With all you have invested in your business, the last thing you want to have happen is you lose focus.
That said are you focusing in on all the important things as they relate to your business? If not, you could be headed for disaster sooner than later.
So, what measures must you take to be more focused on your business?
Where Does the Focus Need to Go Towards?
In putting more emphasis on areas of business focus, first take a look at what you are doing with your finances.
It goes without saying that if your company is not healthy; you could be on the outside looking in before too long.
That said sit down and go over your company finances.
Among the things to look at:
- Money coming in – What does a typical month look like when it comes to the money your company takes in? Unless you are a new business, it would be smart to company your monthly intake from this year to how you did a year ago. If you notice any sharp reductions, try and get to the bottom of why this is. You want to be able to put your finger on why you may be losing money and how to stop the bleeding.
- Money going out -The same holds true with money going out. Are you spending more than you did in the past? This can be for supplies, office rent, marketing and advertising, utilities and more. While minor increases are not the end of the world, you do not want to see a major uptick in such costs.
- Is credit card debt an issue? – Last, look at your company debt. If spending too much in using a company credit card, think about relying more on cash moving ahead.
By understanding your money flow, you are focusing on one of the prime areas of your business.
Do Your Employees Have Everything They Need?
As important as company finances prove to be; what about your employees? Do they have all the resources and tools they need to be quite productive?
As an example, most companies have a sales team whether it is a handful of people or many individuals. If you have a sale team in place, do you supply them with all they require to get the job done?
Not only are tools they use when working with customers critical, so too are tools for tracking each sale.
That said it would be smart to turn to commission tracking software like Spiff if you have no such software.
The right tracking software can make it so much easier to record all the sales work your team is doing. Remember, no salesperson wants to be left out of a commission they earned.
Other things your team needs are a phone, computer, and a safe working environment. While all these things sound standard in today’s world, make sure you have them available to your workers.
If you have lost some focus on your business, take the time to see where you are lagging.
Once you do see where improvements need to be made, start working on them immediately.