The Biz of Pacelinebiz

Turning things on end to achieve results!

Cleaning House

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1 completed task is better than the best intention

1 completed task is better than the best intention

It is a New Year and what better time than now to “clean house” in your business.  On a personal basis, many people make New Year’s resolutions so why not do one for your business?  Unlike personal resolutions to lose weight or start an exercise program let’s set a resolution to do one thing better in 2014.

My call to action for you today is for you to respond with a comment on this blog by stating what you decided as your house cleaning project.  I suggest you identify three things that you need to improve upon and then choose the easiest of the three to accomplish.  That might seem like an easy bar to clear but I am a firm believer that the smallest accomplishment is better than the best intention.

In case you are stuck for ideas let me list some that might apply to a wide variety of small business owners.

  • Pick the process the your company spends the most time doing and ask people involved with it how it can be streamlined without sacrificing safety, quality or other existing safeguards.  This might be a manufacturing process or an office task such as processing receivables or payables.
  • Increase utilization of all company owned assets.  If there is unused or obsolete equipment or inventory on the books it is costing you space and in states with personal property taxes it can be costing you additional taxes.   Dispose of this and better organize your warehouse or production area.  In some cases you may save on insurance if the assets you dispose of had significant value.  Proceeds from disposal will aid cash flow.  This also goes for building or office space – consider leasing them or sub-leasing if you are renting.
  • Consider going paperless or at least make an effort.  The technology is making it easier to do than ever and you save on toner costs, paper costs and also save space for storage. Information retrieval will save time which of course is money.  If you begin invoicing customers electronically it will save envelope stuffing time, postage, stationary costs and customers will receive their invoices quicker which can get you in the payment queue faster.
  • Assess your credit granting practices.  Yes, this is a difficult task with your customers but it will improve cash flow, lower interest expense and reduce bad debts.  Be the squeaky wheel that gets paid first.
  • Improve the customer experience to keep them coming back and asking for more.  It is far cheaper to keep an existing customer than acquiring a new one.  In conjunction with this when hiring new employees stress customer service so eventually the company culture will be customer service oriented.

Perhaps one of these items will be a good way for you to clean house.  I look forward to hearing about your house cleaning ideas.  Have a great week sweeping out the old bad ways and starting a new better way of doing things.  I call it; Turning Things On End To Achieve Results!

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Written by pacelinebiz

January 27, 2014 at 8:01 am

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