Freedom Blog

Thursday, March 8, 2012

25 Mistakes To Avoid-#5,6

Reboot! | The Freedom Blog

25 Mistakes To Avoid-#5,6

Written by Steven Griggs |

Excerpted from my coming book: “REBOOT! How to Restructure Your Business to Survive and Thrive in Today’s New Economy”

5. Failing to Follow the Money:                                                                      

Does it make any sense to work so hard creating and marketing products or services, only to have the fruit of your labors stolen?

Controlling access to the money is crucial. Make sure you have programs and a system of checks and balances in place to control access to funds, products and supplies.

Remember, you must have clear processes in place to address inventory, supplies, vehicles, fuel, time cards, etc.  Make these processes and procedures part of your written company policy.

Make sure your policy towards employee dishonesty is spelled out clearly. Be clear that no one is above prosecution and that you will prosecute theft to the maximum extent of the law.

6.     Doing it All:

Are you working in your business or on your business? You need to really be clear about this.  Failing to delegate is perhaps one of the most under rated dangers to the small business owner.

Even if you think you are capable of doing everything, resist the temptation.  Even if you are on a tight budget and think you should do so to save money, don’t! 

Delegate and pay someone else to do it.

Automate your systems. Get into the mindset of delegating everything you possibly can.

You can never build the business if you are burnt out from the day to day stress of personally solving every problem, completing every task, making every sale….. it never ends.

Make sure the details are taken care of, but focus your attention and energies like a laser on the bigger picture- where the company is going, your customers, and your next big product launch.

TIP: Keep yourself above the fray and your eyes on the prize.