The Bottom Line- Back to Basics

Book excerpt: Many businesses fail today, but not because of poor finanancing, outdated technology, or lack of qualified employees. They fail because they lack the very basic elements that are characteristic of all successful businesses. They have become reliant on high priced consultants, to advise them on a course of action, to make their companies profitable, without looking internally for the answers that are already there. Businesses look to technology as the answer for many of all of their financial shortcomings. Rather than increasing revenues through aggressive and creative sales programs, they opt for the short-sighted approach of cutting expenses and dispensing with valuable experienced employees. But, there is another option. As a struggling golfer must step back and reexamine his setup, approach, and follow through, so too, must company owners step back and reexamine the mechanics of their business. They do not need to reinvent the wheel, they need to use the wheel. It is time for businesses to concentrate on The Bottom Line and get Back to Basics.