Recently, I read an excellent quote from author Joshua Becker in his book Things That Matter, which stated:
“If we wait to be healthy, perfect, and prepared in every way, we’ll never accomplish anything. Everything valuable that has ever been done was done by someone with flaws and wounds.”
So, having read this, what’s the message? Do it now. In my last blog, I discussed what to do if you are feeling stressed about inflation and its impact on so many rising costs, and who isn’t worried about these challenges?
What action steps can we take, starting today? As I explained in my prior blog, let’s begin with controllable items. Recently, I had a Client who suggested that everything is so high right now, he can’t do anything… Really? I quickly pointed out that there was one guy in his operation who was essentially contributing nothing. “Yes, but if I tick him off (by suggesting that he work…?), he might leave.” And, I asked, how would that be a loss? If he isn’t contributing anything, wouldn’t we at least be saving his salary in the budget?
What can we control? Fixed interest rates? I’ve been cautioning Clients to start locking in long term rates for over a year. Fuel costs? We can’t completely control the cost per gallon, but if the price is continuing to rise this summer and you know you’ll need fuel for this year’s cropping program, why not “pre-buy” it now? Can you contract some other costs? This may result in thinner margins, but isn’t that better than negative margins? Remember, we cannot always hit a “home run,” but singles win games, too.
As I explained previously, we need to measure all items, simply because if you measure something, you can understand it. If you understand it, you can begin to control it, and if you control it, you can improve it! This process can also assist you to plan for long term capital expenditures, especially if they can further improve your efficiencies and cash flow results. The real question is – Why Wait? Do it now, and as I suggested previously, what will happen?
You will likely find new solutions, refine your processes and make further improvement. What then? Let’s celebrate at the finish line!
Let’s take your business to the Next Level!