Things To Do To Improve Your Business In 2009
1. Plan for the Future. Write down your goals and visualize the future, your personal and business success. Read “The Attractor Factor” by Joe Vitale. Require your employees to develop professional growth plans.
2. Time Management. People are your inventory. Have your employees enter time every day. Make sure they understand what they are supposed to be doing and how long it should take. Have a rigorous approval process.
3. Invest in Your Business. Fear of a bad economy holds people back from achieving their goals. Fear stands for False Events Appearing to be Real. If you believe you will be in business in the future, then you must invest in the future (marketing). Use profits from the last few years to fund the growth during these competitive times.
4. Hold People Accountable. Make sure everyone in your company has goals and is measured and rewarded for achieving these goals. Good systems need to be in place and project managers may require training.
5. Get a Coach. All successful people have coaches and mentors. Athletes have coaches to make sure they are constantly improving and have the right mental attitude. Coaches can help you strategize, make decisions, solve problems and even help with employee issues.
6. Train Your People. Make sure that your staff is well trained. The cost of training pays off and insures client satisfaction and project success. Trained staff results in less time and cost on projects, and reduces writing off project fees.
7. Focus on Client Satisfaction. 80% of revenue comes from 20% of clients. It costs a lot more to get new clients than keeping the ones you have happy. Find out if your employees are keeping promises to your clients? Focus on the Good Clients!
8. Tightly Manage Utilization and Project Profitability. Since project-based professional service firms sell people, make sure all staff members are “running” at peak efficiency. Set target goals and manage schedules. Being profitable is better for Employees, better for Your Clients and better for the Company.
9. Keep Up With Technology. Your competitors will have an advantage if they can deliver a project with less cost and on schedule.
10. Improve Processes. A company review will help identify how much time is wasted with inefficient processes and redundant systems. Everything can be done better and more efficiently.
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