Summary of Your Business Is a Leaky Bucket

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Your Business Is a Leaky Bucket book summary
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Rating

8 Overall

9 Applicability

7 Innovation

8 Style


Recommendation

Is your company a “leaky bucket”? Various problems, big and small, can cause leaks in your company’s profits. Consultant and coach Howard M. Shore details how and why these issues arise and efficiently explains how to plug the 15 most frequent leaks that relate to “people, strategy” and “execution.” His insightful advice addresses business realities in a practical, conversational tone. getAbstract recommends Shore’s useful manual as a helpful checklist for business leaders.   

In this summary, you will learn

  • How to identify the main causes of business “leaks,”
  • How these leaks drain profits and
  • How to plug the 15 most common leaks. 
 

About the Author

Business and executive coach Howard M. Shore founded the Activate Group after 20 years of holding leadership positions in the private industry.

 

Summary

Businesses Are “Leaky Buckets”

Success in business depends on “people, strategy” and “execution.” Your organization needs a comprehensive strategy that addresses important external issues like expansion as well as internal issues like transforming revenues into profits. Set priorities for your firm to achieve; when you hit those targets, you’ll know you’re executing well.

Most businesses can be more profitable than they are – or can make a profit, if they are falling short. However, you won’t find personnel, strategic or execution leaks by reviewing your financial statements. Look elsewhere, like at operations.

“Keep expanding your company – making your profit-earning bucket bigger – while doing the harder job of finding and fixing those pesky leaks.” The typical causes of profit-draining leaks include: a poor or nonexistent strategy, inferior and nonperforming employees such as salespeople who can’t close deals, lack of accountability, ineffective communications, empty pivotal positions, unclear priorities, competing customer factions, blurry product differentiation, flawed processes, rapid turnover, discouraged workers and poor leadership...


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