I
hope everyone is having a good start to their year.
I certainly am. Work is going well, I've been skiing a few times, my daughter is back in college, I feel pretty fit and healthy - you know, life is good. I just took some time in for some planning - long-term & short-term. I put together a comprehensive binder that I
use on a daily basis.
What
I learned in my fitness quest - the only way to
get maximum results is by setting action plans and targets, and writing down
results on a daily basis. I’ve logged
every workout since 1996. Not that I’m
in great shape, but if I hadn’t logged the workouts, I bet I’d be like a lot of
other people out there - fat and out of shape, but that’s another story.
I
break my big areas in my life into dreams; dreams into goals and goals into
tasks. I type it, and I look at it. Goal Setting 101. It’s a pain and requires discipline and habit
change, but it works.
Anyway,
with your business, it’s the same. Set
your operating plan with action plans and key targets, and measure your results
with your financial statements. It’s Business 101 and it works.
I’m
working with a client now – they did the first step very well. They have a strategy and have communicated it
with their team, but they aren't measuring results - because the accurate results are not available. Business 201. Accurate information must be instant.
We
quickly developed a simple one page dashboard and a process to reduce the financial close from 20 days to 5. The processes and controls implemented made the financials
completely accurate and regained the team’s confidence in the numbers. Get your financial close process smooth and
tight so you get accurate results - fast.
And
all your business processes need to be constantly reviewed and improved. Think like a franchise and develop the most efficient repeatable processes you can.
If you need any help,
let me know - I love helping business owners improve their businesses.
Think Profit,
/jon
