2014 - 10 Key points to check if you have a Smart Business

Jan 16, 2014
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be Prepared for Growth!

2014 is going to be full of opportunity are you ready for it? Don't just know the cost and value of what enters and leaves your premises, but how value is added – or lost – in between. This adds to your profit and your book value. Resource-efficient businesses know this means measuring not only supplies and sales, but waste as well.

10 Key Points

  • Make sure you have a plan that projects your cash flow for the upcoming year.
  • You can’t manage what you don’t measure.  Know what you are paying supplies and wastes as a
    percentage of sales.
  • Benchmark your business performance – setup continual improvement.
  • Measure costs in terms of a value that includes fixed costs.
  • The most profitable 20% of customers account for 300% of the Net Profit of most businesses.
    Measure the profitability of individual customers and develop a portfolio management strategy
    to enhance overall profitability.
  • Analyse Inventory demand and trends so you can reduce inventory investment & make better
    purchasing decision.
  • If you have less than 50 staff and privately owned you may be eligible for a
    Capability Development Vouchers.
  • Recognise the relationship between problems and solve the problem not the symptom.
  • Create and regularly use a to-do list.

“An estimated 67 percent of the wealthy put their goals into writing, while only 17 percent of the poor make this a habit. Approximately 81 percent of the wealthy he researched maintain a daily to-do list, while less than 1 percent of the poor create such lists.” - See more at:http://www.success.com/article/a-peek-at-to-do-lists-of-the-wealthy#sthash.cjpEwXSR.dpuf

  • Take the quite time at the beginning of the year to re-organise and rejuvenate your prospect list.

"Pull together all the contact data and history. Research your key prospects so you can better connect your product or service with their plans, needs and objectives in the coming year."