Times are strained and competition is tough, which leads to poor earnings for many craft firms. But what can you do to improve the bottom line of your business? First and foremost you must find the root of the problem in order to solve it. Below we have listed a few possible causes of poor earnings:
Difficulty making time for calculating quotes during the work day
Circumstances may be causing you to spend too much time on cost estimates, or maybe you are pressed for time and simply cannot find time to calculate your projects? Many companies will recognize this problem, a problem which will often have a negative impact on earnings. Read more here
Lacking overview of orders and consumption
It can be difficult to get the full overview of orders and expendetures in a cost estimate. However, it is an absolute necessity if you want to profit on your project.
Fear of expensive formula errors
We are all familiar with expensive formula errors in our Excel spreadsheet. Usually we recognize them because we carefully check the numbers. Everyone fears formula errors, which can end up costing you dearly if you send the quote without finding the mistake.
Important knowledge must stay in the company
It is challenging to gather knowledge in a uniform and structured way. When this is done, others must be able to access that knowledge easily in order to utilize it. If this is not possible, the business loses knowledge which can result in diminished profits.
Read more here
Other reasons
There are other problems which may cause a business to struggle with insufficient profits. The fundamental task is to find the difficulties your business is faced with and a solution which can minimize or perhaps completely remove them.
Sigma® can help you minimize the vast majority of difficulties, whether you are handling minor tasks or entire projects.
