The Three P’s: Process And Policy Lead To Profit – Episode 2 – Part 2
As Clay Clark and Jack Nadel wrap up this series on The Three P’s: Process and Policy Lead to Profit, they dive into the final “P”, profits. Learn how the proper implementation of processes and policies in Nadel’s business have helped him to reap massive profits and gain success in business. The core principles revolve around the Three P’s of process, policies and profit. Nadel attributes big success and profits to actually following through on the execution of your established processes and policies.
Nadel shares a story about a difficult situation that came up while running one of his companies. One of the policies in place was violated by a senior executive and one of the best members of Nadel’s team. Once he found out about the violation in policy, Nadel followed through on the consequence of the infraction and fired the executive. Nadel did not base his decision upon the previous success of the executive or his track record. He made an unemotional response to the situation based upon the policy that was violated. Nadel stresses the importance that your processes are followed and your policies are enforced in order to find the profits. By taking an unemotional approach to running your business, you allow your company to get to the profits.
Nadel also throws in a fourth P – predictability. Jump into this training to learn more about how your processes and policies can lead your business into a position of profitability and growth.
- You must document and follow your processes
- You must document and follow your policies
- Focus on the profit.
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