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No Pain, No ChangeNo Pain, No ChangeImplementing changes, even when they're good for your business, can be tough. As the old adage goes, old habits die hard and it's just as true in business as it is in our personal lives. It's simply easier to take the path of no resistance and revert back to doing what we've always done. Here's a way to skyrocket your profit potential by linking change to pain and payoff. Whenever I sit with a client who has hired me to assess and identify ways to streamline their business operations, we eventually get around to what I call the "no pain, no change" discussion. I can present a neatly packaged assessment report with recommendations for increasing efficiencies or streamlining processes, but new efficiencies and streamlining requires change. And, change typically meets with resistance because the way of doing things has become habitual. As the old adage goes, old habits die hard. It happens just as frequently in one-person operations as it does in businesses with 10s, 100s, or even 1,000s of employees. It's just easier to take the path of least resistance by doing what we have always done. And, until you realize how 'doing what you've always done' dramatically affects your bottom line, change is less likely to occur. For any change in behavior, procedure or practice, there must be a desire for it - the benefits of change must become more attractive than the comfort of keeping old habits. So how can a desire for change be ignited? That's where the "no pain, no change" discussion starts. Quite simply, I relate the recommendations I make to actual bottom-line benefits. Let me demonstrate by using a real-life client example. In a business assessment I did last year for a property management company, processing tenant payments was a four-step process from the moment the payment arrived, to the final posting and deposit of the funds. The company had two co-owners and four employees. Three of the four employees were involved in the payment processing procedure. Now, this may sound like no big deal to you, but keep in mind that, as a property management company, they receive several hundreds of payments from tenants nearly every week for all of the properties they manage. There are many days when no other work is tended to, and they clock overtime to process checks the same day they are received; and then they clock more overtime to catch up on the work that was cast to the side. The more property contracts the business acquires, the more time it takes to process payments. The more time it takes, the more man hours are clocked. The more man hours needed, the less efficient - and more costly - the process becomes. After talking with employees to understand the process they were using, and listening to the frustrations they were experiencing, it quickly became evident that the current procedure had lost significant value. What used to work perfectly had now become not only more vulnerable to errors, but costly. And, with the business continuing to grow, this was not a short-term challenge. With minimal investigation I discovered that the process could be shortened to two steps, performed by two employees, with one simple solution -- an upgrade of the property management software they were using. Naturally, the software upgrade was prominently placed in my assessment and recommendations report. I knew, however, that the owners would view this as an expense that would cost them more than $2,000 and, therefore would not likely top their To-Do list. Time for the "no pain, no change" discussion. In addition to recommending the software upgrade, I detailed a conservative estimation of the current 'real' costs associated with this procedure that primarily consisted of overtime and error reconciliation. I then detailed the estimated resulting costs associated with implementing the upgrade. The difference? A savings of nearly $7,500 a year! That's a significant profit leak for a small, 6-person operation. Do you think the owners were more motivated to change the habit that currently supports the $7,500 profit-draining leak? You bet they were! Suddenly, it was evident that the $2,000 software upgrade was an investment, not an expense. It carries measurable ROI. Because the client could now see an immediate (financial) pain, there was an increase in desire for immediate (procedural) change. Every critical process of your own business should be looked at with this same "no pain, no change" assessment. What is it really costing you to do what you've always done? Identify the pain, and you'll increase desire for change. About the author: Susan Carter is a small business consultant and author of business-building books that help small business owners and soloprofessionals ‘do more with less.' Free book chapters and ezine at: http://www.successideas.com Circulated by Article Emporium Investment Property Part I: How Not to Become a Slumlord Welcome to the first part of a two part series about getting into the investment property business. After riding the ups and downs of the stock roller coaster for a while, an increasing number of investors are looking into property investment as a more stable alternative... 8-Reasons MLM Distributors Fail There dozens of reasons why any one individual might not be successful with his/her network marketing business... or any other business for that matter. Here are a few that I can think of right off the top of my head: NOT TREATING IT LIKE A BUSINESS... Stop Your Employee From Becoming Your Competitor You know the routine. You've hired an eager individual willing to come onboard and learn the business. You've taught them, trained them, worked hand in hand and side by side for 2 solid years. Then all of a sudden your employee quits for no apparent reason. To your disbel... Internet Scam Alert Save your money! Watch out for internet scams! There are a million scams lurking around on the internet. I sure hope you've never been the victim of one, but chances are you've probably noticed a least one scam. A lot of these scams can be luring and tempting and can easil... There's a Thief on Your Campus What would happen if your laptop computer were stolen? What would this cost you in time, money and frustration let alone loss of your confidential information such as you social security number, bank accounts, or passwords? Don't think it can't happen to you. It happens on campuses... Accounts Payable, How Does Your Business Get It Done? 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Protect Your Business by Performing a Background Check The success of a business endeavor involves a concerted efforts of financing, strategic planning, product design or service positioning, marketing, sales, and customer support. One of most important aspects of doing business is the people you deal with everyday - your employees, y... How To Boost Your Bottom Line With Just Two Little Words I hate to sound like one of those cheesy get-rich-quick commercials, but this week I am going to let you in on a little secret that is so powerful that it will immediately change the way you do business. In fact, this little secret is so powerful that you will be amazed at... Specialty Gases and Equipment The Scott Specialty Gases website is a valuable resource for technical and safety information including an online MSDS Library and comprehensive downloadable Design and Safety handbook. About the author: Scott Specialty Gases is an international ... No Pain, No Change No Pain, No Change Implementing changes, even when they're good for your business, can be tough. As the old adage goes, old habits die hard and it's just as true in business as it is in our personal lives. It's simply easier to take the path of no resistance and revert bac... Position Position Position – The secret to success online. When you saw this heading you possibly thought of real estate or search engine placement. While this is very applicable to these two systems I want to take you a little deeper into the concept of positioning yourself for success online. Position is really a life s... Renting a House Renting a house or a room in your home is a great business that millions of people take advantage of to make some extra cash. While many people rent houses each year, not all of them are successful. Renting a house can be profitable and rewarding if you manage it properly. <... Why eBay? Start Your Home Business Here If you have a desire to be home based, eBay really is the ultimate new-start opportunity. I know of no other business format where you can put something up for sale to millions of people without having to invest in a shop, advertising or a web site: and sell it and be pai...
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