Originally posted on 6/19/2019

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Publiched 7/3/18 

Many business owners rue the 15th of March because it is the business tax filing deadline which some enjoy as much as Caesar’s day in the Senate. Preparing your taxes can be an unwelcome task but also can be an opportunity to take stock in your company. You have just spent time looking at your prior year’s profits and expenses for tax purposes, why not review them from a business perspective. • Are my margins and expenses in line for my industry? • What are the trends between last year, over the last 5 years? • Could we be doing better and where? • How difficult was it to gather the needed information? Of course, these are questions should be asked at least quarterly, but many are too busy with the day to day tasks to stop and take stock. So, as you file your taxes, take some time to reflect on the past year and identify 5 issues that you would like to address. Next set an appointment with yourself to better define those issues and create specific objectives and develop a plan to achieve them. Unlike Caesar, you will come out of the Ides of March the better for it.

One bite at a time. A business looking to improve its processes is often overwhelmed by the task even if the change is urgently required. Like eating an elephant, it is best to breakdown the project into bite size tasks, select and pilot process with a high chance of success and use a team work approach. The Kaizen methodology is a common tool used in process improvement. Kaizen is from the Japanese symbols for Change and Good and is interpreted as change for the better. The methodology was developed based on Deming’s Plan, Do, Check, Act cycle and is a team approach to making improvement. Kaizen has 5 primary elements - Team work – a great benefits from forming a team to achieve a common goal - Quality circles – an opportunity to share knowledge and ideas - Improve Morale – motivate with benefits and create a sense of belonging - Personal discipline – manage your time wisely and deliver above expectations - Suggestion for improvement – welcome and consider all suggestions from all The methodology is as follows ➝ Select a target process ➝ create a team ➝ set project goals ➝ map and analyze the current state ➝ create possible improvements ➝ implement ➝ check the results ➝ standardize the process. The method is usually done as a Kaizen Event which Is a focused “assault” on an area or process to achieve rapid improvement. The event uses a cross-functional team with process insiders and outsider SME as required. The goal is to achieve as many improvements as possible during a typical 3-5 day event. It is a good way to introduce the method into a new organization. In later posts we will discuss how to select the best teams and targets for improvements.

The new season is a great reason to make and keep resolutions. Whether it’s eating right or cleaning out the garage, here are some tips for making and keeping resolutions.