Part 4/6: Developing Your Operating System: Key Performance Indicators (KPIs)

Key performance indicators (KPIs) are how you measure success in every operation, process, team, or person in your business. Every process and person should have 1 or 2 KPIs that clearly measure how well they’re doing their part to contribute to the profitability of your company.

Part 3/6: Developing Your Operating System: Operating Strategies & Tactics

ActionCOACH Rick Phelps describes how he helped Cleveland Cliffs add $100 million to their bottom line by developing a process of continuous improvement for them.

Part 2/6: Developing Your Operating System: Your Default Operating System

In part 2 of the Developing Your Operating System vlog series, ActionCOACH Rick Phelps dives into the importance of thinking through each role relationship in your system and why having a coherent operating system is in the best interests of your whole business.  Often, the cost accounting system (Lowest Cost + Lowest Cost + Lowest Cost =…
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Part 1/6: Developing Your Operating System: Connecting All the Pieces

Every business has an operating system – but not all have a clearly defined one. We want to help businesses build systems and processes that make them successful and highly profitable.Watch this vlog to learn how to connect all of the parts and roles of your business to its objectives and goals.

Part 8/8: Understanding Your Economic Engine: Cash Is King

In the final vlog of our Understanding Your Economic Engine series, Coach Rick Phelps discusses the importance of positive cash flow in businesses. He explains through real-life stories and examples why “Revenue is vanity, profit is sanity, and cash is king.” Watch the vlog to learn more!

Part 7/8: Understanding Your Economic Engine: Inventory

In part 7 of this vlog, ActionCOACH Rick Phelps introduces inventory into the throughput accounting model and suggests focusing on three areas of your business. Watch the vlog to learn more!

Part 6/8: Understanding Your Economic Engine: Productivity

In part 6 of this vlog series, Rick Phelps of ActionCOACH introduces three productivity metrics that should be used as key performance indicators for your business.

Part 5/8: Understanding Your Economic Engine: Product Profitability

Traditional cost accounting is not 100% accurate when trying to determine which products are the most profitable to manufacture in your company. Why? Simply put, it does not factor in your business’s constraints. dollars per minute which will determine each product’s profitability. This form of accounting provides a clearer understanding of issues in your company and a path to solving them quickly so you can gain greater profitability. Watch the vlog to learn more!

Part 4/8: Understanding Your Economic Engine: Quoting to Ensure a Profit

Miscalculating the actual costs of your product or service hurts your bottom line. The good news is there is a formula that you can use to determine the relative profitability of each of your products and services. When applied to your quoting process, this calculation will guarantee your business makes a profit with every sale. Watch vlog 4/8 to learn more!

Part 3/8: Understanding Your Economic Engine: Scheduling Your Profit

Knowing how profitable your business will be each day, week, and month requires you to schedule your throughput dollars per job in advance. Watch part 3 of this 8 part vlog series to learn more!