The Value Of Proactivity

http://schaetzedeslebens.blogspot.com/
If you are a small business owner, your business can be one of the most important components of your life. It is your livelihood, the way that you earn your living and provide for your family. It can be a means of connecting with your local community and can also help provide for the lives of your employees. With all of these things in play, you are no doubt concerned about your business performance and how to maximize your results.

How to have a healthy business Your business operations depend upon many factors and each of them relate to the other. Ensuring that all functions can be performed optimally is a vital way to reduce the amount of time or money needed to produce results and can directly impact your bottom line. Benchmarking is one of the best ways to achieve such results. By leveraging technology, benchmarking is able to efficiently hone in on problem areas in your financial and operational systems.

http://schaetzedeslebens.blogspot.com/

It then can identify and help you implement simple changes that can produce positive outcomes to your sales and profits. It can allow you to perform tasks in dramatically less time than before, freeing up resources for other jobs. It can save money by eliminating waste and it can allow your company to serve more customers in the same amount of time. All of these things together are how your business will not simply survive but will actually thrive.
Do not wait for a problem If you wait until you really feel a problem, the solution could end up taking more time and investment. If, however, you engage benchmarking on a regular basis even when you do not suspect a problem, you can catch small things early, allowing the fix to be implemented much quicker and with less impact to your business. Adopting a philosophy of productivity will pay dividends for your business. Just like a preventative checkup at the doctor or dentist can find small things before they are out of control, benchmarking for your business when things all seem to be fine is the smart business owner's way to success. Business Benchmarking is the process of finding then fixing internal issues by comparing your Revenue and Expenses against the most efficient and profitable companies. This helps you identify the differences that may be keeping you from having the same success as your peers or competitors.

http://schaetzedeslebens.blogspot.com/

With your year-end Profit and Loss report or tax return you transfer each line item from your profit and loss, both revenue and expense, on to a Benchmark Financial Statement. You then extensively research to find similar companies with revenue similar to yours BUT with much higher NET PROFIT. Next you place your line items beside the benchmark company. At this point you easily find your deficiency(s) called LOST PROFIT!

0 comments :

Post a Comment