We all have blind spots. For example, perhaps one we all understand is those who are angry or showboating often hide a vulnerability or weakness underneath. Someone becoming incredibly toxic and aggressive following a romantic breakup, for instance, is often hurting underneath, and that’s what will motivate their hard reaction. While businesses are nowhere near as complex as people, the idea of the eternal blind spot is something that carries with it a sense of validity. After all, if you do not look in those darker areas, you’ll be unaware of how to improve or solve them.
But how can you know what you’re doing wrong as a firm? This might be clear if you’re struggling to sell your products, or if your staff turnover is increasing due to a bad manager. That being said, what if your business is improving and successful? We might take this as proof that we are perfect in our efforts, yet of course, this is never correct. Thankfully, with the following advice, your operation will remain more self-aware than ever:
Inspect your processes thoroughly. Leave no stone unturned. It could be that you’re spending way too much on inventory, you’re failing to turn your stock over efficiently, or you’re experiencing an unusually high number of product damages at a certain area of your manufacturing line. Thorough inspections matter, and they can truly make a difference – allowing you to potentially slash tens of thousands of yearly dollars that may otherwise have been written off. The same can go for business expenses from your travelling remote representatives, or even computing equipment being replaced by overzealous IT managers. You’ll fail to find anything unless you look.
Using expert procurement consultants can help you figure out if your procurement process is running in a streamlined manner or not, and if you’re truly maximizing the deals you are able to gain through this process. Additionally, they will be able to suss out flaws in your communication, in your staff training, and also the crippling overspending you may be laying down in certain departments. Procurement is complex and that means it is rarely perfected. With a team such as this on your side, you’ll take every step to get there correctly.
If you’re not investing in the internal communication and surveying structures that can allow for staff to report issues, and for those reports to be read and understood, and for practical fixes to be considered and put in place, then you have an issue listening to coherent feedback. Even if you do not act on every issue that you’re presented with, the willingness to listen to them and maximize your attention to possible solutions at least helps you lay those cards out on the table, even if you decide that now is not the best time to move forward.
With these tips, you’re sure to understand where you’re going wrong as a business, and you’ll more than likely take steps to avoid that in the future.