Posts Tagged ‘bottom line’

Business Improvement Begins Internally

Wednesday, May 18th, 2016
Lean Six Sigma - Ohio CPA Firm

Chris Liebtag recently appeared on an episode of unsuitable on Rea Radio, a weekly podcast produced by Rea & Associates. Chris, and host Mark Van Benschoten, discuss Lean Six Sigma and why all businesses can benefit by implementing the discipline. Click here to listen to the show!

When you think about the utility of Lean Six Sigma, you are likely thinking about its usage in the manufacturing industry. But did you know that business owners across a wide range of industries can find value in Lean Six Sigma as well? The usefulness of this practice spans far beyond a manager’s ability to improve efficiency on the production room floor. In fact, this discipline has yielded significant results in a variety of businesses spanning all types industries with varying product and service offerings.

Start listening and Discover The Hidden Factory of Lean Business Building on unsuitable on Rea Radio

Why You Should Run A Lean Office

Like most businesses (if not all businesses), one of the basic tenants of Lean Six Sigma is to understand and drive client value. Using this fact as a starting point, the Lean Six Sigma discipline is then used to identify areas of improvement in your organization while implementing effective, more efficient, solutions.

Even though a manufacturing company and a doctor’s office appear to be fundamentally different, both organizations can find significant value through the implementation of Lean Six Sigma because they share the same basic tenant – to understand and drive client value. From a healthcare perspective we know that patients value shorter wait times and improved professional interaction. Using Lean Six Sigma, we would review the office’s processes and determine how to make them more effective in the interest of driving client value. One solution might be to improve the general organization of the office. Doing so could feasibly result in greater efficiency among the staff, shorter wait times and longer, more meaningful interactions with patients.

This same scenario can play out in all offices where client value is considered a priority.

Better Quality Begins At The Beginning

When you have two people doing the same job without any formal processes, they’re bound to produce different results. Unfortunately, lack of consistency negatively impacts the company’s overall ability to produce quality products and/or services.

Companies and organizations that implement Lean Six Sigma, go through the exercise of deconstructing organizational processes to determine best practices, implement changes and establish quality control measures throughout every step of the process – not just at the end. Making quality a priority early in the process will consistently produce higher quality products and services.

Just Getting Started

Obviously we are just scratching the service of what Lean Six Sigma can do. I recently had the opportunity to talk about the effectiveness of Lean Six Sigma on an episode of unsuitable on Rea Radio with Mark Van Benschoten where I was able to talk a little more about the practice. You can go to www.reacpa.com/podcast or click the play button on the media player below to listen to our conversation. You can also email Rea & Associates if you have questions this topic.

By Chris Liebtag, LSSBB, PMP (Dublin office)

Check out these articles for even more tips to help you move the needle:

Your Business Could Be Doing Better

Turning The Tables On Ourselves: How We Used Lean Six Sigma

Gaining Efficiencies In Service With Lean Six Sigma

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Last Minute Tax Tips, Financial Stress and Cybercriminals …

Monday, May 2nd, 2016

April’s Top Posts Had Readers On Edge

So our month was pretty intense … how was yours? The good news is that we made it through another tax season, the bad news is that business owners are clearly still on high alert due to continuous influx of hacker activity. Take a look at our top five blog posts in April for some useful tips and insight you can use all year long.

Top 5 Blog Posts For Business Owners In April

  1. Can A Cybercriminal Crack Your Company’s Network? Small and midsize businesses are not immune to becoming the target of a crippling cyberattack and without the proper procedures in place business owners risk the very real threat of a large-scale assault on their company’s data. Would you be able to recover if your organization was attacked?
  2. How Flexible Is Your Company’s Management Style? Never before has the American business owner had to manage a workforce consisting of employees whose ages span five generations. And because each generation is unique, your company’s leadership team is left with the impossible task of adopting a management style to accommodate an incredibly diverse workforce. Keeping reading to learn more.
  3. What Tax Liabilities Accompany Inherited Real Estate? So you just inherited some real estate. You’re probably now wondering – is this a blessing or a curse? From the tax perspective, of course. And that’s a good question to ask. Just because you inherit something doesn’t mean that you’re free and clear of any potential tax liabilities. Depending on how you use the property and if you sell it will determine if you have a taxable situation. So here’s what you should know about taxes and inherited real estate. Read on to learn more.
  4. Increased Financial Stress Hurts Your Company’s Bottom Line Earlier this month, in a proclamation that reiterated the importance of equipping everybody with the “knowledge and protections necessary to secure a stable financial future for themselves and their families,” President Obama declared April to be National Financial Capability Month. While the timing of the proclamation makes this a great time to raise general awareness about the importance of financial fitness, businesses have a great opportunity to educate their employees about the importance of financial wellness all year long.
  5. How Can You Track Use Tax in QuickBooks? Now that you have filed for use tax amnesty and are all set up with an account, how are you going to track it daily going forward? If you use QuickBooks, the answer is as simple as 1-2-3.

April was great, but we are excited to see what May brings. More tips for business success? More financial news and updates? Personal finance advice? Of course! Stay tuned.

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