Don’t Cry Over Spilled … Sweet Tea?
Anyone who knows me well understands that I really love my sweet tea. Recently, after a long day, I was pouring up some tea when a minor disaster happened. The handle on my long spoon broke, causing a chain reaction of making my little tea boiler crash into the pitcher sitting on the edge of my kitchen sink. It knocked the pitcher over, and tea spilled everywhere.
I had noticed the handle on the spoon felt like it was loose when I first took it out of the drawer, but I thought it would be fine, so I ignored the problem. Cleaning up that sticky mess off the floor, cabinets, and countertops was not in my plans. Plus, it was a waste of good tea, so that was slightly tragic.
Reflecting on the incident later, I wondered how often do business owners ignore warning signs that things may be about to happen that are unplanned, or maybe even disastrous? These unexpected events can cause businesses to miss opportunities, lose customers, have excess costs in rework, have a decline in morale, and many other serious problems.
It is easy to get caught up in the daily grind of getting things done and making things happen. Entrepreneurs can become preoccupied with working in the business so much that they forget to step back and work on the business from time to time.
At hb&k, we are helping our clients become more proactive and less reactive. Some of the ways we can assist are:
SWOT Analysis: Helping business owners assess their company’s strengths, weaknesses, opportunities, and threats can provide an understanding of where attention needs to be focused.
Strategic Planning: Developing a one-page strategic plan to focus on what a business wants to accomplish over the next year to move them forward can be huge in making those goals a reality. Sharing it with employees and getting them to understand how their roles fit into that plan is a vital step as well.
Lean Six Sigma Analysis: If a client finds themselves doing things a certain way because “we’ve always done it that way,” it might be time to perform a process analysis using the methods of Lean and Six Sigma to find points to correct to create efficiencies while maintaining or increasing great quality.
CFO Services: We provide a variety of services in this area such as:
- Budgeting and cash flow analysis
- Profitability analysis
- Industry trends comparisons
- Debt structure and refinancing advice
- Accounting system design
- Risk management
- Internal control review
- Key Performance Indicators (KPIs) and Metrics monitoring
We enjoy helping our clients develop great businesses plans and strategies so that they can focus on the future, be adaptive to change, and be prepared when challenges arise. Call on us to consult with your business.
This blog was written by hb&k shareholder, Rachel Godwin.
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