Today
we’re sharing what we call “ideas to steal”. They are all real-life ideas from
successful businesses — action steps you can pick up and run with right away,
without having to research, test or otherwise delay implementing. And, you
don’t need to spend money to do them.
1. Bill faster. Your
receivables can count for 40 – 50% of your actual assets. Don’t batch invoice:
bill as soon as you can. Simplify your business. Weed out the
unprofitable and the hard-to-sell.
2. Get your
business and your web site listed in relevant directories. To find
directories, Google the name of your town plus directories url” (e.g. “cobourg
directories url”).
3. Learn to
delegate.
Figure out what you do that turns dollars. Then delegate the rest.
4. Encourage
employees to explore more efficient approaches to their tasks
instead of relying on their standard way of doing things.
5. Don’t forget
suppliers.
They might not be on your payroll, but they are more apt to do a few things for
you at no charge because you really take care of them.
6. Work faster. If you can
condense three four-month jobs into three three-month jobs, you can do one more
job in the year.
7. Reward your team
for meeting budgets and time lines. A 5% bonus is cheaper than a 20%
increase in costs.
8. Cut overhead by automating
most of the non-producing items like accounting, customer care, voice
mail, sales reporting, ordering and record keeping, better outsource it..a
9. Offer to be a
spokesperson on your specialty when your local media need an expert
opinion. Send them a relevant press release every month.
10.
Highlight offers, features, promotions and news in
your email footers, invoices and letter signatures.
11. Start social accounts with
Twitter.com, Facebook.com and LinkedIn.com and post articles.
12.
Get your clients to refer you. Check out “Make
A Referral Week” to learn more about how referrals can build business.
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