Making Money Ideas: Organize Your Business

New “making money ideas” can be completely different for someone who is just starting up as opposed to a business owner who is looking for ways to make more money from what they’re already doing.

IPA Business Today spotlighted Friend’s Plumbing.  In 2003 they had really hit a sweet spot, but the owner, Monty Kosloski, felt overworked and unorganized.  Monty communicated that he knew he was losing money in some areas, but wasn’t quite sure where or what to do about it.

Friend’s Plumbing hired IPA, a management consulting firm, to help them make the needed changes to work more efficiently while continuing to grow.

For most business owners, being hands off is a challenge.  When your money and your business are at stake, delegating tasks to others can make you feel out of touch and out of control.

In Monty’s case, IPA came in and helped him make some organizational changes with programs on computers, with cash flow and even small changes like raising prices by 50 cents.

Within his staff, Monty switched to productivity based incentives.  He quickly noticed that his employees were showing more effort and seemed to care more about their performance and the business as a whole.

In 2008 Friend’s Plumbing had 10% less in sales, but it was their most profitable year ever.  Monty stands by his claim that the overall changes his company made have changed the way he’ll forever do business and reports that he can now focus on working on his business and not so much in his business.