If possible, align payroll with business income. For example, if your business typically receives income bi-weekly, change staff payroll to also be bi-weekly. Not only will the alignment help with cash flow, but fewer payroll checks each month can
Many small business owners find there aren’t enough hours in the day to get everything was done that is required of them, let alone find any time at all to work on the changes that are necessary to take their
Developing and implementing systems to enable everyone in the business to “touch things only once” whenever possible, is a key to an efficient and effectively run business. Think about how much time is spent on a particular issue and how
As a small business owner for over 30 years, I always strived to show appreciation for a job well done and to let the staff know they were appreciated. There were so many things I have done, both high budget
Pros
Share responsibilities
Share expenses
Someone to run things so you can take time off
Cons
May not agree on how the business should be run
May not agree on how the money should be spent
Doesn’t
I believe many people spend more of their awake hours at work than anywhere else. And life is too short to not enjoy what you do. Also, if you enjoy your work, odds are you will do a better job.
What can companies do to position themselves for success and earnings boosts in the future when facing a challenging economy?
Now is a good time to take a few steps back and really look at the business and how you
The most important thing is to really evaluate how money is being sent and how the business is being run. When times are tough you need to be sure you are not cutting the wrong things. Look at how you
I used to feel that every client deserves the same level of service regardless of the amount of income they provide to my business. That is, until there weren’t enough hours in the day to do that. To provide the
1. In the event an employee is out sick or on vacation, etc. someone else should be able to keep things running smoothly by being able to effectively do that employee’s work.
2. If an employee were to leave unexpectedly