Would you like to make more profit? Many business owners I meet when I ask this question go straight to focusing on more sales or more customers. This costs both time and money when in fact there is a much simpler place to start. How can make more profit without having to generate any more sales?
So, the best way to understand this is I want you to think of your business as a bucket. And guess what's in most businesses' bucket? Holes. Lots of holes in your businesses bucket. And what's happening is that there's leaks. And often because of these leaks, you're running around, fighting the fires, trying to plug these holes, and plugging these leaks. And so what happens if I pour more sales into this bucket? It actually gets even more holes and more leaks.
And so the first step in creating more profit or cash is to plug the holes in your bucket. Every six months, small-business owners should do a review of their business plan, looking in every nook and cranny for hidden savings, and start thinking about where are the holes in your bucket. Don’t do anything in a hasty manner. You want to be pro-active not reactive. Every day you work at improving the things that are working. Now you need to work at improving upon the things that aren't working.
So, one of the first places to start is where are my business inefficiencies? Where are the bottlenecks? Where are you reworking? Where are the productivity gaps? Where are the things where there's actually ineffectiveness in the business which is actually costing you money? Keep a list. Not just in your head (because we know how many holes that has) but write it down so you can easily refer to it and check off the items as the holes get plugged. You'll have a sense of accomplishment and a better run business.
Here at Specialist PMC our highly trained staff are available to help you automate many of your daily tasks and reduce work that is being duplicated by other departments, that are costing valuable time and therefore reducing profit. Tell us what areas you have found holes and let us plug those holes for you. We won’t just tape them up. We will find the answers to eliminating them for good. Every business day ask: Where are the holes that need to be plugged? Then just call Specialist PMC & let us take care of them for you. 1300 664 665