The Aggregation of Marginal Gains

After the phenomenal olympic cycling results being put down to the 'aggregation of marginal gains' by Sir Chris Boardman, I wondered... have you considered this approach for improving your business yet?

We all have heard the phrase 'look after the pennies and the pounds will look after themselves', but surely after such massive returns by the cycling TEAM over the last 4 years, I think we all could learn something by this technique.

What 'marginal gain' ideas can you bring to forum members that will help 'Business Team GB' perform over the next 4 years?

Eric, this concept is actually fundamental to any business that wants to rise above its competiton. In some cases, it may even be the difference between a business surviving or failing in tough times.

Very few businesses are so revolutionary that they just generate money. In most cases, success it is much more about organisation and cost control than anything else. So, irrespective of your business type, I would suggest everyone should start by looking at whether they have the best deals for electricity, gas, water, phone, internet, stationery etc.Maybe more relevant is the way you use these resources - check to see if there is any way you could use less! These things really do add up.

As just one example:

At Home Farm Hotel, we had approximately 300 light bulbs (Oh, yes!). We costed how much we needed to replace them all with energy efficient bulbs. Because we had some unusual ones and a lot of expensive spotlights, it came out at over £1,000. However, it benefited us in 4 ways - Firstly, we recovered the capital cost within 6 months on lower electric bills. Secondly, we rarely had to buy replacement bulbs. Thirdly, we were not wasting half an hour every day replacing blown bulbs. Fourthly, we almost never had a guest complain of a light not working. So, a smart investment saved us time, saved us money and gave a better impression to guests.

Excellent idea Steve and great advice to boot! I wonder how many others out there have done similar investigations?

Maxim from my days with Sainsbury's and subsiduaries... Retail is Detail.