Featured image of post Secrets of Successful Business Selection and Systematization: Practical Memos for Executives
IT/Technology

Secrets of Successful Business Selection and Systematization: Practical Memos for Executives

We share practical memos that executives should know, such as how to find trending businesses, thorough imitation and improvement, and points of systematization anyone can do. It also delves into the essence of the management philosophy of 'maximizing corporate profits'.

Finding emerging businesses

  • Ask people inside Hot Pepper or tax accountants about businesses that are starting to trend
  • Do not enter a business that is already saturated with strong competitors
  • Only enter businesses where you are confident you can attract customers (do not enter businesses where existing operators are using special, inimitable customer acquisition methods)

Imitate thoroughly

  • Research the business logic before entering
  • Copy it thoroughly
  • Then improve upon it

Systematize

  • Systematize everything into manuals so anyone can do it effortlessly
  • Come up with ideas to increase sales (more customers, higher unit price per customer) and reduce expenses (labor costs, advertising costs), and systematize them

Management Philosophy

  • A business owner’s philosophy is “to maximize corporate profits,” nothing more and nothing less
  • Making social contribution or being liked by employees your management philosophy is a bad idea (consider that these will naturally follow later)