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.
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 the tight labor market, many small business owners realized the only way to manage was to make sure that their business was run in the most optimal manner.
How do you do that?
Determine what steps are taken for each task that is accomplished.
- 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.
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