13,000 laid off, 10,000 laid off, 5,000 laid off – we’ve heard it numerous times in the last few years. Will it ever stop? I doubt it. Big business seems to manage their bottom line by lay off and cutting heads is a quick way to do it.
In your small business, you can’t afford to manage your bottom line by adding staff one month and letting them go the next. The training costs alone would drive you out of business.
During a tight labor market, the only way to manage your small business when you’re short on staff is to make sure your business is run in the most optimal manner.
How do you do that?
Start by taking a look at your business tasks. Determine what steps are taken for each task that is accomplished, then ask these questions to determine how to tighten up.
- Are there places that improvements can be made?
- Can steps be eliminated and still produce the same outcome?
- Are things being done “just because” they’ve always been done that way? Get rid of them!
Think twice before you upsize and downsize your small business.
Managing the fat of your business will get you closer to profitability and improve your cash flow too.
About Denise O'Berry
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