Here’s a small-business efficiency tip from Tom Frenier and Rex Ferguson, partners with Hickory-based Lion Consulting Group. They work as business advisers and mentors with small and medium-sized companies to help them run more efficiently.
Stop procrastinating: In school we learned that we could wait until the last minute and cram for an exam and get by with a passing grade. This idea creates significant problems in businesses when owners procrastinate. Break all big projects into segments that can be accomplished in shorter chunks of time. Don’t use distant due dates as a reason for delay. One of our medical office clients had a four-month window to renew a payment contract for its services. We helped the office turn around the contract within two weeks – allowing them to get higher reimbursement rates 90 days early.
Next week: Make a date every month to review your business.