Pause to Retool Processes to Support Growth
Small businesses often launch with manual processes that the owner and the initial support team create. As the business grows, processes become more complex and more people are added to manage the business. Occasionally, these manual processes are augmented with standardized accounting packages and computer spreadsheets. This combination of manual processes cobbled together by spreadsheets is both the enabler for continuing existing operations and a constraint against achievi
Business Productivity Means High Performing Employees
Performance reviews provide a mechanism to evaluate employee accomplishments and behaviors during the year. This includes areas for improvement, promotion opportunities and supporting decisions for salary adjustments. In addition, the performance review process establishes objectives for the next year and a continuous program for reviewing progress and adjusting priorities. A continual focus on performance is crucial to building a productive and profitable business for the lo
Measure Your Customer Performance First
Congratulations! You launched your new business and customers are buying your product. Customers are the source of all the cash that flows into your business. Cash flow and profits allow you to plow back much needed investments that fuel growth. If you need to raise capital to boost your growth plans, a large list of happy customers is an extremely valuable asset. Place a high priority on servicing your existing customers to retain their support as you sell your product to co
Systems Support Startup Growth
Startup businesses advance by developing, enhancing and maintaining operational systems to support the execution of the activities of the business. This frees creative human minds to focus on far more valuable innovations and problem solving activities. Investing time and capital to develop automated systems and process and perhaps even outsourced functions to third parties creates a growth engine for the company. Systems allow the business to take on more work and process it
Process Improvements Boost Business Performance
Business leaders rely on a few essential financial measurements to gauge their business performance. These start with the ‘the bottom line’ or net profit, sales growth, expense trends and cash flow. A slightly deeper dive into sales management, production, customer service or supplier management processes and practices can reveal a lot about the operating performance of the business that helps to focus attention on needed improvements. To appreciate fully the effect of a sign