Cut Intake
We are all told that if we want to loss weight, the first element is to cut our food intake. This usually means to cut the sweets, or highly processed foods. It is also suggested to cut the extra portion size depending on our activity level.
It is the same with Expenses. We all want the luxury items, the best gold pen, chair, car. What ever you have put as the ultimate luxury to have in your business that money can buy. Usually these items do not match the purpose and vibe of the business that you set out to create. But then again, have you sat down and planned what itis that the business is suppose to achieve.
What problem is it solving and how is it going about the solution.
Does it have the look and feeling to show what you are about.
Are you spending money on the sweets in your industry that just don’t achieve much except leak money out of your business.
Yes, some of the stuff is pretty, but that is the important point.
It is just stuff.
Not necessary things that probably don’t improve your business.
Also, do you have more equipment or warehouse space than is needed. When will the activity level or growth happen to need that space.
What is the plan?
Momentum
The second element for losing weight is exercise.
What is your plan to build strength and flexibility so that your fitness improves and burns the weight off?
The health of a business is the same.
You need a plan to go forward to build the strength, so that bumps in the road don’t derail the business. For many businesses the recent world pandemic was a major bump or detour in the road.
Many business owners say that I don’t know how many sales I am going to make this week. Or when the customers will pay their accounts.
That is reactive.
To Increase Profit, you need to be proactive.
A house is not built based on what materials turn up on a particular day. The job is planned so that it is built in the correct order and wastage is minimised. The painter doesn’t turn up to paint when the foundations are being laid.
A business health needs to be planned, it needs a back bone that is strong.
If road blocks are getting in your way like its raining and you don’t want to run in the rain. Then you need to find away around or an alternative.
Waiting for the situation to be perfect, then it might be 6 months or more. In the meantime, you have put on more weight or in the business you have loss more money.
Put a plan in place for your business’s direction.
Work on the business and how you want it to go, be proactive.
That doesn’t necessarily mean working more in the business, on the production line because that is not leading the business.
If you want to learn more about setting the direction of your business and being proactive, then have a look at the Thriving Blueprint Course.