The Three P’s: Process And Policy Lead To Profit – Episode 2 – Part 1
In this segment of The Three P’s: Process and Policy Lead to Profit, business coach and entrepreneur, Clay Clark, and world-renowned entrepreneur, Jack Nadel, dive into the policies portion of Nadel’s Three P’s ideology. Clay shares his enthusiasm and passion for having policies and processes in place in his businesses because he knows that they lead to profits.In this segment of The Three P’s: Process and Policy Lead to Profit, business coach and successful entrepreneur, Clay Clark, and world-renowned entrepreneur, Jack Nadel, dive into the policies portion of Nadel’s Three P’s ideology. Clay shares his enthusiasm and passion for having policies and processes in place in his businesses because he knows that they lead to profits.
Clay asks Jack Nadel to expound upon the places where policies really matter in a business. According to Nadel, policies are built and developed through actual business experiences. It is through the failures and successes in a process or policy that you can know in your business how to best create a policy. These policies will provide the structure and guardrails needed to successfully replicate the desired results in those situations and circumstances. Nadel recommends that before any changes to a process or policy can be made that one evaluates the existing policies.
In your business, can you evaluate your own policies to find where it can be improved upon or made more efficient? Are there unneeded or unnecessary policies in place? By examining what is already in place, you may find that you can save money increase your business’s profits by making a simple policy change. By knowing what policies currently exist, you can know the best way to make the changes that you need to move your product or service closer towards your business goals.
Take action:
1. Begin to deep dive into your business’s policies.
2. Determine where your company’s policies could be improved to increase sales revenue and profits.
3. Begin making changes to your policies that help you progress towards your business’s goals
Do you need help determining what the policies or processes are that are stunting your business’s growth? Reach out to one of our business coach specialists to learn more about how the Thrive team can help you grow your business.
