The Profit Map – Operations
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Hi, this is Judi Otton with GrowthCast and I’m back with your latest Fiscal Fitness Tip of the Week. Today we’re going to continue our series on the Profit Map, my diagnostic tool. We’re on module three ‘O’ for Operations. Now there is so much in this category, far more than I can share with you in a short video but I’m going to share with you today the most common and the most impactful things that I’ve seen with all the clients that I’ve worked with. So let’s get into it. The first thing I want you to look at is your capacity. How many clients or jobs or orders, how many more could you take on? Do you know that? And do you know what’s limiting that capacity? That’s going to be important as you grow. The second thing I want you to look at is are there any key people in your organization that don’t have backup? I had a client have one of his key people literally get hit by a bus. Fortunately he’s okay, which is great because he’s a lovely, wonderful man. But he was out of work for a few days and he is a very important part of a very important part of that team. You know that as soon as he came back, we had him training someone as backup. This is something that I see very commonly with businesses that one person, multiple people can be very important, very critical to the operations and they don’t have backup. The third thing I want you to look at is over time. Is it happening once in a while, because there’s like just a crunch, or a mistake was made, or some little glitch, or is this something that systemic that’s going on all the time? This costs you a lot of money. So make sure that you’re paying attention to the overtime that’s being clocked. And the fourth thing that I want you to take a look at is those friction points, those pieces of your operation or process that are difficult, are error prone, they take too long, they’re not going as well as you would like them to. This results in lower capacity, higher over time, possibly poor customer service and a whole set of other problems. This one’s a little bit tricky because you may not see it because you’re close to the business. But ask your employees, ask your advisors, ask anyone else that might have a fresh take on your business. Thank you for listening. This is Judi Otton with GrowthCast . This was your latest Fiscal Fitness Tip of the Week and I’ll be back next week with the next module in the Profit Map.