Find Your Direction And Keep It Simple

Find Your Direction

Where do you want to get to?

How are you going to get there?

Are the figures telling you that you are on the right track?

Keep It Simple

  1. Keep your paperwork organised. It will save you valuable time if you do. Time you can spend doing more important and fun things like making your products, selling to customers and finding new ones
  2. Keep your bookkeeping up to date. It will save you money if you do. Money that can be re-invested in your business to make it even better and/or that can be used to reward yourself, your family and your workforce for allthe hard work you have all been doing
  3. Prepare regular management accounts to help you keep a close eye on how things are going. Nothing fancy, just the basics. It will also save you money and let you spot potential problems early so you have to do something about them before they become really serious. Compare this month to last month, last year, your budget or your business plan. Are things on course or do you need to make some changes to get back on track?

Good luck with your business.

Thanks for reading!

Gordon

Follow The Rule Of 5 And Help Make Your Business Better

The Rule Of 5

Rule 1 - Save Time, Save Money

Before you make any changes, stop, think, will it save time, save money, improve customer service?

Time is your most precious resource. Use it wisely.

Rule 2 - Customers, Employees, Financials

Always think customers, employees, financials.

In that order.

Rule 3 - Paperwork = Money

Think of your paperwork as pound notes; real money.

If you do that, you will do things better.

Rule 4 - The Financial Drivers, The 5 Numbers You Should Know Every Month

Sales, Profits, Cash, Debtors, Stock.

Learn them, remember them, use them.

Rule 5 - Keep Your Eyes On The Dash And The Road Ahead

What is happening now.

And what is likely to happen in the future that could affect your business, examples; changes to regulations, increases in tax rates, a new competitor opening across the street.

Stop. Think. Be Prepared.

Good luck with your business.

Thanks for reading!

Gordon

Repeat The Make Your Business Better Mantra And Feel Happy

improve

The Make Your Business Better Mantra

  • Monitor
  • Measure
  • Compare
  • Manage
  • Improve

If you don't monitor and measure, you can't manage, so you won't improve.

Improve

Customers – monitor feedback; good and bad, think of ways to get useful, quick feedback from every sale. Measure the number of new customers, number of repeat orders, number of complaints, number of compliments and compare to previous weeks, months, years. What is the trend? Is it positive or less so? What do you need to do to improve?

Employees – monitor morale; find out how they really feel and what your customers are saying to them, think of ways to involve them more so they feel valued, ask them for suggestions to improve current procedures. They are the eyes and ears of your business, use them well. Measure staff turnover and compare to previous periods.

Financials – measure sales, profits, cash, debtors, stock every month and compare to previous periods and your budget plan.

Go on, think about it while you are cleaning your teeth or on the morning commute.

* What would you like to do to improve and make your business better?
* What particular problems are you having?
* What do you need to monitor and measure to achieve the improvement you want?

Make A List

Make a list of 3 things you would like to do to improve things, and don’t surprised if you end up with a list of 10 things or more. It’s all good, Rome wasn’t built in a day. Prioritise the most important things and go from there.

Good luck with your business. Be happy 🙂

Thanks for reading!

Gordon