3 Critical Indicators you should search for in your Financial Statement Analysis

Are your financial reports giving you the information you need?

In order for your financial information to be as valuable as possible, it is important to make proper use of the information they generate.  Simply producing reports on a monthly basis is not enough. The tools you use to analyze and monitor these reports can give you a read on financial “vital signs”, gauge your progress towards financial goals and identify problems within your business.

Financial Statements determine your growth potential

 

Mark Wardell's Top 10 Tips for Finding and Hiring Great People

1. Share your dreams with your employees

World-class people are attracted to world-class opportunities. As an employer, you need to share your plans for the future with new (and existing) employees regularly. By inviting your whole team to take part in building your company with you, you create a motivating environment which is exactly the type of place great people chose to work.

2. Find great people by asking your best employees who they know

It’s a universal principal that “like attracts like”, so your best employees are likely to know other people with similar qualities to them. Ask them to help you build a world-class team. Some companies even offer incentives to their employees to facilitate this process.

3. Ask your suppliers who they know

Your suppliers likely have an inside edge to some great future employees. Ask them if they know the type of person you are looking to add to your team. As you have a business relationship with your suppliers, they are likely to be discriminating with any referrals they make.

How to use job specification to boost employee productivity

The key to creating jobs that have high job satisfaction and motivate employees is striking a balance between specialization and flexibility. As working environments transitioned from single production cottage industries to standardized mass production, repetitive tasks requiring very little involvement became a symbol of the unsatisfied employee. By creating more dynamic roles that incorporate elements of specialization but with enough flexibility to make jobs interesting. Let’s start by looking more closely at specialization and flexibility.

Specialization:  One worker performs one specific task or narrow group of tasks as part of a large production system. In general, a specialized working environment promotes:

4 Useful Tips for Greater Business System Efficiency

When you think of your business as a system, you can see that it is a collection of activities working towards a common goal, an organization of individual elements working as a unit. The effectiveness of your business is measured outcome of these activities.

Each system within your business needs to have a purpose

Systems will run most effectively when they align with the achievement of your Strategic Objective. You can more successfully meet your goals when you seek to continuously improve the efficiency or productivity of your systems.  If you can reduce or eliminate problems, your system will automatically improve.

Start with accurate business systems information

How do you know your systems are working? What information is currently monitored in your business and how accessible are the results? Information is the central nervous system of your business. It provides feedback on nearly every aspect of your business, it can show whether you are actually making progress or it just seems that way. Effective business leaders use organized accessible information to make intelligent, independent and immediate decisions.

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“Wardell has helped me systemize my business so I can travel with my family often and live the life I’ve always dreamed of.”

— Brad Haima, Founder, Circle Graphics

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