1 minute read
GET AHEAD WITH A PLAN
A look back and a look forward
By Ardell Waldner
Advertisement
The two biggest struggles I saw in 2022 for business were inflation and a lack of employees. I have seen many organizations here go from three to five employees, to one. It happened to me, too. Because of this, planning has become essential to success. I have been working with my clients to have a better plan. Here are three things to think about in 2023: time, people and money.
Watch Your Time
For some businesses, like restaurants and stores, the solution has been closing on slow days and focusing on the times when customers are ready to buy. We are no longer a seven-day a week community, so it’s time to do business accordingly. Focus on what you know best and do best and that makes money. Be careful so you’re not using your limited resources and exhausting yourself with things not meant for you.
People Matter
Another trend that keeps coming up is the use of staffing agencies and headhunters. I unfortunately have not heard of one successful story—and it is costly. Try looking for employees on LinkedIn and Facebook. It’s the new way of doing business.
MONEY, MONEY, MONEY
I am also hearing a lot about the cost of everything—fuel, inputs, construction material, food and more. One of my clients said to me “I wish someone had taught me about business and about raising your rates.” They had not raised their rates in six years and when they tried to even it out this year, they were met with resistance. It is mportant to increase your rates one to two per cent per year to keep pace with inflation. When giving out estimates, give them a time limit because costs can jump dramatically fast.
Finally, make sure you’re actually getting paid. I have had to write off thousands of dollars in years past. Be careful dealing with clients by taking deposits and interim payments etc. If you have a signed contract or proof of services rendered, it is fairly easy to file in small claims court or have a lawyer prepare a demand letter. Try not to spend a pile of money trying to collect money as it all becomes a cost. Sometimes the best remedy is to move on and spend your energy finding new work.
Waldner
