We all know that our businesses are suffering in this terrible virus pandemic. But it is not all doom and gloom, now is the perfect time to do all those things you never had time for when the business was humming
Here are some suggestions that small business owners like yourself can do now to make sure that when we get the green flag, we can get off to a flying start.
Because we now have a more efficient business that is primed and ready to go.
Catching up with all the documentation we never got round to before.
When we are running our business, we do not have time to do everything and we do not have the money to employ someone to do it.
Now we have the time, and the energy to get stuck in.
The first thing will be to gather up all the documents from the places they were put while we waited to find the time to work on them.
Next, sort them into the various categories.
Then take each document and work on it. You may find that you do not know how to do something so now you can learn how to do it.
You may have someone in to help with the filing or maybe not. Money again.
Whatever the situation, it probably true that the whole thing is a mess. I am a stickler for organization and many a clerk has felt my irritation at their sloppy work.
Now I have the time to go through the paperwork and organize it as I want.
Similarly, with your computer systems. The problem with computers is that items get added in incorrect places. I have done it myself when I was in a hurry.
I have spent hours this week trying to sort out the files on my laptop.
We all know that as a small business owner we should know where we are with our financial outlook.
Probably the best we know is how much money we have in the bank and cringe at the figure.
Now you have the time to go through your financial information.
Learn how to create a on-line business click here
Sales and Turnover
We need to give our business a health check to see how the business is working, where the problems are and find solutions.
Some areas to check are:
- by week, month, year,
- compare with last year,
- Identify why there are differences.
- cost of finding new customers
- customer retention,
Cost of stock,
- amount of stock in the warehouse,
- stock turnover,
- sticking stock etc.,
By doing this you will know more about your business than you ever have.
We need people to run our business. But we need the right staff when doing this exercise ignore all your current staff and what they would do. You are starting from scratch so what was the situation does not have any reference
- How does the workflow through the business? Ignore how it works or not now?
- use flow diagrams to show what should happen.
- Then estimate how many staff you need in each area to do the tasks you have identified.
- take into consideration cover for holidays sickness etc.
Now you know how many people you need and can compare that to the current level of staffing. decide what action you need to take and do it.
By now you know more about your business than you ever had.
You now know how much stock you should be holding and how much space you need. Do you have too much? are you wasting money on renting space you do not need? can you dispose of it at little or no coast? Then do it.
Similarly, with your office space. You may have too much offices space; again, can you reduce the amount you are paying for?
Probably your largest bill is for electricity.
Find ways of reducing your consumption, by taking the action above you have probably found ways to reduce your current consumption.
look into changing the bulbs for modern efficient ones, the cost will be recouped quickly.
Look at the insulation of the building, could it be updated? to s save you more energy and money.
Your actions to take now.
We have identified several ways to get your business running more efficiently.
- Documentation – get it sorted and up to date.
- Filing- create an efficient filing system
- Finance – get them sorted and on a stable basis.
- Stock – are you overstocked? find ways of getting rid of them. make your new system more flexible.
- Staff – do an analysis of the processes and procedures. estimate how many staff you need. make the necessary changes.
- Premises – are you renting more space than you need? can you use it more efficiently? act now.
- Utilities – are you being extravagant? change your light bulbs, check insulation. Produce new rules to staff to use and cut down on waste.
Any comments or suggestion please contact me.
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