In tough economic times businesses need to find new ideas, improve services or products, and always be on the lookout for better performance strategies.

If you’re in a hole, quit digging

It’s time to put on your thinking caps. Before you jump into any call of action examine the numbers. Scrutinize how existing assets and debts are being handled. In review of your business, you’ll want to look for departments that could be streamlined and need improvement, look for seepage, analyze your weaknesses and strengths, assess service or product offerings and management style, and last but not least evaluate every employee.

The next step is put together a plan of action to grow your service or product sales and improve your customer service. And begin utilizing viable outsourcing options, thus eliminating administrative duties delaying growth or hindering your last chance to save the company. It’s amazing how some companies are going under, while others are flourishing. Thriving leaders are on a mission with new ways of thinking and well-defined goals. They have a formulated winning process.

Smart decisions need to be made

How smart are you working? What can you do to secure the financial security for your operation? It might be insane to keep doing the same old thing you’ve been doing for the last 30 years. You need to be the leader everyone is counting on to keep the business prosperous and to provide job security and benefits. Know what your options are.

Economic changes are likely to continue

Are you aware of the spike in state unemployment insurance (SUI) tax hitting all employers this year? What else will affect your operating costs? What changes are you experiencing with clients, vendors, insurance companies and financial institutions? Do you have the time and knowledge to effectively manage all that’s coming your way, while tending to administrative duties that don’t drive profits?

Seek professional help

Outsourcing professionals to advise or totally manage the administrative side of your business is a practical option, actually an excellent option that is a lot less costly than you think. And, in many cases, there’s no long-term contract. Therefore, you have the safety net without any confining contracts. The bonus that comes with outsourcing is the new found time to drive revenue.

One on-the-rise outsourcing option offers human resource services. These service providers are called Professional Employer Organizations (PEOs). They manage the payroll administration, workers’ compensation, insurance and claims management, human resources, safety programs and benefits. Outsourcing these things helps keep costs predictable.

Consider outsourcing options for all administrative business processes and functions that do not produce revenue. Are routine tasks sapping up too much of your time? Would your time and that of your employees be better spent in areas that actually deliver strategic value?

Evaluate other professional relationships, such as those with your accountants and attorneys. Are they easy to get a hold of? Are they too expensive for the services they’re providing? Are you getting the appropriate level of service? If not, look at making a change. It’s advisable to streamline your business by consolidating the number of service companies handling your administrative work. Due diligence in this area pays off big time in the long term.

Are key employees on target?

Determine how key employees can make the most money for the company. Are they weighed down with too many reports or administrative duties? Are they motivated? If not, they need to off-load non-revenue generating duties and receive new direction. It’s very important to effectively connect with and successfully manage your employees. A highly trained professional in human resources could significantly improve your results in this area.

If you aren’t very knowledgeable in this area and aren’t using all the tools available, you’re missing many opportunities for success right now. The human resource tools I’m talking about encompass writing effective employee evaluations and employee handbooks, compliance assistance, reducing your legal liability, learning how to effectively communicate with and mentor your employees, just to name a few items that must be addressed annually and on an as needed basis.

You have both the responsibility and opportunity to re-shape the well-being of your company. Use mentors and professionals in your process, such as respected business leaders, UniqueHR, CPAs, Del Mar’s Small Business Development Center and SCORE. Your call to action plan should address multiple issues. Don’t put off what you can do today.