything from managing cash flow to setting up a new hire’s email signature; these are what differentiate how one organization conducts business from the other and it is apparent that the cream surely rises to the top tier proficiency achieving precise equilibrium between adaptability and bureaucracy.

The final concept is perfection or the formation of a sustainable culture never to be satisfied or accepting of the “if it isn’t broke, don’t fix it” theory; companies that point dedicated resources to proactively seeking innovative approaches to improve or retain “A commitment to excellence” often seem to magically reinvent themselves more times than Bob Dylan himself. There’s a reason why the Nokias (Paper Mill to Mobile), Apples (Apple I to i-Series) and 3Ms (Too many to list) have sustained while the Blockbusters and RIMs have struggled and this could be a fatal origin. While these concepts certainly don’t guarantee the secret recipe of success and hold all of the answers to cyber security, “Obamacare” and access to capital they can provide the proven framework to look at those obstacles through.  Here’s hoping your people, processes, platforms and perfection generate the incremental profits you’re aiming for.

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