And equally important, bottlenecks to implementing new practices can receive your personal attention. One of the secrets is in deciding what items to control. Even in a small company, the owner-manager should not try to be all things to everyone. You should keep close control on people, products, money, and any other resources that you consider significant to keeping your operation pointed toward profit. Manage Your People.
Most businesses find that their largest expense is labor.
Yet because of the close contact with employees, some owner-manager of small businesses do not pay enough attention to direct and indirect labor costs. They tend to think of these costs in terms of individuals rather than relate them to profit in terms of dollars and cents. Periodically review each position in your company. Take a quarterly look at the job. Can a part-time person fill the job.