According to the CMI – the Chartered Management Institute – a survey of British managers has revealed the top priorities for businesses in this year are:
Do you agree? What are your organisation’s current priorities? Here’s what the survey said.
Cost control is a hot topic with 75% of British managers stating that they would be focussing on costs in this coming year. We work with a lot of small businesses and we agree – to some extent! Many businesses we work with are keen to cut costs and it’s pretty easy to do, let’s face it. Unfortunately, they often don’t really consider the impact of what they are cutting. Or they wade in without looking properly at the figures. Are you cutting costs that generate valuable income, build your brand or provide excellent customer service? Be very wary of trying to save money and then realising later that it has cost you thousands in lost income. By freeing up your time by spending wisely and changing things a little can you generate more sales, improve customer service or invest in the future of your business to help it grow? In our experience you can and we love helping clients to do just that.
According to the same survey, 61% of British managers are prioritising improving productivity this year. If you agree, how will you do that? What will really improve productivity in your business? And what are your options to help you achieve it? Small businesses in particular can struggle in this area due to lack of skills within the business. The business has often been setup by a specialist in their industry. They may not have a clue about how to organise their finances, maximise their marketing budget or get the best out of systems. They take advise of friends, partners, colleagues without really understanding the implications for them. They can be reluctant to spend money which will improve productivity because they see it as their money. That’s fine if you want to stay the same. But if you would like to grow your business, it can hold you back. Our experience tells us that investments in productivity can be money well spent…..if it’s done in the right way. If you can achieve more income with the same team by doing things more smoothly and reducing wasted time and effort we believe you can in effect cut costs and maximise the return on your investment. We’d love to chat with you about how we could help you do that.
What about performance? Do you want to squeeze a little more profitability, increase your sales, manage your team better, increase your own income? Is your management style helping or could you as the owner be hindering your business? We believe if you are clear of what you want to achieve you can improve performance. It’s an ongoing cycle of performance improvements that makes a successful business. Does your company’s culture encourage this or are your team and you stifled? You may be performing well or have increased sales, but could you do more with a few changes? If you think you could improve the performance of your business, we’d love to hear from you.
Email Jackie@Flex4Success.co.uk if you’d like to explore how to improve your finances, productivity or performance – or all three.