People, Product, and Process: The 3 Pillars of Business Success

When a business is stuck in Survival Mode—what we call the "run around"—it is usually because one or more of its foundational pillars are crumbling. At Business Development Machine (BDM), we address the three major concerns of all small businesses (as Marcus Lemonis accurately coined the phrase): People, Product, and Process.

You cannot optimize a business by focusing on just one of these areas. They are an interlocking closed-loop system. Here is how the BDM approach tackles all three.

People

The human element is often the most challenging part of taking the Entrepreneurial Plunge. You can have the best product in the world, but if your people are not aligned, you will fail.

Addressing the "People" pillar requires building openness and a culture of forgiveness. It means establishing a tolerance for error specifically for growth and development, allowing employees to point out frustrations without fear. It also requires understanding the "what's in it for me" (WIIFM) factor to overcome the inertia of force and gain true employee buy-in.

Product

Your product or service is the engine of your revenue, but simply having a good offering is not enough. You must know how to position it and sell it.

Addressing the "Product" pillar involves finding the ideal new business road map to establish market share. This is where our proprietary "Selling With an Empty Cup" (or "Selling Without Selling") methodology comes into play. It teaches you how to use active business communication to get underneath normal assumptions, doubts, and fears, building profitable relationships rather than relying on manipulative sales tactics.

Process

Even with great people and a great product, a lack of process will lead to hidden profit leaks that drain 10%, 20%, or 30% of your gross revenue.

Addressing the "Process" pillar means implementing the Throughput Process. This is the journey of establishing standard operating procedures and statistical process analysis to eliminate waste and improve productivity. It is the path to achieving sustained continual cultural improvement (Kaizen) and ensuring that profit becomes a predetermined first expense, rather than a residual afterthought.

Take Control

Download The Purpose-Built Playbook today to discover how to optimize your People, Product, and Process for maximum profitability.