In part I of this series on goal setting we talked about the history and research which supports most of today's goal setting theory. We focused on five areas which can affect an organization's ability to achieve the goals they set.
In this four-part series, I want to share four areas where your business may be leaking valuable dollars. I'll call them profit leaks. Many business owners operate with a "leaky bucket" and don't even know it.
I wanted to share a case study with you about a company we’ve been working with who was struggling with some internal issues that resulted in poor financial performance. We were called in to help solve these issues and improve the bottom line. The result, a 135% increase in profit.
There seems to be a great deal of confusion for business owners around KPIs (key performance indicators). We know we need them, but measuring them seems so elusive and tedious that small business owners just don’t measure them with any sort of consistency.
This blog post is for those dedicated businesses that are actually tracking KPIs (key performance indicators). When I say “tracking” I mean that you have a set of meaningful measurements that you are reviewing with your team on at least a monthly basis. If you’re not doing that, I would encourage you to do so ASAP. If you need help determining which KPIs to track, please contact us and we can help.
It’s time for that employee review and you’re dreading it. You feel completely unprepared. You don’t feel good about the employee’s performance, but you don’t have any real data to back that feeling up.
You hired a new employee and think they are great. Your entire has staff interviewed them. The new employee fits the culture of your company and is off to a good start.
Maybe you’re not thinking of selling your business any time soon, but chances are you may want to some day and when that day comes I’m sure you will want to maximize the sales price.
I just finished reading Patrick Lencioni’s book, “3 Signs of a Miserable Job”. Originally published over nine years ago, Lencioni was almost prophetic in calling out the importance of making sure employees are happy at work.