Get Interim Help to Solve those Sunday Night Monday Problems

We have all been there.  The emails start to escalate, the priorities of the upcoming week begin to loom, and our mind starts racing Sunday afternoon and evening.  It is unfortunate that we are giving up part of our Sunday worrying about what lies ahead on Monday.  You need some interim help to get ahead and remove the problems

The Positives-Keep Going

• Excited for the new week and the opportunities that lie ahead
• New product about to launch and the team is fired up
• Had a great year and met your quota
• The team is engaged and looking for new challenges

These thoughts are the ones you want to go to sleep with, excited for what the new week will bring and to get back in the action.  Engaged teams, fired-up employees, and a business that is firing on all cylinders.  That’s the making of profit momentum!  Sleep WELL!

The Negatives-Get Interim Help

• The project is behind and under-staffed
• The team is not focused and not working on the right priorities
• Too many fires to put out and new ones are already lit!
• The company is struggling and you are not sure how to dig out

Unfortunately, these issues cause stress as they creep into our Sunday night and makes for a lousy Monday.  These thoughts and challenges cause us to put off the important for the urgent.  Our tendency is to say, “I will get to it tomorrow after I put out the urgent fires of today”

It does not need to be this way.

It is time to knock these issues down and change every day to a positive day.  If you have a project that needs some help, or you need someone to help douse the flames, give us a call and we can discuss strategies to help you sleep better on Sunday night and every night!  Let’s create profit momentum by working on the right things at the right time.

www.profitumconsulting.com

Know your Product Profit Contribution

There are many fundamentals that successful businesses focus on to maintain their profitability.  They include sales, hiring great employees, customer satisfaction, on-time delivery, operations, and innovation.  One area that does not get reviewed enough is the product portfolio profit contribution.  It is critical to complete frequent reviews of your product portfolio to ensure it is meeting expected targets and sales goals.  A comprehensive review and action plan can help you realign your portfolio to maximize your product profit contribution.

Analysis needed to Uncover your Product Profit Contribution

Here is some analysis that should be done to ensure your product portfolio is delivering the most revenue and profit for your business:

• Work with finance to update the fully loaded costs of each product or SKU
• Have your product managers review pricing and competitiveness of each product
• Have supply chain review latest materials costs and look for optimization opportunities
• Review the products generating the top 20% of revenue and profit
• Complete weighted profit analysis based on sales generated

Actions needed to Raise your Product Portfolio Profit Contribution

• Implement cost reductions on your most valued products
• Adjust pricing (up or down) for competitive conditions and product profit contribution
• Align your marketing and sales strategies around your most profitable products
• Update your future product road map based on projected market needs and gaps
• Evaluate channel optimization strategies
• Remove products that are not hitting the right profit targets

These actions will align your organization’s marketing and sales around your most valuable products while optimizing your ability to create profit momentum.

Profitum Consulting will utilize a Product Advancement Process (PAP) that will walk you through the necessary steps.   We can sit down with your team and lay out a work plan to optimize your product portfolio.  To get started email us at info@profitumconsulting.com or call 760-695-6772

www.profitumconsulting.com

Market or R&D Driven Product Development?

IT’S BOTH!  If you answered one or the other, you are not optimized for the best outcome.  It is imperative that Marketing and R&D are working as partners and equals on any product development program.  While there are disagreements and conflicts, working through those is what yields world-class product portfolios.

Market Driven Outcomes

• Market understanding and sizing drives product opportunities
• Strong competitive understanding (SWOT)
• Customer voice being utilized
• Support unique value proposition

R&D Driven Outcomes

• Innovative products/broad thinking
• More realistic schedules
• IP optimized

Evaluate how well your Marketing and R&D teams are working together.  There must be an obvious and almost tense relationship to ensure the best product is designed, driven by user needs, competitiveness, innovation, and time to market.  More importantly, there must be trust and mutual respect to have the best outcome.  It is always a game of trade-offs that need to be made based on solid market and R&D constraint understanding.

With decades of product marketing experience working with many R&D teams, Profitum Consulting can help you optimize this unique cross-functional relationship to yield a world-class product portfolio for your company.  Call 760-695-6772 for a consultation and evaluation of your product development process or email mike@profitumconsulting.com

www.profitumconsulting.com

So Why Hire an Interim CEO?

Many companies are faced with challenges whether they be market driven, product driven, or organization/culture driven. When leadership changes are required, hire an interim CEO to fully characterize the problems and define the right strategies to drive success.

When You Hire An Interim CEO, You Get:

Unbiased- clearly articulate the needed changes without political or personal gains.

Open Communication- Employees will be open and discuss required improvements to help frame a positive future.

Job Description- Will describe the right skill set required for the next leader.

Respect/Buy-in-Employees will respect the board’s decision to bring in an unbiased expert to articulate the needed changes.

Direct Feedback- The interim CEO is not motivated to say what the board wants to hear.

These benefits allow for a faster definition of the issues and sets the organization up to find the right leader that will drive positive change and profit momentum.

Request Our Guide – How To Hire An Interim CEO:

We have a great check list for hiring an interim CEO.

Request your copy at info@profitumconsulting.com.

www.profitumconsulting.com