There is a notion in business that we should be faster and more productive at how we track our business, analyze our time, and optimize what works.
If you can’t find the time to add systems to your business, then try a little subtraction by addition. Let’s look at the fast, simple things that you can do to make your business more profitable:
1. Cancel services that aren’t working for you.
We have all been in positions where we have signed up for a service or software usage and six months or even a year or two down the line we are paying for software or service but have never used them and now they do not fit into our process for our business but we are holding onto them because we believe that one day we will make use of them. Then those services and software that you’re always “getting ready” to use…but never do, you should get ready to dump those services and reclaim your money.
Ask yourself if the monthly services that you’re using are really living up to their promises. Are they paying for themselves right now, or are you going to need other elements to take full advantage of them?
Look for more cost-effective solutions, and look for services that combine two or three features that you’re already using.
There are many times that you’ll want to “make the switch” but you’re hesitant because you’ve got data there, or the process of changing over would take time that you don’t have.
But when you finally block off some time and make the move, you’ll be surprised at how good it feels.
Look for companies that give you great benefits to switch. Usually, the services that are “stickiest” know that it’ll take a generous set of benefits to draw new customers.
2. Develop the courage to quit.
Sometimes, you get stuck with a business plan that just does not benefit you.
Look, it’s important not to give up on something easily, but every business has something that I like to call “Sweet FA costs”. That’s the point where things aren’t going to get better, and the more you invest, the more you’re going to lose.
Look for elements of your business that are keeping you from accomplishing MORE and doing something BETTER. Look for the items in your business that you can quit or improve upon. And if you aren’t sure that you can quit those elements, try to step back and find ways to tackle the same tasks more effectively.
3. Learn more efficient ways of doing business.
The time that you spend struggling to finish a task can sometimes be spent asking more efficient and advanced people their methods for doing things.
Look up blogs and books discussing the very specific stumbling block that’s impeding your process and start applying those fixes.
Also, there are plenty of paid services that charge for convenience – so if there’s a skill you can learn to save yourself some money, take the time to learn it.
Don’t treat this improvement as a one time thing. Sign up for newsletters and resources that will gradually improve your skill. You won’t learn a skill overnight, but a small amount of time can give you compound results.
Remember that cash is an amazing source of leverage. If there’s a task that’s critical to your business and requires a lot of skill, consider leveraging your money and hiring a specialist to do it. Cash is always tight, so if you’re smart, you can get a lot for a little and move your business in the direction you want.
It’s your business to improve and see you next time.