2005 Winter/Spring Volume No. 5
Going to the Next Level
Many companies find themselves at a point where they need to
become more efficient and corporate in the way they run their operations. Here are a few tips from the experts...
1. Clean up your accounting books; make them as transparent as possible.
2. Clean up the physical appearance of your facilities. Get everyone involved.
3. You may have been, with your accountant’s approval, running non-normal
business expenses through the business, writing them off. Stop.
4. Prepare a list of your customers. Include how long each has been a customer,
how much each spends with you annually, how frequently they spend with
you, and how recently they have purchased from you. Next, categorize by
top 20%, middle 60 % and bottom 20%. Prioritize from this information
your company’s sales and service growth work plans.
5. Review your suppliers. Identify your top providers. Bring them to the table and
lay out expectations from you and your company to provide cost-reduction ideas,
productivity solutions, and general competitive market information.
6. Be able to show how much it costs to deliver a product or service to a customer.
7. Establish an employee manual that states rules of behavior and what is expected
8. Have a document of how all the key operations are done and who to contact for
spare parts and repair information.
9. Get those family members who are nonessential off the books. Or at the very least,
10. Have your business valued every year, along with a review by a competent
business/corporate tax attorney, at the time you do your year-end financial
Click here for a listing of companies offering Trucks & Accessories, Decals, Financing, Restroom Trailers, Trade Publications, Marketing, Restroom Manufacturing/Sales, Billing/Routing Systems and Insurance.
Click here for more information on effectively marketing your business to special event coordinators, and construction and agricultural businesses.
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