You want to increase profits—but how?
Let’s face it. Sometimes it seems like everyone around you is succeeding in the marketplace, and you’re left standing still. While that may or may not be the reality, there is a way to jumpstart your business. It involves connecting with other professionals in your industry, individuals who can share their expertise in a way that benefits your bottom line. PEGs, or profit enhancement groups, are the brainchild of the Management Growth Institute, Inc. (MGI), and they’ve been around since 1976. Here at Fireproof Records, we’ve been participating in the program for about four years. Last week, Fireproof CEO Mike James lent his expertise to yet another PEG.
PEGs provide essential information for business growth through participating in a directed process fueled by CEOs with similar businesses. Groups consist of 10 CEOs from non-competing businesses, and meetings take place throughout the year at members’ businesses. The primary objective of the PEG is to carefully critique a business, and then offer feedback and suggestions for improving current outcomes. The great thing about PEGs is that everyone comes out ahead. Business owners learn from the input of experts in their field, while participants can share their expertise and learn from the expertise of their colleagues. It’s about sharing honest, knowledgeable, industry-specific information and experience in a friendly, trustworthy environment. In the end, members glean new ideas to boost their businesses.
For more information about PEGs and the Management Growth Institute, Inc., visit www.managementgrowth.com, or go to www.peg4profits.com. It’s just one more way that Fireproof stays on the leading-edge of the records management industry.