✦ The 1% improvement advice
I know what you’re thinking. It’s either:
Clarkie is crazy
Clarkie is speaking through his hat
All of the above
... and I don’t blame you!
However, just over a year ago I attended a business improvement workshop. The speaker, Sharon, said you can improve your business dramatically by making a 1% improvement each day for a year. In fact Sharon said if you do that each day then your business will be 37 times better after a year.
I went to school in pre-calculator days, so there was no way I was going to try and calculate this manually. Fortunately we now have spreadsheets. I love spreadsheets. Spreadsheets are amazing.
So I worked out the formula. I thought yes there will be improvement but no way will it be 37 times by a 1% improvement each day for 365 days.
So I calculated the formula:
Improvement = (1+0.01)365 -1 where 1 is the business when you start the process, and the business is improved 1% a day for 365 days.
Much to my surprise the improvement was 36.78 times.
Benefits
1% a day is achievable.
Each day we do something to work on our business, but working in our business is not neglected.
It can be simple.
Measuring
I like to document my 1% each day in a spreadsheet. Did I mention I love spreadsheets? I just put down what I have done that day to improve.
What can you do to make a 1% improvement?
Contact me at john.clarke@stptax.com for my list of 25 suggestions.
As always the advice in this article is general in nature and you should contact an accountant or tax agent for advice that is specific to your circumstances.
Book a Free Consultation with John Clarke, Business & Tax Accountant in Port Macquarie
a/ 6/114 William Street, Port Macquarie, NSW 2444, Australia
t/ 0481 039 851
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