Running a Business

Be Smart and Spring Clean Your Business Before 2015

You may well have in mind and remember most vividly, what your grandmother used to do after the winter, or just before the new year dawned. The house would be opened up, the rugs would be dusted and hung out, the floors would be scrubbed and, the bedlinen would be aired out and everything would be done to drive the staleness from the house. After a thorough clean up everything would be put back in place and the feeling would be one of freshness and newness, welcoming the new year. This was called “ spring cleaning” and it is also a great business management idea.

You can spring clean your business too

When the end of the year arrives, its a good idea to do the same for your business- ie spring clean it. Doing this is December will have you all spic and span for the new year. Cleaning up in December will give you the maximum opportunity to start 2015 with as less baggage as possible. You will feel refreshed mentally and physically and start out with renewed vigor. Here are some business management ideas and tips that will get you started.

Throw away Old Stuff

You may not realize it, but a lot of stuff accumulates over a year which you don’t need or use anymore. Sell away old newspapers, unwanted books, and even broken stuff which you have been intending to dispose off. You may have unused computers and other machines and gadgets which are of no use to you anymore. But yet, they may have some value in the market. A good business management idea would be to find out if you can find a buyer or cal tech recyclers and convert these items into cash. They will be out of your way.

Reassess Your Team

We are not saying that you should fire somebody, but if someone is pulling down your team’s productivity and performance by their non productive attitude, and are in no way contributing to growth, then there’s no point in holding on to them. They can destroy your team efforts if allowed to stay around for another year. You owe your productive employees the responsibility of maintaining the most effective organization possible, which often means you have to let the unproductive ones go and pursue their careers elsewhere. A business management idea that will help you thrive and grow.

Reevaluate your Customers

Customers need clean up too. You must re reevaluate the profitability of your customers and to do this begin by dividing them into four groups starting from the most profitable to the least profitable. Categorize them as A, B, C and D. What your need to do is worship the A category, cater to the needs of the B category, encourage the C category and let the D category learn self service. When the cost of servicing a customer exceeds their profitability, they should be allowed to shop elsewhere.

Clean up inventory- Sanitize Accounts Receivable

Take a new look at inventory by identifying the most profitable items and least profitable items. Remember, profitable inventory management means just-in-time, not just-in-case. Take the hit and write off noncollectable debts now, so you can start January with a clean list.

Entrepreneurial Learning

Each new year certainly deserves to have the maximum opportunity to be a successful one. To be so, it should not be saddles with useless the baggage from last year’s obsolescence and wrong decisions. By taking these steps you’ll be proving to yourself and all around you that you have the discipline to make critical decisions for which successful entrepreneurs managers are known.

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