The 7 Critical Things that Successful Business Managers Know

1. What are their most profitable products,
2. Who are their most profitable customers and
3. What are their expense drivers.
4. How to keep control over their Cash Flow.
5. What Critical Success Factors apply to their business.
6. How to identify, measure and monitor Key Performance Indicators that are directly related to those Critical Success factors.
7. How to use an Operating Plan as a Management Tool.

The key to competitive advantage is therefore to create a business model that provides products/services at a price that creates value for both the business and its customers. To do that the business needs a similar value alliance with its team members for the dimensions of value they seek. It is a business model that other businesses in the industry (or outside the industry) do not or cannot replicate.