Save Money, Save Time, Get Rid Of Waste
I have been doing some lovely waste reduction projects lately.
This will mean different things to different people. For us it means looking at everything that is being bought and asking the question ‘Do I really need this?’ A lot of the time the answer is no. Having done this with clients, I decided to practice what I preach and have a long hard look at my accounts.
I have managed to get my lovely accounting software to produce a return on investment report for all of my networking and advertising. On the basis of this report it was very easy to see what is working and what isn’t (obviously try things for a minimum of 6 months to see if they work first). It has made my advertising decisions very easy.
I have also looked at the subscriptions that come out of my account every month. Do I use them? Do I need them? The answer to quite a few has been no, so they have been cancelled. (Always check your contract before cancelling.)
Anyway I got onto a bit of a roll, and started looking at all sorts of other ways of reducing waste. Often a large area of waste is time. How much of your time is actually spent creating revenue or adding future value to your business – probably far too little. The question to ask here is ‘Does it make a difference to the core value of the company if I do it, or can someone else?’ The chances are that someone else ‘costs’ less per hour than you anyway.
Another time waster is delays in the system. How long is a project left on hold waiting for you to get to it? Reducing this sort of waste can seriously improve customer service. Where are the bottle necks? Where are the unnecessary loops in the internal process.
All of this has been a real eye opener for me, and will be resulting in some lovely new systems.