“Resources” are people, tools, time and money. All four are available in limited amounts to businesses and non-profits for making products and delivering services. The bottom line depends on the right employees/volunteers, using the appropriate tools, within an optimal schedule, for the lowest cost.
How do you accomplish all that and get the most from your resources? Attention to four management fundamentals will help get more from your people, tools, time, and money, and add to your bottom line.
It is very tempting to act immediately on a new idea, whether it’s a product, service, or target market. You want to get started! “Starting” should include gathering some basic information to form a plan. That plan should address the “what”, “how”, “when”, and “who” needed to accomplish the new idea.
Having the right people and tools does no good if your policies and processes are not clear or communicated, or if people do not know how to use job tools. Documenting, communicating, and training on policies, procedures, and tools help ensure that people know what to do. Procedures documents and training materials must be kept updated.
Spot checking is essential. How else can you know if things are working as you planned? Be sure that your employees or volunteers understand their responsibilities. Don’t forget your vendors and systems because your business depends on them. Also, monitoring does not mean looking at every transaction or activity. Volume and frequency depend on the organization.
Refine and Update
Conditions change. Improvement opportunities are identified. Getting the most from your resources could mean changing your procedures, training, personnel, tools, systems, schedules, or expense controls. Change can be difficult. Knowing you will get more from your resources after making that change could make it easier to endure.
Getting more from your resources — people, tools, time, and money — can be accomplished by practicing a few management fundamentals. Maximizing resources adds to the bottom line and positions businesses and non-profits for growth.