Optimising Your Business
1 min read

Optimising Your Business

Lessons from Personal MBA.

Optimisation in business simply means you maximise the output of a system or minimise a specific input the system requires to operate.

In general, you optimise the systems and processes behind your Key Performance Indicators, which measure the critical elements of your business. When you improve your KPIs, your system will perform better.

Maximisation in a system means you create more output and sell more while maintaining the efficiency and effectiveness of your systems.

Minimisation is you trying to increase your profit margin by minimising costs.

By definition, if you're trying to maximise or minimise more than one thing, you aren't optimising, you are making trade offs.  Optimisation has to be concentrated on one aspect of your system. Focus your priorities accordingly.