SoKy Local Business or "SoKybiz"

Starting the New Year off right!

I probably should have wrote this last month as I was preparing for the new year, but I didn’t and now I am. There are a few things I’m doing this week to try to make 2008 a little safer, a little more organized and a lot more profitable. Here are a few things I’m looking at very closely this week...

#1 - The business plan! I’m reading through it and seeing where I’m at. Are my predictions on track? Are there changes that need to be made in my operational, accounting or marketing strategies? Are there any new or unexpected influences on my forecasts that need to be addressed? For all three of my companies the answers are no, yes-yes-yes, and yes.

Taking a quick look at the plan and forecasts, I can see areas that need to be adjusted, revised or completely abandoned. Many things about my business are different and the start of the fiscal year is a great time to make the necessary changes.

#2 - Financial management. Another thing I’m looking at is my financial management. Not just my bank accounts or accounting methods, but also my accounts payable and receivable process. I’m looking for the things that need to be addressed that will improve my cash management with the intent to improve my cash flow. As I prepare to meet my tax guy, I will also be taking a very close look at where I spent my money in 2007 and look for ways to save in 2008.

#3 – Technology. I have been doing a technology review for the past 8 weeks actually and frankly, this is something that should be constantly monitored and reviewed for security reasons. I am fortunate to have the experience and training to do this myself, but for those who do not, I would recommend a consultation with a professional. (Write for recommendation) What I am looking at is everything from the software I’m using to the computers I’m using them on. Here is a short (incomplete) list of the biggies...

1. Check every single computer in the office for current patches to the software installed. Windows and Mac do have an automatic mode but even still, I take the time to click the update now link just to see the results for myself. I also open all software that is installed (used) and see if there are patches, updates or upgrades that are needed for security. There are some software packages available to do this (Check with Yahoo), but I just take the time. For me, this is a monthly process but for many, it is one of those things that are pushed aside.
2. Update the virus scanning software. Make sure it is the latest version and it has the latest updates from the vendor. Here is an interesting tidbit. Even if you have the software installed, updated and scheduled properly, if your employee turns off their computer at night or clicks out of the scanning process to speed up the computer, you may be at risk. I suggest that business owners go to each machine, update the software and then run it manually to be sure.
3. Update (or install) a Spyware package. I have found that Spyware is more prevalent than viruses, at least in 2007. I use a free program called SpyBot. There are many to chose from and your antivirus program may already include it. My opinion is that small business people should make the effort to ensure the anti-spyware software is installed, updated and operating properly to protect themselves and their client information.
4. Overall condition of the computer. Maybe this should have been first, but if the computer is more than 3 years old, you should make sure it has enough power to be productive. Case in point, I have a wonderful hard working research assistant who knows little about computers. She would mention that the computer is slow once in a while but for the most part she just kept on working. I had to do some work on her computer and I could not believe how antiquated it was. I purchased her a new PC with the latest minimum requirements for CPU speed and RAM installed and she not only became much more productive, but much much happier overall. Which is good because she is also my wife and when she’s happy... everyone is happy. (grin)

There are many more things that I am looking at but this should get you started. One thing to note, you may not be able to fix everything all at once. To speed things up, just make a list of your discoveries as well as a checklist of sorts of the things that need to be done. Then, when you have time you can tick off the list one by one. Even if you don’t have a business plan to review, add that to your list and start building it. Doing so will allow you to take some measurements and discoveries next year at this time.

This was posted by SoKy : 5:01 AM