By Tom Ottaiano, CEO, Today’s Business
If you want to succeed in the business world, you need to master the 3 P’s: People, Process, and Profits.
People
The Team
No strategy, process or idea is going to execute itself. The most important asset in a business is the people, and all success is contingent on your team.
Empowering the team is something that we have put such a heavy focus on from day one. Every year we work hard to make sure that we are setting measurable goals for each position in the company, backed by effective training procedures that will be a catalyst for advancement.
Growth is everything, and our intent is to have every single employee perfect their craft. We like to think that we have fostered a team environment that values both collaboration and individual growth.
The Executive Team
When you’re starting a business and assembling your C-level team there’s a lot to consider. The reason our upper management team works so well together is because we all have a different skill set to bring to the table.
A great team complements each other’s strengths and is in it for the vision of the business, not just for individual gain. Even though everyone on our executive team has three different areas of expertise, we find common ground in our passion for the business and our competitive spirit.
Process
Productivity is the lifeline of a business. If you want company productivity to be at an all-time high, you need to have the right processes in place. I like to think of our processes as the central nervous system of what we do here.
With steady YoY growth comes the demand to change and keep updating how things are done both on a high and micro level. We evaluate the efficiency of what we do on a quarterly basis, and that is what delivers the most optimal results. Sometimes our plans don’t pan out as effectively as we hoped, but it’s okay to scrap what doesn’t work and come up with a new plan of action. The processes we have in place now are night and day compared to how we ran things years ago. Making change is just part of the evolutionary process for a business.
Three of the most important programs we implemented in the past few years, which have had a positive impact on workflow, were an ERP (Enterprise Resource Planning) tool, a program for project management, and CRM (Customer Relationship Management) software. When you find technology that works cohesively to improve workflow, it makes for a better product and a more productive team.
Profits
When we first started Today’s Business, it scaled very quickly. We created a solution to a local demand for marketing that was going to take businesses into the digital age. What sets our product apart is that we set clear and defined goals for our clients and our team. Everything that we do circles back to Comprehensive Performance Marketing. Our highly targeted approach is crucial in the highly saturated digital landscape that we are all a part of today.
If you want to drive profits in your business, you have to define your goals from the inside out, similarly to how we have with our industry-leading CPM model. Defining clear initiative KPIs can put the accountability on your infrastructure and drive the most profitable results. By setting meaningful and attainable benchmarks for clients and creating a reasonable forecast for growth, you’re already well on your way to success.
From a high-level view, generating profits is the most important of the 3 P’s, but you can’t have profits without great people and effective processes. The bottom line is that people, process, and profits need to be in sync for your business to reap great rewards.