Think Daily for Businesspeople Messages
One rule of economics says we should waste what is cheap to save what is valuable. In your operations, what is most valuable? Labor? These materials, or those materials? Missed opportunity (leads)? Missed phone calls?
Of course we don’t want to waste anything, but we don’t want to spend $8 to save $4 either. What does labor cost per minute? Should we straigthen bent nails? (no). Should we send one guy into the dumpster to study what we are throwing out, reclaim it, and take steps to eliminate it in the future? Should we invest in that expensive phone system to save even more expensive phone calls (leads, sales) over the next 7 years? Should we invest in training?
Can you look at what is most valuable and being wasted and find ways to improve?
Do you feel like your business is the same as it was last year?
“Building” a business means you are making progress in creating something better and/or bigger; different than it was last year or last month. Something that delivers more value to customers, or delivers that value to more customers.
What are you working on today, that will make tomorrow and the days after that better?
What are you “building?”
Being a business owner, or running a group of people who are trying to get a job done, can feel a lot like being “Mr. (or Ms.) Fix It”. Problems come to you. It’s your team delegating things up to you – the things that aren’t going well.
But if you get all the problems, maybe you haven’t trained your team well. Maybe you have not empowered them enough to think on their own, given the goals and values of the organization (surely they know them, right?). Maybe you have made them dependent on you as the one who will save them. Maybe you have made yourself the central communication switch for bad news. In doing so, your team doesn’t think about preventing problems so much, because they don’t have to deal with them anyway; you do.
Don’t be upset. You did this. The good news is, you can change it.
Most entrepreneurs are good at offense – Sales and Marketing. But to be successful you need a defense too – Accounting and Operations.
Charge your accounting manager with being your indespensible and active assistant in ensuring your company does not spend too much in its operations.
More eyes, more questions, more suggestions.