Theres been a lot of news coverage regarding the political parties getting ready and promoting their manifestos for the next election to encourage you to choose our next government.
Whichever party is your preference your destiny and your business success is completely in your own hands.
We have as accountants a short timeframe of seasonality before everything hots up again in April/May. We use this opportunity to look at our systems and see what we can do to improve our service to our clients and make efficiency savings, we have found it highly rewarding to see the changes over these last five years.
We also actively speak to our clients about changing their systems to make themselves more efficient to take their businesses to that next level of growth.
Ways that can be useful.
- Purchase higher specification software to make the service a lot more standardised.
- Look at the process itself and find ways of doing the same job for less time.
- Negotiating with suppliers for a greater discount, certainly if youre spending more on that product.
- Get to know the customer better so that you can tailor the service better
- Take out the human element, if a machine can do it cheaper use it, this will save a lot of cost on a volume product, and probably better too as you’ve taken away the potential for human error.
- Create a little production run, and run through it with your staff, can there be short cuts, or cut out duplication. Review it and make it smarter. Particularly good with the restaurant and pub industries as well as manufacturing.
- If youre wasting time doing the little things and not getting the bigger picture tasks dealt with, maybe you need a member of staff. Use someone cheaper than yourself so that you can concentrate on the improvement of your income.
- Outsource, if you either don’t have the time or the expertise, definitely look at this for marketing and finance particularly.
Larger companies have a lot of duplication in them, don’t let that be you, it’s the quickest way of increasing the costs. If get yourself in this routine whilst your small, youll never suffer from large company syndrome and make more money than your counterparts.
This blog is intended for information purposes only and is only advice from past experience, you may have other suggestions of your own. It is not intended to be used to make all of your business decisions but as a guide only.
