{"id":19638,"date":"2020-12-18T09:38:47","date_gmt":"2020-12-18T14:38:47","guid":{"rendered":"https:\/\/elynxx.com\/staging\/?p=19638"},"modified":"2025-04-10T15:03:19","modified_gmt":"2025-04-10T19:03:19","slug":"success-in-print-procurement","status":"publish","type":"post","link":"https:\/\/elynxx.com\/staging\/success-in-print-procurement\/","title":{"rendered":"For Success in Print Procurement, Focus on Leverage Points"},"content":{"rendered":"

[vc_row kd_background_image_position=”vc_row-bg-position-top”][vc_column][vc_column_text]<\/p>\n

When 1930s bank robber Willie Sutton was asked why he robbed banks, he supposedly answered, \u201cBecause that\u2019s where the money is.\u201d (He later denied making the statement that became known as Sutton\u2019s Law.)<\/span> Nonetheless, that\u2019s where you want to go in business, too, writes author and marketing expert Allan Dib: Focus your efforts where the money is\u2014or on the activities with the greatest impact on your bottom line or net profit.<\/span> Print procurement follows a similar concept.<\/p>\n\n

The activities that generate exponential improvement are your leverage points. In his book <\/span>The 1-Page Marketing Plan<\/span><\/i>, Dib cites the often-quoted 80\/20 rule that 20% of your efforts generate 80% of your results. So, you should focus on the 20%. But he takes it further, arguing for a 64\/4 rule, which comes from applying the 80\/20 rule to itself, taking 20% of the 20% and 80% of the 80%. By this, he means drilling down to the vital 4% of your activities that generate 64% of your results.<\/span><\/p>\n\n

Cutting out the marginal activities and focusing on the impactful 20% or, better yet, the 4%, will put you on the \u201cfastest track to success,\u201d Dib says, because these activities equate to more money for less work.<\/span><\/p>\n\n\n

Leverage points in your business might include:\u00a0<\/span><\/h2>\n\n\n
    \n
  • \n
      <\/p>\n
    • Money<\/strong>\u2014being able to borrow in order to invest<\/span><\/li>\n\n\n
    • Time<\/strong>\u2014being both efficient and effective<\/span><\/li>\n\n\n
    • Technology<\/strong>\u2014using it to make more sales faster<\/span><\/li>\n\n\n
    • Your systems<\/strong>\u2014giving your business the ability to scale up<\/span><\/li>\n\n\n
    • Marketing<\/strong>\u2014having a strategic plan to increase your sales<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n

      You might also succeed by embracing and leveraging change\u2014for instance, serving a new need created by the pandemic. But Dib contends that small and mid-sized businesses get the most success from leveraging marketing and technology. <\/span><\/p>\n\n

      For example, improving a few key marketing numbers\u2014leads, conversion rate and average transaction value\u2014just a little has a huge impact on your bottom line. And leveraging technology helps you improve your numbers.<\/span><\/p>\n\n\n

      Technology in print procurement<\/h2>\n\n

      If your business is print procurement, or if print procurement is a critical component of what you do, technology is likely a leverage point. Dib argues that technology\u2019s purpose is to eliminate friction, especially friction between you and your customers (technology should pave the way to sales). <\/span><\/p>\n\n

      Yet technology often ends up creating friction. Print procurement vendors and brokers often use traditional methods for managing projects that, in today\u2019s world, have become the most cumbersome systems conceivable.\u00a0<\/span><\/p>\n\n

      Dib recommends rethinking each piece of technology you use and ensuring that it meets a specific, measurable goal.\u00a0 If you\u2019re not using purpose-built print management software, you\u2019re ignoring a key leverage point or opportunity to go \u201cwhere the money is.\u201d<\/span><\/p>\n\n

      What are your business\u2019s key leverage points?<\/p>\n\n

       <\/p>\n

      [\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

      [vc_row kd_background_image_position=”vc_row-bg-position-top”][vc_column][vc_column_text] When 1930s bank robber Willie Sutton was asked why he robbed banks, he supposedly answered, \u201cBecause that\u2019s where […]<\/p>\n","protected":false},"author":4,"featured_media":19642,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,324,72,232,9],"tags":[69,327,73,217,328],"class_list":["post-19638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-print-management","category-print-procurement","category-print-production","category-technology","tag-print-management","tag-print-procurement","tag-print-procurement-software","tag-printing-industry","tag-technology"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t