Name: Mike Taylor, CPA
Posts by Mike Taylor, CPA:
If you run a manufacturing business, then you know it’s no easy task. You may often find that the day-to-day activities become your focus. It can be hectic, time-consuming and physically and emotionally draining. These issues can take away from your ability to focus on actually growing your business. It can be a “Catch 22″ because if you aren’t building the right organizational structure, then the day-to-day activities continue to consume your time and before you know it, you’ll become like a cat chasing your tail.
Going From ‘Good to Great’
In the book Good to Great by Jim Collins, he touches on this very issue. He says, “The executives who ignited the transformations from good to great did not first figure out where to drive the bus and then get people to take it there. No, they first got the right people on the bus (and the wrong people off the bus) and then figured out where to drive it.”
Many closely-held business owners struggle to grasp this concept. In my experience, if you want to grow a successful company and have a reasonable quality of life, you must get your arms around your organizational structure. For individuals who don’t, your company probably won’t reach its potential and you may spend most of your time working in your business and not on it.
Building Your Organization May Require Tough Choices
In my career I have worked with many companies that have had a difficult time building their organization. It’s not easy and you won’t always get it right. When you get it wrong you must move swiftly to make the necessary changes. Most of us know when we have the wrong person in the wrong position, but we just procrastinate in making a change. Making the right move is critical for building an organization, even when it’s a tough choice.
Maximize your time and talents – and the time and talents of your employees. But know that it can’t be done without the right people around you. Make sure you have a solid management team surrounding you that can help you move your business in the direction you want it to go.
Author: Mike Taylor, CPA (Millersburg office)
Are you interested in reading more blog posts about managing your business? Check these ones out:
You may find that being your own boss is extremely rewarding. Starting a business from the ground up takes a lot of hard work, and you’ve been seeing the fruits of your labor. But your success doesn’t come without challenges. Business owners are facing some tough challenges these days, and you yourself may be experiencing some of these growing pains. Here’s a list of the top 5 challenges I’m seeing business owners like yourself facing in today’s economy. Do any of these resonate with you?
The 12-year employee at a city school managing adult education programs had her colleagues’ respect. But she made lavish purchases to redecorate her home and constantly gave gifts to others, and some wondered where the money was coming from. Read the rest of this entry “
Actually, yes, there is. The U.S. Department of Agriculture is offering guaranteed loans of up to 90 percent to businesses in communities with populations of less than 50,000 people. The loan program was created as part of the American Recovery and Reinvestment Act, but has not attracted as many takers as officials had hoped. Read the rest of this entry “
I was just eating a grilled chicken salad and it made me think of how each of our organizations strives to provide superior customer service. It made me wonder how many of us do, in fact, meet those expectations.
Here’s the story. We order a lot of lunches from this particular business and usually everything is fine. Today, the salad left a lot to be desired. The lettuce for the most part was almost all a day or two past its prime. The tips were all brown and some if it was slightly slimy (sound appetizing?).
I wonder how many times you inadvertently serve up brown lettuce to your customers? You don’t do it intentionally, but you probably do it. Do you sometimes give advice that’s past its prime? Are you truly on the fresh side of providing new ideas? Read the rest of this entry “
Have you ever wondered why some business people are more successful than others? It doesn’t seem to make a difference what product or service they are selling either – certain individuals just have a natural ability to make a business progresses. Our founder, Richard Rea, identified 11 common ingredients found in all successful business people. If these ingredients are included in a business, it’s hard to see how it could fail. See how you rate against them! Read the rest of this entry “