Laura Day’s Top Ten List – Number 3: Operational Improvements

 

There are some things we see over and over that are really not in your best interest.  Here’s why:

#3.       Remember the Board Game “Operation?”

I played Operation all the time, and remember the commercial jingle well, can hear it in my head right now.  The challenge of pulling out every little piece of information, delicately and right on point.  It’s the same thing with running your business.  There must be a “diagnosis” of your operations at all levels.  What is going well?  What is going poorly?  What is happening in the marketplace that you can not control but need to deal with?

There are never enough hours in the day to run your business and also work on your 1-year, 5-year and 10-year business plans.  I know, because I am doing it myself every day.   If you can’t make the time to do it yourself or to delegate to someone you trust, then think about whether hiring an outside consultant to give you a true analysis of the things you are no longer able to see, because you are too close to them or don’t have the time, is a good use of some of your money.  Operational improvements are often a necessary part of a restructuring and workout plan, or an emergence from bankruptcy as a restructured company.

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