How to Choose Professional Advisors

You might be inclined to think professionals – doctors, accountants, lawyers – are pretty much the same in quality but that is not the case.  Yellow Belt

Hiring First Managers

This article discusses hiring your business’s first managers and supervisors.This typically starts to happen in what we have called the Small Business (5-19 Staff) phase of your business growth journey. We begin with refreshing your mind on some of our other discussions on the affordability, timing and budgeting for staff. Then we look at some […]

Hiring Staff: When and Who

Learn about hiring staff, the decision about when to hire your next member of staff and what positions to consider first.  This article is aimed, primarily, at owners hiring their first few staff members. But additionally, it suggests a thought process and habits that will be useful even when your small business becomes larger. The […]

Solutions Sales Process Steps: Performance Problems

Common Sales Issues and Solutions Your sales are not going as well as you would like.  There can be many causes for this.  We list a number of possible solutions sales process steps below.  Select those that are relevant. Then click on the links provided to drill down further into solving problems and finding solutions […]

Sales and Marketing: How to Improve

Are Sales and Marketing Overwhelming? Your business Revenue is declining but you are not sure why? Overhauling your Sales & Marketing is a great way to increase leads that convert, therefore increasing your Revenue. Sales Leads Declining? Rudderless Marketing Strategy? Not enough leads, leads coming to you but not converting – overhaul your Sales Funnel. […]

Efficiency of Labour

The efficiency of labour and therefore the costs of labour, in your production cycle, may be due to two factors. Wage Increases Have your salaries to casual staff increased between time periods? Yes:   Have you passed this cost along to your customers as an increase in price to compensate? It will take a while for […]

Getting Virtual CFO for Small Business

Ideal Virtual, Outsourced, CFO Solution for Small Business In a big business, the Chief Financial Officer (CFO) has the vital role of tracking what’s going on and using that information to recommend future strategy. Most likely, you are too small to afford a CFO on staff at the moment! So you are missing out on […]

SM2.0 80/20 Principle – Double Sales, Triple Profits

Introducing the 80/20 Principal The 80/20 Principle asserts that a minority of causes, inputs or effort usually lead to a majority of the results, outputs or rewards. Taken literally, this means that 80 percent of what you achieve in your job comes from 20 percent of the time spent. This implies that: 80% of your […]

Benefit from Labour Efficiency Ratio Metric

The cost of labour is one of the largest overhead expenses in most businesses.  Any inefficiency here is an expense that must be recovered from the potential Profit of the organisation.  Labour tends to grow of its own accord and it is very difficult for the business operator to know just how labour productivity is going as costs are rising.  The Labour Efficiency Ratio discussed in this article is an early warning alert if wages are moving in the wrong direction.    Read this if: You have have sufficient staff to find yourself losing track of their costs and contribution to company productivity / profitability or if you are looking at putting on staff, like accountants, that don’t directly contribute to profit generation. Probably more likely to appeal when you have 10 staff or more.    Relies on: mentions a metric dashboard to monitor your business. Audio/visual materials: none  Degree of Difficulty: Blue Belt (intermediate)

SM2.9 80/20 Staffing

Labour costs are typically 50-70% of your operating costs so anything you can do to improve labour productivity is a good thing.  The 80/20 Rule can be applied to the issues around staffing so that your business can operate as effectively as possible.  Yellow Belt

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