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Business Gems: Small but Brilliant Tips!

Jul 01, 2002

Number Crunching Essentials

One of the most mundane aspects of running your facility may well be keeping track of the balance sheet. But what an essential task it is! Not only will tracking the numbers make your operation run smoother, if you ever decide to sell your business or apply for a loan, you will impress potential buyers and lenders with your top-of-mind knowledge of your company’s financial health. Gain a better grip on what’s happening in your books, and perhaps your company, by reviewing finances regularly.

Source: Quicken.com Small Business Newsletter, January 2002, www.quicken.com

Start-Up Sensibility

Do your employees behave as though you have unlimited resources? Encourage them to act more frugally by giving them more hands-on responsibility for basic operations. For example, Sean McLaughlin, CEO of Eze Castle Software effected corporate change at his company by creating a “chore system” in which employees assume tasks such as changing lightbulbs and cleaning up the kitchen. He reports that the system not only inspired a sense of fiscal responsibility, it also renewed his company’s sense of community.

Source: Inc. Magazine Online, www.inc.com

Don’t Reinvent the Wheel

We’ve all worked on projects that were similar to others we’ve completed previously. Why do all the work again for project components that are similar? Save time by recycling as much content and structure from the last project as possible. The same holds true for letter writing. Form letters are fine as long as you add personal touches such as each person’s name, title, address and perhaps a short note to connect you to that person.

Source: EMS Manager and Supervisor, July 2000

Quotes

  • "If the rate of change on the outside exceeds the rate of change on the inside, the end is near."

    —Jack Welch, former chairman and CEO, General Electric Corp.

  • "The way to get things done is not to mind who gets the credit for doing them."

    —Benjamin Jowett, translator of the works of Plato

  • "If you don't like something, change it. If you can't change it, change your attitude. Don't Complain."

    —Maya Angelou, writer and poet

IDEA Fitness Manager, Volume 14, Issue 4

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