If you are a gardener, it’s all about the Chelsea Chop this week. The premise is that if you prune or cut back plants now you’ll get a better crop of flowers, just a little bit later. I do it every year, and it works!
What also works very well is a small cut at your business too. Prune out the dead wood; the under performers (staff and customers) and make room for your star flowers to really blossom.
But what do you cut and by how much? Let’s deal with ‘the what’ first.
How much should you cut? Enough to make a difference. My suggestion is to cut little and often just as if you were losing weight. Forget trying to lose a stone in 2 months; better to focus on losing a pound or 2 every week. The same is true of cutting in your business.
Related Article: The Ultimate Guide to Marginal Gains and the 1% Principle
Marginal improvements soon become big gains if you keep focusing on them. Not convinced? Then target yourself to achieve a 1% reduction on all expenses for the next month – I know that’s easy to achieve and I also know that you’ll do even better than that! Don’t ignore the radical cut either; sometimes a hard prune back to the ground is what your business really needs.
Now the economy is better, it’s easier to let your foot slip off the pedal. Don’t. Your job as the business leader is to continually refine and improve everything so the business runs like clockwork, delivering maximum profit for least effort.
Get the shears out now, just be careful where you cut!
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