Do you have a procedure manual?
One way to increase your profits is to find efficiencies in your operations. I know it may be difficult to put together that “How To” book, but it will be worth the effort.
If you already have a manual, this is the time to get it out and review it. We can assume there have been some changes within your organization over the past year. Staffing may have changed, projects altered, budgets cut.
Gather key staff members together and review the manual together. Get input from the people who are making the daily decisions. Document the activities of both your production and administrative areas. Include everything from accounting to utilities. Update job descriptions.
Organize the detailed information about how your company runs. Focus on EFFICIENCY. Are there situations with duplicate activities. Does your floorplan provide a circular work flow pattern? Is storage accessible to production?
If you don’t have an existing operations manual, go to the office supply store! Seriously. Go get a large 3 ring binder, some of those write-on tabs and plastic sheet holders. Here is a list of areas that need to be sections of the binder.
Start with these 5 tabs and add more that pertain to your business. Start with one binder and then expand it. I’m talking about having a total of 5 binders full of information. Capture all the knowledge within your company.
As the binder comes together, the in-efficiencies will surface. You will see redundancy and out-dated practices. Old methods will have been replaced by computers. Get rid of the old file cabinets now that electronic storage is available. Look at the job descriptions and you’ll see ways to improve how the jobs get done.
It’s hard for me to be more specific without knowing the industry involved. You know your business the best. Take the time to look at this way to increase your profits. Ask your key staff where they see room for improvement. Ask vendors for improvements in their delivery, billing or products.
You will be heading towards increased profits as you document this information and streamline. Kay Peck