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December 24, 2018

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Business control is good, no matter how you slice it!

October 30, 2018

Last month I wrote a blog on staying in control of your business by delegation and empowerment.  In the spirit (pun intended) of Halloween, here are a few suggestions to stay in control of your Halloween:

 

  • Make sure the candy distributor is nice to all the kids.  Even the ones a little too old to be trick-or-treating.  They're the ones that will come back and trick you.

  • Make sure your candy distributor doesn't give out all the candy too soon.  You want leftovers don't you?

  • If you feel your house is going to be targeted by prankster's.  Get a volunteer to hide in the bushes with the water hose.

 

Now on to the fun stuff.  Below are a few suggestions to stay in control of your business:

 

  • Balance Sheet detail - Make sure your finance team has accurate and timely documentation of your balance sheet. Get the numbers cleaned up, then make sure there are processes and procedures to keep on top of these accounts.   Many companies don't stay on top of these accounts, which leads to many issues including an Income Statement that isn't accurate.

  • Human Capital - Make sure all of your employees and contractors have a way of communicating with you on a regular basis.  Make sure you are communicating with them.  Implement a weekly flash report system.

  • Your time - If you are an owner of a business, go grab a calculator.  Take your total company revenue for the year and divide it by the number of hours you worked.  That is how much each hour of your time is worth.  Record your time, then delegate the things you should not be doing.

 

And since you have your calculator out, try to answer the following:

 

What do you get when you divide the circumference of a jack-o'-lantern by its diameter?

 

Pumpkin pie of course!

 

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