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Profit Planning

3/25/2017

Profit planning wasn’t a concept I was familiar with. I distinctly remember our first profit and not knowing what to do with it. I didn't have a plan. I didn't even know I needed one. That’s probably one of the best problems to have. I don’t remember what I decided to do, but I know that was the start of many efforts to come to grips with profit planning in case the miracle happened again. I can’t claim to be an expert on the topic of ’Profit Planning’, but here are my thoughts.

Building Value With Unique Methods

3/20/2017

Unique Methods is a concept that I learned from The Strategic Coach, Dan Sullivan. Everyone has processes that are unique to them. No two people go about design exactly the same, for instance. There are three main benefits to identifying your unique methods.

Once a process is on paper, it can be delegated or taught, freeing you to do other things or getting help doing this thing.
The exercise of documenting your process often leads to improvements in the process.
The more of your processes that you can standardize, the less time is spent re-inventing the wheel on each project.

Taken together these three benefits add value to your firm by making your successes repeatable on every project.

Daily Timesheets

3/12/2017

How often do you complete your timesheet?

I personally have used twice-monthly, weekly, and daily timesheets. You are probably different than me; but when I filled out my timesheet it usually went something like this ...

Bookkeeping Or Business Development

3/5/2017

Which would you rather have? Spectacularly detailed accounting records or a stream of desirable projects?

Which do you spend more hours per month developing?

Which adds more value?

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