6 Ways To Improve Your Company’s Financial Situation

Overheard at a strategy meeting this week:

I think we can improve our company financial situations through the following ways:

  1. Make money: maximize our pricing, identify our top customers
  2. Save money: review our labour cost, negotiable with our suppliers, reduce bad debts, restructure financing, reduce work errors, track advertising investments
  3. Improve the efficiency of processes or procedures
  4. Improve the quality of our products/services, create more value
  5. Fix existing problems: do regular variance analyses
  6. Prevent future problems: prepare reliable budgets, projections and sensitivity analyses

Pretty interesting discussion/meeting…!

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