CPI - Consumer Price Index or something much more exciting?
CPI is a term that most people who studied economics, accounting or business would understand and relate to as: Consumer Price Index. While this term is sometimes used to measure inflation at a consumer level, it has a new and more exciting meaning that will represent a new capability for business owners and executives looking to grow, improve or transition their businesses.
In this case, CPI stands for Consult, Purchase or Invest – 3 options that I will consider when assisting a business to accomplish its stated goals. Very often, businesses are faced by people who want to help them, however, sometimes that business owner or executive would like to see the service provider put some “skin in the game”, to show the confidence they have in the future of the business. In this instance CPI should be seen as the Client Priority Initiative – an initiative that allows me to consider one, two or three options when working with the client:
To Consult with the client, and/or
To Purchase the business from the client, and/or
To Invest with the client
“That’s pretty bold,” you’re probably saying. However, I see it more about showing a level of confidence in my process that will deliver the Big Bang for Business that is promised in my recent book. If you haven’t yet read it, now is probably the time to get a copy, because it will offer a new perspective on business that you most likely have never seen or heard of before. It will get you back to basics and ensure that your decision making is less about “making a quick decision” and more about “making the right decision, fast”.
So how can you qualify for the Client Priority Initiative? Here are just some of the criteria:
You have an “old world business” – traditional manufacturing, service or distribution – that has the potential to be updated into a successful “new world” business. Example: your products/services, processes, management, marketing and technology could do with updating and improving.
You have a “new world business” that is not performing as well as you wish and you believe that changes in approach, focus, strategy, management and people may help to get you going.
You have a small or midsize business with annual revenue of between $2mil. – $10 mil., with a minimum of 5-10 employees, and performance is not being maximized or optimized.
Ownership and management have a vision to exit the business over time and the opportunity is “now” to get it into shape before selling or transitioning the business to a new team.
You have a business that you wish to grow and the approach you have been taking over the last 2 or 3 years has not been working. It’s time to talk to someone with a fresh viewpoint and a strategic vision for you.
If this sounds like an opportunity that resonates with you, all it takes is a quick call to find out whether it fits with you or you fit with it. After all, such a fresh approach may just be the answer to your immediate needs.
Neville Pokroy is a principal of Mastermind Solutions Inc., a Toronto-based consulting firm, and leads the marketing practice. He has more than 30 years of experience in corporate marketing and consulting in entrepreneurial businesses across an extensive range of industries. His focus is on helping companies with a vision to achieve business growth. He can be reached at (905)886-2235 or firstname.lastname@example.org
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