Business Tips

SACK YOUR CUSTOMERS AND EMPLOYEES!

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Well, not all of them! How often do you hear how “if you didn’t have clients and employees how better my business would be”. Now this is mostly said in jest but let’s take a look at this. Your business needs clients but does it need the low margin high maintenance customers. If your accounting system can provide client by product by margin analysis review where your margin dollars are coming from. Culling out the low margin customer by applying appropriate business rules ie returning these clients to your regular list price for example. I’m sure there are many other non discriminating ways to bring better value to your business from these clients. It is a bigger discussion depending on the type of business you run or manage. Take some time out and review your client file.

3D successful business group with arm up - isolated

3D successful business group with arm up – isolated

 

For some businesses your employees are your single biggest asset. They can make or break your business. Unfortunately not all employees are equally busy, equally effective or provide equal value. In today’s litigious industrial relations world business large and small need to tread very carefully when it needs to remove a non performing employee. This is the key….non-performing. You need to have agreed job descriptions in place and performance manage your staff (all your staff) and through this process you can get low performing employees to return to the agreed job description and performance or commence the process to exit the employee from the business.

Continuous review and engagement with your clients and employees will add significant value in the medium to long term.

About the author / 

Wayne McCarthy

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