Spring Clean Your Business
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One of the best ways to give your future the maximum opportunity to be successful is to make sure each new year begins with as little baggage from the past as possible. So, what grandmother used to do after a long winter, businesses need to do in December. Instead of spring cleaning, let’s do some December baggage elimination. Here are a few places to start. Eliminate stuff: Even if you’re not a pack rat like me, you’ve accumulated stuff you don’t use anymore. If you’re not using it, sell it, give it away, or throw it away.
Digital graveyard: Don’t say you don’t have one. Whether it’s an old PC, monitor or printer – even if it isn’t broken – if it hasn’t been used recently it’s occupying valuable space. Sell it or call a computer recycling company.
ABCDs of customers: Segregate customers into four groups, from the most profitable As to the least profitable Ds. Worship the As, cater to the Bs, encourage the Cs and teach the Ds about self-service. Customers who demand more commitment from you than they’re willing to reciprocate should be allowed to join your unproductive employees elsewhere.
ABCDs of inventory: As with customers, categorize inventory from the most profitable As to the least profitable Ds. Stock lots of As, some of the Bs, maybe a couple of the Cs, but never let a D spend one night under your roof unless it’s paid for. Remember, profitable inventory management means just-in-time, not just-in-case.
Scrub accounts receivable: Take the hit, and write off uncollectable A/R this year so you can start January with a clean list. A/R write-offs that are later collected become gravy for the new year, otherwise they’re tax deductions this year.
Each new year deserves to have the maximum opportunity to be successful, which means it shouldn’t be saddled with the baggage of last year’s obsolescence and bad decisions. By taking these steps you’ll be proving to yourself – and your banker – that you have the discipline to make critical decisions for which successful managers are known.
~Jim Blasingame
Creator and host of the Small Business Advocate Show
Fun Facts:
- There are over 100 varities of poinsettias available. $220 million worth are sold during the holiday season.
- The first Nobel Prize was awarded in December 1901
- Chanukah is referred to as the Festival of Lights and begins four days before the new moon.
Upcoming Events:
- December 7: National Pearl Harbor Remembrance Day
- December 25: Christmas
- December 26: Kwanzaa
- December 31: New Year’s Eve
Tenant Spotlight:
This month we would like to highlight Highland Financial Royal Alliance (office #110/113). Gloria Jeffries and Vic Bills joined us here at Pyxis Suites in October. They are a financial advisory firm who manages eight independent advisories in the Utah area. We are so glad to have them with us!
What’s New at Pyxis:
Don’t forget ot take a look at what is new on our website, www.pyxissuites.com. Events can now be posted on our website! This allows the public and other members to view and attend any upcoming events you may have. Please contact the front desk for further details.
Service Highlight:
Did you know that Pyxis Suites offers more than just office space? Here are some of the other services we offer:
- Florist
- Office Supplies
- Digital Advertising
- Call Screening
- Car Detailing
- Travel Arrangements
- Registered Agent
- Additional Janitorial
- Weekly Dry Cleaning
- Catering
Business Sense:
“It is a fair, even-handed, noble adjustment of things, that while there is infection in disease and sorrow, there is nothing in the world so irresistibly contagious as laughter and good-humor.”
Charles Dickens, Christmas Carol
