Measurement

Dr S Manaharo tested opening his practice different hours. In the first week alone, revenues were up $2,000. What hours are you open? Could you test other hours?

Measure key performance indicators in all areas of the company. You cannot manage what you do not measure. Make sure everyone measures their KPI's.

Work with an external accountant for tax planning. A good accountant will never cost you money, they'll save it for you, make sure you're working with someone good.

Complete weekly bank reconcilliation. Know that you're on track with your accounting and that the bank's doing a good job.

Have a daily banking system. Get your money into the bank with 100% accuracy, as soon as possible.

Have a system for payroll and superannuation. It shouldn't take you long at all if you're following a simple and easy to use system. Or, even outsource this function.

Record the number of transactions for each customer. If they're coming back then it's a great thing to know, measure and reward.

Complete a purchasing system for all interanal purchases. Don't let anyone spend money until they've got an authorised purchase order, create a simple system for this.

Complete and keep to monthly and yearly budgets, including a cashflow forecast.

Measure your average sale value for every team member. Know who's making the money and who needs the training.