In this economy we have to learn to do more with less. We hear it every day. I hear it all the time from my clients and their employees. Let’s cut back; lean up; flatten; get rid of the fat; skim the excess and just do more with less. In good times, people as well as businesses swell. Their profits soar and so do their employee rosters the extras are easily justified.
However, when times are not so profitable when everywhere you turn doom and gloom is being broadcast one takes a look to see what can be removed. Removed from the budget; removed from the employee roster; removed period!
Smart business people will take a hard look at their companies and make adjustments no more general snacks in the break room; cut back on the product range of drinks or cut them out period; reduce the amount of travel; ask employees to be mindful of paper use (miss-use) and general office supplies not handed out as plentiful as before. Those little things they add up over time.
Now the question is how to get more business with less expense is that possible?
To answer this question, a business owner must look at every part of their business: lead generation; conversion rate; number of transactions; average dollar sale; and margins (To get a FREE Assessment to review your business with our Business Coach, click HERE).
Examine each of these and ask tough questions in each area. Categorize your current client-base and figure out where the majority of your business is coming from.
1. Do you have clients who suck your time with very little return?
2. Are they worth your time?
3. How do you keep your good clients?
4. Have you asked them recently what they like and don’t like about your business, your service?
Your good clients are the ones you truly want to focus on. Because they are the ones you want more from. Work on attracting more of them. Do more of what they want so you will have less of the time and money hogs.
“Doing more with less” is a concept that can net a more robust business in a down economy. It can give you a healthy, profitable business on the other side one that you are even happier to call your own.