This week is the first week back to work after a long and enjoyable holiday break. With a challenging year over and a new one just beginning, it’s a perfect time to reflect on the past and (hopefully) look forward to the year ahead. You’ve probably made some resolutions for the New Year, and most of us do—we make the same ones…as you can see from the “Top Ten” list:
Get organized
Lose weight
Exercise more
Quit smoking/drinking/etc.
Get out of debt/save more money
Get a better job
Try something new
Enjoy life more
Spend more time with family and friends
Help others
But, what about your company? New Year’s is a great time to capitalize on that “fresh start” feeling to invigorate your teams and business (regardless of when your annual planning sessions occur). These resolutions aren’t at all different from the “Top Ten” and should be applied the same way to make positive changes with real benefits. Just so this post isn’t huge and scroll-crazy, I’ll break down the first five and discuss the last five in a later post.
1. Get organized: You may be looking at that overflowing closet or packed garage at home, but this principle applies to employees and businesses too. Cleaning those overflowing inboxes and desktops, practicing control over mobile device addiction (e.g.: “crackberry” abuse) and managing your email/twitter/microblogging practices can significantly reduce the amount of clutter and information overload that overwhelms most employees and bogs down the system. Research firm Basex estimates that the cost of information overload in 2008 alone cost the US economy $900 billion in lost productivity. Don’t believe it? Try Basex’s Information Overload Calculator and see the effects on your company.
2. Lose weight: Holidays = indulgence for most of us. Though the average weight gain is only one pound per holiday season (whew!), most people never lose that pound. Imagine the cumulative effect over 5 or ten years. This unintentional gain can happen in business as well, especially during times of economic flux. Processes and measures that are initially implemented as stop gap measures take on a life of their own and over the course of time, many companies find themselves supporting a variety of different systems and processes that are not integrated, efficient or productive. Trim the fat—integrate systems and evaluate redundant processes.
3. Exercise more: Exercise is rewarding—you have more energy, more capacity and you just feel better. Get your business “lean and mean” for the year the same way you would train for a marathon: develop a plan for the long-term goals, break those long-term into smaller specific goals that can be measured, get a professional “trainer” (consultant, board member, network affiliate, etc.) to help with the areas that are unfamiliar, difficult or outside core capabilities; don’t rely on 1 routine but mix it up to get maximum results for each target; remember to stretch—budgets, resources, tactics and goals—to build flexibility; pace yourself because trying to accomplish too much too soon will leave you overextended and injured; and most importantly, celebrate each milestone to keep the momentum and motivate your teams through the difficult challenges.
4. Quit smoking/drinking/etc.: No matter how you slice it, a bad habit is a bad habit…and they all have consequences. Many habits aren’t even seen as “bad” because they are so rote and commonplace. Things like excessive meetings, consistent cliché throwing (how can everything be “mission-critical?”), coffee-clutching, constant IM-ing, group emails, relentless updates and posts on wikis, frequent interruptions…all cost time and productivity. Quit (or at least curtail) those habits that are draining concentration, morale, and ultimately, bottom line results.
5. Get out of debt/save more money: Now more than ever, managing cash flow is vital. Examine the cost structure of your business and operations to determine what can be eliminated or scaled back (do you really need all those publications, cool gadgets or association memberships?), negotiate more flexible or favorable payment terms with suppliers, evaluate switching to different vendors, or ramp up those cash collection activities on past-due or near term accounts—often there are many ways to conserve or save cash.
The second half of the list will be discussed in a later post. In the meantime, wishing you a Happy New Year and much success!
Izumi B.
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