Published: May 29, 2007
Is a 'Sales at All Costs' Philosophy Hurting your Business?
International business analyst shows how to build a healthier company and edge out the competition
Sales, sales, sales... in today's cut-throat global market, business leaders know that increased sales are essential to fuel company growth and boost the bottom line. Right? Not necessarily. Many companies are spinning their wheels; exerting a disproportionate amount of energy into making more sales when in reality, they could have grossed a higher profit with fewer sales. That's why a better understanding of finances, employee contribution and profit margins is critical for businesses that want to stay viable amid fierce competition.
"So many company leaders are so fixated on increasing sales that they lose focus of the overall health of their business," says author and internationally acclaimed business analyst Michael Burdette. "They think sales figures are the only bottom line they need to worry about. But if you grow your sales blindly, you'll suffer the consequences. Trying to increase sales when your company isn't balanced as a whole can be downright disastrous. This holds true for businesses of all sizes."
Burdette's new book, "Contemplate Your Business Navel," demonstrates why company leaders and managers alike must have a solid grasp on how to decipher company finances, build a cohesive team of employees and strike a balance between profit boosting and cost cutting. That's best achieved when everyone from the CEO to junior managers understands how to link financial analysis with operational analysis.
"Listen- to maximize efficiency and profits, everyone should know how to analyze where the business is spending its money," says Burdette. "The next step is the ability to develop achievable budgets and forecasts. You must empower your team by improving their competency in areas that typically are relegated solely to specific departments. The accountants shouldn't be the only ones who know how to read a Profit and Loss Statement and Balance Sheet."
"Contemplate Your Business Navel" stands out from other management books for several reasons. For starters, it's not your standard, tedious business fare. The book is peppered with humorous artwork created by Michael and his daughter Kathryn. It also features practical business templates and tools Burdette created to simplify the complex issues of running a company. For example, the "Burdette employee contribution rating," measures the contribution or value that each employee adds to the company. "Labor is one of your most expensive resources," says Burdette. "This is a great way for managers to evaluate the true performance of each employee. And this isn't just a concept- we've used this rating system with real companies across a broad spectrum of industries."
Burdette has created another standout evaluation tool with the "Burdette growth matrix." This is a simple way for businesses to determine what steps they need to take before embarking on a sales growth program. As he points out in the book, trying to pump up the sales figures without having adequate support in place is a huge pitfall for many companies and can ultimately seal their doom.
Burdette's keen teachings are readily available to thousands of companies through his website, www.burdetteanalysis.com.au. On the site, as in his book, Burdette has launched an innovative series of practical business diagnostic and analysis tools that make him a pioneer in simplifying business finance and operations.
"Contemplate Your Business Navel" offers insightful advice and business tools that will help businesses of all sizes in all industries improve their efficiency, performance and health-improvements which are sure to help them gain an advantage in an ever-changing business environment.
Paperback: 186 pages
Publisher: BookBiz USA LLC
Available at: www.amazon.com www.barnesandnoble.com
About the author:
Michael Burdette was born in a gold-mining community in South Africa in 1954. After serving a government mandated stint in the South African Army, he earned dual degrees in Mechanical Engineering and Industrial Electronics.
He moved to Australia in 1983 and quickly adopted Australia as his homeland. It is there that his larger than life personality and sharp business acumen helped him develop an extremely successful career. For the last 25 years, his proven area of expertise has been his uncanny skill in successful business turn-around strategies. His book is the result of many requests from past and present clients to share his no-nonsense and personal approach with a larger audience.
He was featured on an ABC program, "8 Days as a Week," as a mentor to small business owners. He is currently a highly sought after speaker for business conferences around the world.
Michael is a well-rounded bloke with diverse areas of interest. He's an accomplished artist, enjoys collecting and playing unusual musical instruments and is an avid sportsman who's tried everything from Rugby League to kick-boxing.
He has two adult children of whom he's extraordinarily proud.
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