Posts Tagged ‘efficiency’

5 Reasons to Get Help with QuickBooks

I remember the first time I heard someone say, “I don’t need an accountant. I have an accounting system to do that.” Yeah, right. Today, that statement is often heard as, “I don’t need an accountant. I have QuickBooks.” Here are 5 reasons why that just might be a mistaken assumption and you should consider help with QuickBooks.

Knowledge

The knowledge I am referring to is not just about QuickBooks, though it certainly helps if someone has familiarity with it. I’m also talking about a strong understanding of good accounting practices. For example, I had a client Read the rest of this entry »

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80/20 Rule for Receivables Management

Perhaps you’ve heard of the Pareto Principle that is better known as the 80/20 rule. Simply stated, it says that for many events roughly 80% of the effects come from 20% of the causes.

Some Examples

A school may find that 20% of their students create 80% of their problems, while another 20% achieve 80% of their positive results. It’s true in other organizations. In churches, 80% of the volunteer work often is done by 20% of the membership. Though the actual percentages may vary slightly, it still is fundamentally accurate much of the time, sad as that may be. If you own a business, look carefully to see who is accomplishing the work. Again, you may find that Read the rest of this entry »

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Triage for Business Issues

We’ve all been there. It seems like the issues we are facing are overwhelming. We just cannot decide what to do next. How do others handle this?

The Concept of Triage

You’re probably somewhat familiar with the concept of triage in the medical field. In the event of a major disaster medical personnel must divide casualties into groups. Basically those groups determine who gets treatment and in what order. In a sense it seems unfair, but without it many might die who had an excellent chance of recovery.

How this Relates to Business

In business the issues and decisions facing us daily can overwhelm us if we lack Read the rest of this entry »

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The Over 40 Hour Myth

In a recent blog, When 40 Hours is Enough, I discussed how ineffective and unproductive people become as they routinely work over 40 hours in a week. While I have no illusions that hardcore workaholics will change their ways, I am hopeful that business owners and managers will see the light. But, the truth is that it is a myth to believe that regularly working over 40 hours per week adds significant value.

It’s about Efficiency

If you read my previous post you may recall Read the rest of this entry »

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