Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Despite what many think, running a business is not all fun and games. There are aspects of it that have to be closely watched. The following contributed post is entitled, Running A Tight Ship Will Get You Everywhere In Business.
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Have you ever heard of the expression ‘running a tight ship’? We’re sure that you have as it is a very common saying, and what it means is that you are managing it well. Things get done when they are supposed to be done, people don’t question you when you tell them to do something and so much more. Running a tight ship will get you everywhere in business, rather than letting everyone loose to do their own thing. In this article, we’re going to be taking a look at some of the things that you can do to run a tight ship, so keep reading down below if you would like to find out more.
Always Know What’s Going On
You should always know what is going on in every area of your business. You should have your fingers in all of the pies so to speak, because if something goes wrong, you need to know where and why. You can only do this if you have an understanding of what has been happening up until this point in some capacity. Who knows, you may even be able to shut down a disaster in the making before it gets this far if you know what’s going on.
This is especially important if you are a fleet owner. You need to know where your vehicles are, what they are doing, and all other important information pertaining to the success of the job.
Random Performance Reviews
If you want to run a tight ship and ensure that everyone is always going what they should be, you should announce random performance reviews. If nobody knows when they are going to be called in for a review, then they should always be working hard. Studies have shown in the past that if someone feel as though they are constantly being watched, whether they are or not, they are always going to behave as if they are. In this case, it means they will perform better and provide the business results that you need.
Sticking To Your Budget
When you set a budget, you didn’t do this for fun. You did it because your business needs to stick to some kind of budget in order to continue to be viable on the market. As such, your department heads need to be submitting you with what the money has been spent on, and any overspending has to be approved by you prior to ordering. This will help to keep the budget firmly in place.
Hopefully, you have found this article helpful, and now see some of the things that you should be doing to run a tight ship when it comes to your business. It’s important that you know what is going on in your business at all times, and that you are aware of all the things you need to be in order for your business to be a success. We wish you the very best of luck, and hope that you end up seeing success in your business.
