Agility Can Actually Boost Your Bottom Line: Truth!
Updated: Oct 14, 2022
Net profit, also known as your bottom line, is the money your business makes after deducting all of its expenses. It’s also known as profit after income tax and is the quickest measure of your company's health.
First things first though, the profits your business makes, are not the same as your business profitability.
Profits are earned when the value of a business's output exceeds the cost of its input. It is a number signifying the money your business made (revenue minus expenses) over a given period of time, e.g., previous month, last quarter, year to date, etc.
Profitability, on the other hand, refers to your business's ability to make a profit on a given investment. A profitable business generates consistent earnings over time, and you can forecast whether it will continue to make the same (or more) in the future.
Sure, there’s financial accounting to determine the profitability of your business, and its projects to drive strategic business decisions. However, we’re not cracking into digits or calculations – we’re certain, you already have capable accounting people taking care of those numbers. Instead, let’s look at some of the fundamental shifts in business operations which can enable you to do more; to identify the right customers, work with a dream team and invest in the right places.
Agility = Stability = Profitability
The businesses that survived the pandemic, were quick to reorganize their operations in order to capitalize on value-creating and value-protecting opportunities. They were driven to transform themselves overnight, from cost-cutting and restructuring to moving employees to remote work.
Agile businesses can efficiently and effortlessly lead their employees and priorities toward opportunities to create value. According to McKinsey, the agile model demands implementation choices across the following business operations:
Agility not only combines speed and stability; it also aids role clarity, creativity, and operational discipline. A general misconception is that in order to achieve speed and flexibility, stability and size must be sacrificed. True agile businesses mix the two: a strong foundation offers the stability required to establish and scale dynamic capabilities.
This foundation connects structural stability (standard operating procedures) to cultural stability (shared purpose, direction, & values); it also enables dynamic capabilities (such as fluid changes in strategy and team setup) in order to adjust swiftly to changing conditions.
Agile operations in a business, broadly impact customer satisfaction, employee engagement, operational performance, and financial performance.
As the pressure rises to seek innovative methods to stay competitive in today's fast changing markets, agility is becoming more than desirable; it has become critical.
Remote Marketing = Ultimate Profitability
While many have been focused on returning to "normal," the crisis helped us forge a better future of work – being nimble and innovative to meet the market where it’s at. Understanding the benefits of remote work and digital media, especially in marketing, we’ve assembled a team who can keep up with and adapt to new trends & technology in a rapidly evolving industry.
Apart from evaluating a business’s bottom line for profitability, there’s also the need to analyze its influence on the society and the environment. The triple bottom line focuses on profit, people, and the planet. According to this theory qualitative variables like, how businesses protect & sustain the environment and contribute to society, should be considered when evaluating success of a business.
Today, more and more businesses are prioritizing digital media in their strategies to drive revenue growth. They’re looking to flex and scale, even better if they can do it with greater flexibility, higher efficiency and more savings by working with remote teams.
With a “productivity anywhere” mindset, we offer you long-term strategic benefits of:
As your remote marketing team, we maximize collaboration, competence and communication to help you transform in the digital space. Our shared vision of unlocking profitability for growing brands, is enabled by technology and fueled by our network of dynamic yet committed teams, who put forward their best work while being able to work remotely.