Over the past two decades, Ms. Biz Doc has helped business owners develop sustainable business solutions that improve productivity and allow you to run a profitable business without your business running you.
Experts warn against these eight profit killers:
Outdated organization chart — A good organizational chart clarifies ambiguity of the authority. It rids management of the common causes of dissension and jealousy.
Incomplete procedures manual — most problems, once “delegated” by top management, become routine when completely understood and properly controlled by subordinates.
Hidden costs — Substantial waste remains hidden in many businesses because of no accurate cost finding. Until management understands where costs are excessive and why, it has no means of controlling them.
Wasted efforts — in many manufacturing and service organizations, an inefficient floor layout leads to waste. From tool to manufactures’ offices to office workers, employees who have to reach further, walk further or lift more are wasting time, energy, and profitability.
Systems that don’t compute — many small and mid-size companies don’t take full advantage of technology. Computers that aren’t right for the job, software that doesn’t interface and systems that are slow, present another source of hidden waste.
History repeats itself — Companies often do not look critically at their own operations. Growing companies add personnel without need, moving productive to nonproductive positions. Instead of eliminating unnecessary routines by consolidating workloads and departments.
Missing incentives — when adequate planning and controls are in place, top executives and managers should have incentives in place. The opportunities for reducing waste are so great that an incentive plan should be on every top management agenda for increased profits.
“Not on my watch” — One of the greatest problems with reducing waste is managements’ attitude. Pointing out examples of inefficiency may have the same effect as challenging a business executive’s ability. An objective viewpoint is needed: business cannot afford a shortsighted, thin-skinned executive who avoids responsibility for making needed changes.
Need Help In:
Start up
Business Plans
Benefits – Retirment Solutions, Profit Sharing, Employee Incentive plans
Increase “net” profits
Employee Handbooks
Management Training
Mission Statements
Budgets
Cash flow
Exit Strategies
Time management
Employee Evaluation
Hiring
Leadership training
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