Latest Articles
- 10 Tips for Creating a Data Goldmine
I have been working with many clients who have their information in a database but are unable to get the information they want or know where to find it. Usually the culprit is a series of issues that come together to create the perfect storm of inefficiency. The tips below will help you to prevent this storm and maximize the information in your database to increase productivity and profits.
- How to Make More Money in 2012 with Data Driven Decisions
I have mentioned in many of my articles about metrics. Things we use to measure success and how far you are from reaching your goals. Data is much more than that – it is a valuable tool to make solid business decisions. It also helps you to save as well as make money. Below are some of the metrics you can use to help grow your bottom line in 2012.
- Why Effective Reporting Makes You Money
Many organizations today rely heavily on their technology to get things done. This is something that will become increasingly important as we move into the future. Those who have learned to leverage the information they have can effectively market, close sales, produce their products or services quicker and save money on maintaining those customers. One way to achieve this is through effective reporting.
- Top 10 Reasons Why You Need a Bookkeeping System
As technology progresses it is becoming increasingly important for companies and non-profits to track their information. In a previous article I discussed how to maximize your customer relationship management software. This month I am going to talk about your bookkeeping system. These two areas tend to be neglected by a new business or existing businesses using an effective system that is too difficult to maintain. Either scenario will cost you money, time and sales. Below are the top 10 reasons why you should use a bookkeeping system.
- 7 Ways to Keep Your Database from Becoming a Digital Clothes Hanger
As part of the new reality, organizations are doing more with less. This translates into reduced staff, resources and in some cases office space. This has created the necessity to examine how organizations can use technology to be more efficient. One way is to purchase Customer Relationship Management (CRM) Software. Doing a thorough research process and testing prior to buying your system. Once purchased, I encourage you to take the necessary steps to avoid it becoming a digital clothes hanger – aka an unused treadmill. Here are some tips on how to avoid this dilemma for yourself.
Organizing for Growth
Being a participant in the Orange County Chamber of Commerce Business Idol competition for the last two years it is quite apparent that many businesses do not have a plan for growth. Make sure you plan for growth.
In an earlier article I discussed delegation. This is a key component to growth. Working with a team of professionals to help you get where you want to go is important. I have a team that helps my business reach its goals. Without this team I would not have the ability to grow. These people are Criss Ittermann of Eclectic Tech, Melanie Richards of Prisms Promotions, Debra Pearlman of DP Sales Pro, Paul Rafanello, CPA and Rich Rossi of Multi Media Service Center. They have become an integral part of what I do to grow my business. When I get to the point where I will need to outsource my administrative functions I will be working with Jeff Mehl of Daybreak Office Solutions.
1. Have long-term and short-term goals. What help will you need to make those goals happen? When do you need the help? How will you be able to pay for those services? State benchmarks for when utilizing certain services.
2. Examine your workflow:
a. Create Columns and in each column heading write your roles/hats
b. Under each role/hat list the responsibilities/tasks for that hat
c. Which column is taking up the bulk of your time?
d. Which column is taking up the least of your time?
e. Which column if you could outsource would be the easiest and most cost effective ones to off load?
f. Which column if you had more time for would contribute to continued growth of your business?
Usually it is the administrative and bookkeeping that is the easiest to delegate.
3. Work with an accountant to determine your current cash flow, true operating budget and at what point you have sufficient financial resources to delegate work to other people. This can be employees or services. Look at your options and determine what would work best for your company.
4. Lastly, ask for help. We are all really good at what we do but not necessarily experts in all areas of business. Recognize your strength and challenges. Talk with other business owners who have experienced the same challenges and have overcome them. Why reinvent the wheel! Your greatest resource is other business owner. You would be surprised how many people are happy to give you ideas and support.
As a business owner you must be the CEO of your business. You need to work on you business not just in it. You are the face of your business. Be the idea and growth person. Hire the implementers.