The first step to solving your biggest frustration is to build up enough motivation to take the necessary action.
This maybe doing something you know needs to be done or calling someone in to help you.
Start by asking yourself these questions:
What impact is the issue having on the business?
What’s the opportunity cost to the business?
If this was resolved what would be the result over 10 years?
How would this affect me personally?
Think about the financial and non-financial costs, often the non-financial costs will cost more money in the long run.
For example, if you have an employee who is upsetting other people then it’s not just their lack of productivity but the lower productivity of everyone else.
If this was addressed productivity would improve and so would profits, some of which could be re-invested in the business. Over 10 years this could be worth many hundreds of thousands of pounds which would enable you to:
- Retire earlier
- Do more things in retirement
- Help your kids and grandchildren
Write down your key frustrations and work through the questions. Calculate the cost, opportunity costs and then think about the impact on you over a 10-year period.
Send me an email with your thoughts; perhaps our new business management software will help.