CASH

You, if you are like most business managers and owners, have allowed a very unpleasant event to happen to you: Your cash position is managing you (i.e. dictating your actions) instead of you managing your cash. Cash has become an emotion, rather than a thing.

How do you regain control of your cash (finances) and of your life?

Truly, control of cash is not difficult. There are a variety of tools and techniques which, implemented progressively or concurrently, will provide you effective and efficient cash management. It may take some time to achieve total control over your cash, depending upon how out-of-control it is now (e.g. managing out of your checkbook), but it can be done.

The point of departure toward controlling cash is critical: You must understand and appreciate cash (money, funding) for what it is. Cash is an asset. It is an asset you convert – you convert it into raw materials which, by converting more cash into labor, you convert into your product or service and, through a sale, you convert back into cash. Preferably, the final conversion – back to cash – yields more than you had to deploy; in other words a profit. The point here is that cash is no more, or no less, important than any of your other assets. So, the first step toward control is to view cash for what it is; just another asset and not an omnipotent, all-controlling, item to worship.

So, when you remove the emotional element from your consideration of (feelings for) cash you will begin to be able to manage it objectively. I have worked with owners who are into cash denial; they do not wish to look at Accounts Payable because they are so behind. Others pay invoices immediately upon receipt; stating an assumed moral obligation to do so. Neither of these actions represents management of the cash asset. I can help you reach the best decision for you concerning cash management. Register for a non-obligatory initial discussion about how business coaching can benefit your business.

PRODUCTIVITY

Productivity and the lack of it is an issue for almost every business; regardless of size or Industry. It is an accepted topic of conversation … and something about which business owners and managers can commiserate.

The overarching problem about productivity is: What is it? More specifically, how can it be stated? Whenever I ask clients how they feel about productivity, I hear: “Not good enough”, “Should be better”, “Everyone just seems to be coasting” … and, occasionally, in an attempt to appear scientific, someone says “about 75%”. These are totally meaningless responses. (Do you need help in defining and improving productivity? I can coach you, as your business coach or life coach, toward extraordinary gains in productivity…for your business and/or yourself.)

There is an axiom in management: If you cannot measure it, you cannot manage it”. So how can you measure productivity? There are a variety of ways and I shall provide you with one, the most basic one, here. Now, just because I state “basic” do not discount it; you will find this measurement in the Annual Reports of most of the Fortune 500 Companies and Stock Market Analyses. The measurement is Gross Sales per Employee.

Formula : Gross Sales divided by Total Headcount equals Sales per Employee.

Gross Sales means exactly that; Gross Sales (not Net, not adjusted). Total Headcount is the number of people employed, in any manner, during the period considered. Count everyone: If you have a part-time Maintenance Person, count him/her as one-half (or what percentage of time worked), if you have a relative “helping out” – even on a non-pay basis - count him or her too.

Finally, there is the time period. This formula may be used for any time period; a month, a quarter or a year (or whatever you select). The value of the calculation is in the trend analysis. Look at the period to period comparison. You may find that you are so pleased sales are up that you have overlooked an increase in employees … and that sales yield per employee is down. Thus, having a basic measurement such as this enables you to ask the critical question: Why?

Recommendation : Measure / Investigate / Affect Change / Measure / Investigate … your company shall benefit from you knowing a true measure of Productivity.

There are other, more sophisticated, measurements of productivity and many of them will be presented in my newsletter, Fortnightly Fast-Track. Consider, too, the one-on-one business coaching and mentoring as a means of rapidly gaining insight on keeping you and your company moving forward. Register now and begin moving forward toward increased productivity.

QUALITY of LIFE / STRESS:

Most people, just like you, begin working so they may enjoy the life they live and then, over time, they discover they are living to work. Has this transition happen to you? Maybe you haven’t realized this change has occurred. When you reach the point where you want to only work to live, instead of only living to work, and you could use help achieving this, a business coach and a life coach can assist you.

What about the quality of your life; whether you have a job, are on a career track or own a business? Did you trap yourself by believing that “standard of living” and “quality of life” are synonymous … and now realize they are not? Has the vision you created for your life, early on, become an illusion? I can help your in your quest for defining what you really want in your life, your career, your business, your relationships and assist you in moving forward toward outcomes you really really want. I am a business coach, personal coach and life coach; together we can create the life you want. Register now and we can have a brief conversation so you may determine how coaching will focus and support you in creating the outcomes to goals you want.

Do you have stress in your life? Great that means you are alive! Everyone experiences stress; it is how you cope with the stress defines the quality of your life. Generally stress is created because of a dichotomy between what you want and what you have been influenced to want by others. When you strip away the external influences and begin actualizing your wants, you experience as stress-reduced, pleasant and pleasurable life. Get help in living the life that can be yours; get a coach – any coach – and I may be the one that interacts best with you. Register Now!