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.
This Economy is an Opportunity to Supercharge Your Productivity
The Secret states that what you focus on you will receive more of. Right now you could cut the negativity with a knife. I am so inspired when I hear fellow business owners say they are choosing not to participate in this recession. There are many opportunities right now if you are open to seeing them. With various competitors going out of business these customers are shopping around for their products and services. How many sales calls do you make and they say I am already using someone. Maybe not anymore.
Take this time to pump up your productivity. Many of us have heard of project management but think of it as a manufacturing or construction discipline. Lets look at some of the components in terms of an office environment. You can increase your profits and reduce your costs just by being organized. This is done through increased productivity within the same time span.
Look at how you and your employees are processing the workflow. You can map out your workflow using what is called a Work Breakdown Structure. Below is a great example of this from the book “Fundamentals of Project Management” by James P Lewis.
What is fantastic about this diagram is it is a visual representation of what needs to happen and an estimated time it should take. This give you the ability to see everything laid out in one place. So what types of questions should you be asking once you create this for your workflow?
1. Is the actual time I am estimating correct? If not, why and what do I need to change? Is it an accurate estimate?
2. Who is performing what functions in the workflow?
3. Should something be delegated to someone else? If yes, then who is the best person for the job?
4. If you change the order of the steps will this increase your efficiency?
5. Are there any steps you can eliminate? Is there any way to reduce the number of steps?
6. What priority does work need to be done in?
Answer these questions and you will have the ground work for an assessment of how you are doing things. This is a great place to start to make adjustments that will help you be competitive. If you can operate efficiently you reduce cost and stay ahead of your competition. Those who do not are increasing their cost with waste. Does not leave much wiggle room does it?
I would love to hear about your project management experiences.
Comments:
"Take this time to pump up your productivity. " Love that statement. Count me in.
I appreciate the help you gave me a month ago setting up a CRM. It works great and I am much more productive.
Jim
Good post, Cindy!
Dealing with all these factors is a juggling act. I'm lucky enough to have started out from day 1 on looking at the big picture when pricing services, estimating my sales quotas, etc. Over time I've had to reevaluate time & time again how much time projects take, their price level based on the amount of time & level of service AND perceived benefits involved -- then adjust sales quotas accordingly. Occasionally I've had to assess the other way around. I thought at first I might make 5 sales a week -- that was a mistake, and caused me to reevaluate my numbers from my goal all the way to pricing individual offerings. Now I'm focused on 1-2 sales per week depending on the specific products being purchased. I do the same thing every time I consider adding a new service or a new line of services to my business.
Now, I'm hitting my sales quotas for the last 3 weeks -- these are sales quotas that were set when adjusting my prices at the beginning of the year. This weekend I started to work on the next step in the plan: I'm actually documenting a variety of tasks that I do, step-by-step, so that I can delegate when it comes time to do so. I've already formed best practices, efficient workflows, what goes first, second, third -- so it's time to document it so I can continue to grow and easily integrate new people when the time comes to do so.
So, now I have to get back to work! Have a great weekend!!! : )
Criss