As in life…so it is in business. We all have things we put off. Things we know we should do but don’t. Things we’ve started and let go to the wayside. Things on our to-do list that get transferred, and transferred, and transferred…always on our radar but not getting done. Most likely, we know where we are struggling and where we fall short – if we’re being honest with ourselves.
Calculating Waste
The difference between putting things off in business versus our personal life is what it costs. Sure we all pay in one way or another for not doing what we need to do, but in business – there is a tangible cost that you pay, and it is a cost that rises – quickly.
If we’re not ready to address the issues, the last thing we want to do is think about what it’s costing us to continue to ignore it. Take a gander at some of the primary areas of waste, and consider if any of these apply to a situation that may need addressing in your business.
- Keeping employees in ill-suited positions.
- Maintaining inaccurate workforce counts by overworking or overstaffing.
- Being too busy to conduct staff training.
- Not documenting procedures.
- Avoiding employee disciplinary issues or performance reviews.
- Sidestepping technology upgrades or process automation.
- Putting off client reviews and price increases.
- Staying rooted in “how we do things” or otherwise preventing change.
- Remaining uneducated about your industry, industries you serve, any of your products and services, or your customer base.
- Losing market share and client base faster than you’re adding new customers and clients.
- Stagnant or steadily decreasing P&L.
Getting it Done
While we may have the best intentions, we are often times derailed by lack of resources to complete our wish-list projects, regardless of the benefits we know they will bring.
As with many things in life, if we wait for the ‘perfect time’ to take on a new project, challenge or sweeping change – we may find ourselves sitting in wait and not doing a thing. Sometimes – we just have to tackle it head on. Make a move. Take the first step. We just have to start the process and know that it is going to be for our best.
Making change takes commitment. Growth takes time. Both inevitably cost you money. BUT, if you’ve truly calculated your waste – put some actual numbers, costs and time to the above scenarios, you’ll know when it’s time to make a move. You will also realize that your cost savings and ongoing benefits you will reap will far outweigh the perceived pain of transition and any upfront costs needed to get you going.
Shameless Plug
I would be remiss to not mention partnering with a consultant is a great way to get you over any of these humps! From providing guidance on establishing a plan to selecting vendors or technology partners; from creating documentation and developing training programs to providing interim leadership or bench strength – – Consultants provide you with the resources you and your team may be needing!
