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Business Advice

How To Cleanse Your Business From Inefficiencies?

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With 2023 fast approaching, we are reflecting on the year behind us. All the goals were reached, and relationships were made. All the jobs completed and targets acquired.

But what if we ask ourselves, “What could we have done better?”.  

Much like many personal aspirations, the new year can inspire businesses to look for ways to improve their financial performance, team performance, and overall business health for the following 12 months and beyond.

Plan a business cleanse and prepare for a more prosperous 2023. Cleansing your business of harmful roadblocks or inefficiencies early in the year will substantially impact performance and help you structure a clear pathway to optimal profitability. Set finite boundaries as you navigate your business through a new calendar year.

Here are eight things to cleanse from your business to make 2023 more efficient, profitable and healthier. 

 

Underperforming staff 

Who you work with profoundly affects your attitude towards work, especially for your staff. Members that are not working toward the same standard or vision for the business will only be a hindrance to growth and development. Cleanse out the bad apple and see your whole team’s morale flourish and customer return rates increase.

Toxic clients

Some clients are just more trouble than they are worth. The clients who demand more with each interaction, clients who call you, and when you see the caller ID, your stomach churns slightly. Most of your clients are likely fantastic, but perhaps some rotten eggs are difficult to deal with and dramatically affect team morale and your profit margins. It’s time to let go of the clients negatively impacting your business.

Unreliable suppliers

Not only are these a headache to deal with, but they are also awful for business. No matter how much of a great person they are or how long you have partnered with them, there is only so much instability your business can handle. Consider finding new sources or securing exclusivity for the new year. 

Unused software subscriptions and apps

Most business owners spend money on unnecessary software, programs, services, and other items they rarely or never use. If you can’t even remember all your subscriptions, go through the bank statements and credit card bills to see what you are being charged for each month. 

Likewise, with your continuously growing inbox. What newsletters or updates have you subscribed to and never had the time to look into? Clear the digital clutter and click unsubscribe. Clear the desktops of previous projects to start 2023 with a less distracting workspace.

Unnecessary steps

Automation and effective systems may take up a bit of set-up initially, but the beginning of the year is a perfect time to put them in place to save you countless hours in the year ahead. What processes can be streamlined, automated or even outsourced for optimal compliance? 

Pointless meetings

This is a big one, with meetings becoming in-person again. How much time can you save by cleansing pointless meetings from your calendar? Is it essential that you attend? Does the meeting have a point and a time limit? Could it be relayed in an email or a quick phone call instead?

The no-shows

Look at the previous year to see what number of cancellations, staff illnesses and even no-shows you may have experienced. Were there times you waited around or had to delay proceedings due to the lack of commitment from someone? Place contingency plans to help prevent this in the future.

One of the most common ways to do this is to ensure a tight booking policy that protects you as a business. Perhaps consider cancellation fees or a deposit to ensure appointments are kept or covered. 

Spare parts

Most people do not know how much money is in physical assets if they just cleared the clutter. Sell your spare parts or old equipment and turn your mess into gold (or extra cash). Use the extra income to invest in your business and increase the valuation for a great start to the new year. 

If you have any downtime this holiday season, take an honest and accurate look at your business. See what may need to be cleaned or removed for a clear path to success. Give yourself the best chance to claim every opportunity the new year offers and see your business in a much better financial position in 2023.

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