SME Assistance

10 Tips to make running your business easier and more profitable

In my travels around businesses in Dorset I sometimes find there are small changes business owners can make that can make a big improvement in the way their business runs and the profits they make. I thought I’d share a small section of them with you . . . . .  

  1. Know where you are going
    Do you get in your car with out thinking how you are going to get to your destination? What’s your destination, how are you going to get there and when?
  2. Invest your time wisely
    If you need more money you can borrow some but you can’t borrow more time, there is a finite amount every day. Is that meeting, that job going to move your business forward?
  3. Know your Numbers
    As you sit there reading this do you know how much your business is owed? How much it owes? How much you banked this week? Are these numbers going up or down? Knowing your numbers is the blood of the business – is your business loosing blood?
  4. Systemise the routine – humanise the exceptions
    Systems should run your business so that you don’t have to. Leverage your time by systemising / documenting the routine tasks in your business the best ways to do them. What can you systemise in your business now to save you time in the future?
  5. Take the pulse of your business with KPIs
    How many enquiries a week? How many sales or quotes a week? Just by measuring these tell-tale signs in your business they will improve. How fast is your business pumping?
  6. Make a plan to grow your business 
    A business that isn’t planning to grow will slip back because your competitors are planning to grow – how are they going to do that? By taking your market share! Make your business pump faster. How much market share can you afford to lose?
  7. Eat that Frog
    Unpleasant/difficult task can over shadow the day and often don’t get done and then get shovelled into the next day. Just do them first or better still as they arise. What did you put off ‘till today?
  8. Listen
    Listen to your customers, listen to your suppliers, listen to your competitors. Knowing what the trends are in your sector will save time and money and keep you ahead of the game.  What are they saying, what are they thinking, what can you do about it?
  9. Look after your team
    Engaged and committed staff will look after your customers, who in turn will look after your business with more orders and referrals and then the business will look after you with more profits! Will your team go that extra mile for a customer?
  10. Make time to work ON your business.
    This is taking actions on your business that will have a long term benefit. What are you going to do in your business today that you will thank yourself for in the future?

Bonus 11th Tip!!!
If you don’t know the answers to any of the questions posed above or your answers need improving – get in touch with me – I can help you find the answers