Continuing with our topic for the month, I will delve deeper into the foundational areas of business optimisation.

What systems do you have in place to automate aspects of your operations? How do we do the most with the time and resources at our disposal? How do we ensure we don’t spend precious time and resources on the mundane tasks that don’t necessarily bring in more money?

The thing is, we rarely pay attention to the foundational stuff in our business as it doesn’t necessarily bring in more business or money, and we seldom measure the impact of the lack of foundational structure in and on our business.

The lack of optimal foundational structure in our business will show up in many different ways which may include client complaints, under-delivering on client promises, a dwindling client base, paying penalties, unnecessary costs and taxes to name but a few.

When I work with businesses, I focus much attention on the foundation of the business so as to ensure that the base the business is build on is strong enough to carry the load. A strong and competent foundation for our business can be seen as the comparison between a stone castle and a sand castle.

 

In the previous article I touched on the 8 key areas of business optimisation.

Now let’s look at the foundational areas of business optimisation:

  1. The Engine Room – the nuts and bolts of the operation

This has to do with the back-end operations, the hidden stuff we don’t pay too much attention to. It is here that we look at automation and customer relationship management systems.

With the right automation and systems in place we can ensure client communication, employee service delivery and turnaround times are measured and optimised.

  1. Guarding the Gold – all the money stuff

This is where we focus on budgets, cashflow and tax.

Let’s remove the dread and uncertainty that so often accompanies the figures in business. Having the figures at your fingertips at any given moment supports informed operational decisions. More importantly the figures should be in a format that is easy to read and understand, it should give you a clear picture of the current financial situation as well as paint the picture of what finances are required for operations and how we will achieve our financial goals.

Cashflow and budgets should form part of our road map in business, not give us sleepless nights.

  1. The stuff that gets you in trouble – because I said so

This is all about the rules, regulations and compliance thrown at us by various regulatory bodies.

The business environment is challenging enough without throwing in all the rules, regulations and compliance we need to adhere to. Often, we only know we are non-compliant when we get into trouble and it cost us a lot of money to rectify the situation. Although some of the rules, regulations and compliance my apply to all businesses across the board, there are many that are industry specific.

Navigating this section in your business may be a challenge but with the right assistance can be brought up to standard and kept that way.

  1. Get more bang for your buck – do more with what you have

Many of us are currently faced with getting more done with less. Stretching your budget will yield certain result, but what other options are available?

First, we should determine what resources we have available. These could include time, people, equipment, space, expertise. Could upskilling our people result in an increase on the bottom line? Could repurposing equipment and or space increase optimisation? Could we innovate our time and expertise into another spinoff offer?

 

It is clear a strong business foundation is built on certainty and control, and there are no short cuts.

Published On: November 9th, 2020 / Categories: Mentoring / Tags: /

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