Consider this small-business efficiency tip from Tom Frenier and Rex Ferguson, partners with Hickory-based Lion Consulting Group (lcg-ceo.com). They work as business advisers and mentors with small and medium-size companies to help them run more efficiently.
Review your progress monthly: One important tool often ignored by small to midsize businesses is the annual business plan. Your one-year plan should detail by month what you want to accomplish, in addition to looking ahead another year or two. These monthly goals give you a yardstick to measure your performance regularly and assure that you are dedicating your resources into the most profitable opportunities for your business. Once you do the first monthly review, your review process is set up and you can do the next one in 15 minutes – and know exactly how you are doing.
Next week: Don’t be afraid to delegate.