Latest Articles
- How to Get the Most Out of a Business Health Review with Your Accountant
While working with my clients and as Program Manager of the Entrepreneurial Assistance Program I have a common theme presents itself. How do I figure out how my business is doing? As a business owner I need to know the answer to this myself. So when I meet with my accountant, I want to give him the most up to date and accurate information. Thus providing the data he needs to help me make sound financial decisions. Your accountant can do this for you but they will need “information”.
- Planning For Success
So why is planning important? Without it you will waist a considerable amount of money, time, and resources. You can’t get where you want to go if you don’t know where you want to end up. Working with clients I usually find businesses that have grown ad hoc and call me when their inefficient back office operations are hampering growth. By developing a business plan you can prepare for growth and potential risk or problems. Therefore you are responding to your environment not reacting. Also, having a solid plan gives you a tool for making decisions.
- 10 Key Factors in Choosing Customer Relationship Management Software (CRM)
One of my favorite topics we teach in class is how to compile information that can be used to make smart business decisions. What usually comes up during class is many start-ups and existing companies know they need a tool to help them with collecting and using information but do not know where to start. This article’s focus is the ten key factors to help you choose the right Customer Relationship Management (CRM) software for your company.
- 10 Tips for Creating a Data Goldmine
I have been working with many clients who have their information in a database but are unable to get the information they want or know where to find it. Usually the culprit is a series of issues that come together to create the perfect storm of inefficiency. The tips below will help you to prevent this storm and maximize the information in your database to increase productivity and profits.
- How to Make More Money in 2012 with Data Driven Decisions
I have mentioned in many of my articles about metrics. Things we use to measure success and how far you are from reaching your goals. Data is much more than that – it is a valuable tool to make solid business decisions. It also helps you to save as well as make money. Below are some of the metrics you can use to help grow your bottom line in 2012.
Capacity Building in an Unfriendly Economic Environment
I have worked with nonprofits in the past and the new economic environment is extremely challenging for them. One of the ways I am looking to help nonprofits is through capacity building. Right now I am working with a producer Paul Ellis who is also a proficient grant writer. We were discussing the other day how funding cuts and downsizing is hurting the nonprofits across the board.
When I watch all the services and programs that are no longer available it becomes even more clear how much we need these nonprofits to pick up the slack. Who knows, one day it could be someone we know or ourselves who may need temporary or long term help from one of these organizations.
With this in mind I have written an article on capacity building in an unfriendly economic environment. I have other articles that are available through ezine or our Blog archives.
With the New Year here and many mature businesses not, we must reflect on what has to be done to operate effectively with out current resources all while taking advantage of the opportunities left behind from closed competitors. The silver lining is the opportunity to build capacity and increase market share. For non-profits this means providing more services for the community with the current resources.
Operating a Lean Enterprise means that you have a competitive edge, maximize your resources and reduce your overall costs. Why having a lean organization is significant is that 60 to 80% of costs associated with bringing a product or service to market is administrative. If you can reduce the waste this makes a big impact on your bottom line. This is common knowledge in the private sector but what is capacity building for the nonprofit sector?
This has become a very important topic for non-profits all over the country. As budgets shrink and donations decrease our non-profits are expected to do more with less. The disconcerting part is no one is telling them how. All processes and systems need to support the mission and strategic plan. For an organization to thrive everything including office work needs to be in alignment. In the nonprofit arena some of the areas that would contribute to capacity building are: communication, computer systems, technology issues, management systems, process improvements and changes. Implementing Lean Office allows a nonprofit to serve their community and do it well.
If you are an organization that has inefficient, outdated procedures this consumes time, resources, staff and equipment. As part of reexamining your operations, looking for opportunities to streamline is essential. What are some of the types of things you should be looking for? Low hanging fruit such as excessive mistakes, rework, motion and waiting. Ask the managers what the goal of their department is. Why do they feel it is not being met? Then go ask the people doing the job day in and day out. You will get a picture of where your waste is hiding.
With manufacturing it is obvious when there is waste. In an office you have to review your procedures, technology and policies. In an organization that has to adhere to inefficient regulations the challenge becomes how to be productive in spite of the regulations. What can you improve that you have control over? Do a waste audit in your organization. For a list and description of the different wastes visit Wikipedia and do a search for “Lean Services, The Service Wastes”. You will be amazed where waste is hiding in your office.
This is a new world economy. Those organizations that can do more with less and effectively utilize their staff, tools and resources will come out soaring. Being a Lean Enterprise is no longer an option but a necessity. Take a look at how your organizations can be an industry leader.