Archive for March, 2010

Why Good Habits Matter

Tuesday, March 30th, 2010

“If an individual is disorganized in life, that disorganization will carry over into the business. Poor personal habits will become poor business habits. The lack of discipline in daily living will be an undisciplined management style.” (MoreBusiness.com)

Ouch! The truth hurts, doesn’t it?

Being organized is like a circle that encompasses every aspect of our lives. Some people say that they are “more organized at work than at home;” or vice versa. But in reality, bad habits will follow and eventually catch up with us, no matter where we are.

When you begin to take control over missed deadlines, forgotten appointments and misplaced paperwork, it will have a ripple effect on your life. It’s like changing your eating habits – one bite at a time. Each time you reach for an apple rather than potato chips you will feel better about yourself and want to continue to make wise choices.

Getting organized is the same. Each time you meet a deadline or find what you need when you need it, you will love how it makes you feel and you will want to feel that way all the time. Its a matter of adopting better habits.

So what are you waiting for? Adopt some new habits and take control!

Until next time,

Happy Organizing!

Budgeting Expenses – Part Two

Monday, March 29th, 2010

Now it’s time to budget for the costs that happen now and then within your company.  Are you planning something different this year that you have not tried in the past?  For example:

  • Are you planning on an intensive marketing campaign to go with the increased sale you have budgeted?
  • Are you planning on purchasing new equipment this year?  If so the depreciation will be an adjustment to your costs.
  • If you have budgeted increased revenue for the year, will you need more office staff?  Will you need a bigger sales force?
  • With increases in employees also comes an increase in consumables like office supplies, gasoline for the delivery vehicles, cell phones, and yes even more coffee for the break room.
  • An easy way to estimate these types of costs is to take the cost in each category from last year and divide by the number of employees.  Now take the amount spent on each employee and multiply by the amount of total employee budgeted for this year.  Once you have this number you can tweak the numbers to keep your margin in line with your projections.

Focusing on that target market

Saturday, March 27th, 2010

Last week I talked about defining your target market.  When you have evaluated who your most likely customer is and what are their habits, you can go to the next stage of beginning to market to them.  .

We will sell to anyone, but we need to market to a focused group in order to spend our marketing dollars wisely.  The biggest mistake people make is trying to market to anyone and everyone.  That just does not work.  You have no message when you do this.  I see this over and over again. 

So try sitting down right now and figure out what the attributes are of your target market – bring it down as far as you can in detail.  Then start to ask questions like:  How can you get in front of them?  What will you say when you get there?  What do they really care about?  This will help you focus on the people who are really going to buy your product or service.

Next week we will talk about using benefits vs. features of a product or service offering when marketing to your target – that one will increase you sales in no time!

Work Life Balance…yea, right

Saturday, March 27th, 2010

 Balance Scale

 

With almost every client I coach, we inevitability lead to talking about this one.   For some, it means carving out enough time from their busy family life to actually work, especially those who work at home.  For other, it means actually stop working and go home and enjoy the other side of their life. 

The magic key?  Priorities.  If you family is your priority, you may not be able to grow your business as fast as you may want.  If you want major business growth, some part of your personal life may get short changed.  There are many ways you can minimize this, but the first is to decide what you really want. 

I grew up in the era of women thinking they could have it all.  We were wrong.  Our moms had their family; many of our daughters have their careers.  We tried to have both – and almost killed ourselves.  So when looking for work life balance; look no further than what you really want today from your life.  It might (and probably will) change down the road, but for today you need to be content with your choices. 

Next week we will talk about some ways to try to have a little more of both…

Budgeting Expenses – Part One

Monday, March 22nd, 2010

The next step in the budgeting processes is to estimate the operating costs of the company.  Let’s start with the costs that are recurring.  You should already know or have a good idea what these costs are.

  • These are the cost that you would pay, no matter the amount of business you have.
  • Look through your check register and credit card statements.
  • Another good place to refresh your memory is to refer to the invoices from the previous year.
  • Look for items like subscriptions, office rent, utilities, and office staff wages to name a few.
  • Now distribute the costs based on the time span you have chosen for your budget.

Too Busy – or Just Inefficient?

Thursday, March 18th, 2010
Man Sitting Holding Clock

 

We are men. We are women. We are mothers, fathers, wives, husbands and partners. And we all carry heavy plates onto which we cannot possibly fit one more thing.

When you say that you don’t have time for something, are you absolutely sure you don’t; or is the problem really a case of working inefficiently?

After all, 78% of us never plan our daily work.

When was the last time you stopped to think about all the things you have to do this week and actually added up how long it would take? More than that, when was the last time you actually gave yourself some time in your schedule to get those things done - rather than just try to cram them in?

Isn’t that a bit like telling twelve-year-old Billy on Monday to have his room cleaned by 8:00 Saturday morning for a fishing trip? And if it isn’t cleaned up, he doesn’t go. 

Although he is busy during the school day and participates in regular after school activities, Billy doesn’t make good choices during the week that allow him time to clean his room.

However, he really wants to go fishing and all week long he is mentally stressed about the fast approaching Saturday deadline.  

You can be sure that when Saturday morning comes around Billy will be stuffing his dirty laundry under the bed and hiding garbage in the closet to make the room appear clean. He rationalizes that he can ‘deal with the rest later.’

As adults, we really aren’t that different. We stress out all week long over approaching deadlines, only to end up discouraged and spinning in circles by Friday. We stuff our ‘dirty laundry’ into our desk drawers and hide unfinished work behind closed doors; and then rationalize that we can ‘deal with the rest later.’

There has to be a better way! And luckily, there is.

Michael Linenberger, author of Total Workday Control using Microsoft Office, suggests that we do take the time to mentally add up how much time it would take to complete our tasks each week and then actually schedule that amount of time into our calendars.

So for example, if I have 5 hours’ worth of tasks (phone calls, replying to emails, typing up meeting minutes, whatever) then I need to schedule 5 hours’ worth of time blocks into my calendar so I can get everything done without having to work into the night.

And then I need to really work on my tasks during those time blocks rather than check my email, surf the net or visit with co-workers.

Go ahead, give it a try. Write down all the things you REALLY need to complete this week and then do the math. Make appointments to get your tasks accomplished. I guarantee you will be surprised.

Until next time,

Happy Organizing!

Why you should define a real target market

Thursday, March 18th, 2010

Target

Last week I talked about hunting for potential customers.  I mentioned that if you said the words “anyone or everyone” in describing your target market and it will hinder your ability to gain new clients.

Think about a shoe store.  If they told you their target was anyone who needed shoes, how would you be able to refer someone to them?  Only if someone said they needed shoes – and how often would that happen?!

Now, if they said they focused on working women over 40 who wanted to look good, but needed comfort because they are on their feet all day.  Now, you can think of a woman who fits that category and you can refer business to them. 

The same thing will happen to you if you don’t really define who your target specifically is – trust me on this.

Next week – how you need this target market focus in order to use your marketing dollars for their maximum impact.

The “to do” list that works

Thursday, March 18th, 2010

One of my favorite sales gurus is Chet Holmes.  He has a great time management technique.  What are the six (or three or five…you get the picture) you must do today?  If you manage each and every day this way, you will accomplish thirty things in one workweek – how awesome would that be?!

So, grab a pad of paper tonight or tomorrow morning and list the six things you must accomplish tomorrow.  Now stay working tomorrow until you get them done.  Let me know how you feel – I know you will have an incredible sense of accomplishment.

Do it for twenty one days and you have a new habit that will propel your business forward!  Try it!

Gross Profit –Part Four / Projects

Monday, March 15th, 2010

The requirements for budgeting projects are a lot like budgeting for production except on a grander scale.  Plus the process is in reverse order, costs must be calculated first, then sales price.

  • Estimates are made and contracts are signed long before any activity is seen on a project.  The revenue for a project based business is set before any concrete costs are known.  Because of the switch, budgeting cost of goods sold is extremely important.
  • Determining how much a project will cost is similar to that of products.  Materials for the project will need to be shopped, labor hours calculated, addition of subcontractors also will add into the mix.
  • Budgeting for projects can become extremely complicated.  If the owner of a project based company is not proficient in estimating, it is imperative that a seasoned estimator is on staff or can be hired on consulting basis.
  • After the estimate is finished and the contract signed your gross profit is revenue less cost of goods sold.

Be Realistic and Effective with Your Time

Friday, March 12th, 2010
Use your calendar for weekly time mapping

Use your calendar for weekly time mapping

One of my favorite things to do with clients is helping them navigate through the murky waters of overwhelm. Being able to get more done is always a first priority – so I decided to share some secrets.

Time Mapping is a technique highlighted in Julie Morgenstern’s book, Time Management from the Inside Out. It expands on a best practice recommended by nearly all time and task management experts:

•Identify when you’re best at doing something

•Schedule those times throughout the week

So, if your mind is freshest in the morning then try to schedule daily planning and task time in the morning at the same time each day. During your task time, look at your list and see what can be completed in the time allotted.

If you like “open office” time after lunch to be available for coworkers and subordinates, then schedule that time in your calendar at the same time every day. Remember to add in time for checking emails, returning phone calls and other last minute issues that pop up.  

It’s obviously impossible to keep the exact same schedule every day; but time mapping will help you to develop the habit of actually doing whatever activity you have scheduled.

Until next time,

Happy Organizing!