The “You’re the Boss” blog in the January 18 New York Times featured “How to Diagnose What’s Wrong With Your Business” by Jay Goltz. Mr. Goltz said to concentrate on 10 issues in three categories:
Accounting and Finance
I wrote a comment on this blog saying that I agree with these three points. In fact, I tell business owners thinking of exiting that the above three areas are the three most important things they can work on in their business. My advice, in simplified form, is:
Do some marketing. Before starting, do your homework and document everything you do. Be able to show the actions taken and the results achieved (your metrics of success).
I use the phrase, “Have systems and processes” and this really means management. Manage the people, processes and systems and how your people fit into your systems
Have good accounting systems, monitor your accounts for accuracy, use quality management reports and have a budget and projections. Doing this puts you in the front of the crowd.
The strategies for business aren’t that complicated. It’s the implementation that trips up people.
“Coming together is a beginning. Keeping together is progress. Working together is success.” Henry Ford