Any business worth it’s salt must continually find ways to justify its existence, each and every day.
This means taking care of the vital processes that run its operation, such as balancing healthy cash flow, taking care of customers old and new, and continually trying to market and conduct outreach. However, this process can also include essential housekeeping, and it’s important to remain aware of that fact.
Removing dead weight from your firm may be a long-overdue practical prescription that you apply yourself, and if not pre-emptively considered it may come as a reactive effort, aimed at solving a real problem.
You simply cannot afford to carry dead weight in your firm. It’s a kind of void, a bad practice black hole that can end up sucking other processes and productive efforts into its vast and yawning reach.
Okay, so we may not need to get so dramatic about it to start enacting solutions, but three questions remain –
- What is the dead weight?
- How did it get there?
- And how can we remove it?
We hope to answer those questions in the advice below:
#1 Enhance Staff Accountability
Staff accountability is important to implement, even if you trust them deeply. Many mild-mannered managers can feel somewhat unhappy trying to verify the work conducted by their staff members because we know that in order to run a successful enterprise, we need to delegate and trust.
However, if your business is struggling that shows there may be a labor issue somewhere along the line.
While developing some kind of secret policing system and distrusting those on your staff is hardly a good idea, it can be worthwhile to verify the productivity of certain departments, figure out where issues may have stemmed from, and see if you can implement changes to that degree.
If a staff member or two are regularly late, are consistently underperforming and continually causing your management team issues, it can sometimes be worth having a shakeup of staff to replace potential talent with actual talent. This is not an overly harsh stance to take, as your business needs to do what it can to survive.
#2 Inspect Investment Dead Ends
Investment dead ends can also be a real issue. For instance, it’s not uncommon for companies to invest in large amounts of stock in order to beat raising market prices, perhaps to supply their manufacturing line.
It can also be that investments in real estate, or stocks, or even other businesses can be a vital part of expanding a company’s investment portfolio.
However, it can sometimes be worth trimming these investments down just a little to ensure you instead have room for working comfort and potential.
#3 Reinvigorate Your IT Network
Reinvigorating your IT network can also be a worthwhile approach to take. Too often can outdated systems leave us in the dark, unable to connect, or simply unable to perform work as quickly as we should.
Do your staff moan that it takes a long time for them to load spreadsheets, or download cloud files? Do you continually run into issues with your service suites?
It might be that using a better service able to take a cohesive look at your systems and provide it all is your answer.
Outsourced IT support, especially from a worthwhile company, could be the end of these woes for many different reasons.
In 2020, no company can afford to be continually disappointed by their network potential, and so here you’ll be solving that equation with a careful and immediate approach.
#4 Streamline Your Marketing
It’s quite simple for firms to take a too-complex approach to their marketing.
Perhaps putting out disparate messages aimed at collecting different positive reactions from certain target audiences, or marketing through too many platforms at once, or offering discounts across the board instead of to those who may truly use them can all be examples of complex marketing.
However, it could be that if you wish to remove dead weight from your firm, you simply reduce and streamline your marketing so it has much more of a punch.
For instance, instead of putting out an ad in the magazines, through SEO content services, online via Google Ad banners or by billboards, you join forces with a similar, complimentary business and promote your services in a manner that gives you both strength and allows you to join your audience.
The more you can streamline your marketing, the easier it is to keep track of and analyze, and you may even experience a much better return on your intensive investment.
With this advice, we hope you can fully remove the dead weight from your firm.