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‘In the Black Production’ covers the production concepts in the book ‘In the Black’.
In the Black Production
This episode covers the three principles of production outlined in the book “In the Black” by Allen Bostrom. We covered the three principles of marketing in the last two episodes, so this episode is all about the production with Roger Knecht of the Universal Accounting Centre in Utah.
Please listen in as Roger goes into a lot of depth and we only give a very brief overview of the topic here.
To listen while you drive, walk or work, just access the episode through a free podcast app on your mobile phone.
In the Black Production
There is Marketing, Production, and Accounting. In this episode we cover production.
In the Black Production
Production generates revenue through activities like sales, shipping, billing, and quality control.
1 — Pour on the Communication!
Similar to the nourishment that water provides in a garden, communication plays a vital role in enabling employees to thrive and increase productivity.
Communication with your employees has three levels: Sprinkle, Rain, and Flood. Each is effective when used properly.
Sprinkle (Casual)
This should occur as opportunity permits, having some contact with each employee on an unscheduled basis i.e. a brief conversation in the hall or in his or her office. Simply ask them how things are going. Let them know that you’re available, and would like to help if they need anything.
Rain (Informal)
Regular newsletters or company activities are examples of this type of communication.
Flood (Formal)
At least once per year, management should schedule a financial review with the employees describing the company’s financial position and plans for the future.
2 — Improve Internal Processes.
Continuous improvement is crucial for analyzing and improving organizational processes. Asking questions like “Is there a better way to do…?” is key to achieving this.
3 — Take what you have and make it better.
Develop a long-term approach to improve your business and adapt to changes in the world. Remember that your competitors may be expanding their market base and improving their efficiency, so it’s important to stay competitive. Improvements may take time, but they are worth it in the end.
This is just a very short dip into the subject. Please listen in as Roger goes much deeper than this.
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Nothing Happens Until There is a Sale
Disclaimer: Tax Talks does not provide financial or tax advice. All information on Tax Talks is of a general nature only and might no longer be up to date or correct. You should seek professional accredited tax and financial advice when considering whether the information is suitable to your or your client’s circumstances.
Last Updated on 20 March 2023
Tax Talks spoke to Roger Knecht - President at Universal Accounting - for more details.
