Lean is a way of thinking and being that applies to any organization interested in being efficient and effective in their operations. The lean tools and methods are designed to maximize customer value and eliminate waste—in any process. In the context of lean, processes are viewed as value streams and eliminating waste creates efficient and effective processes that flow with less human effort, less capital investment, fewer defects, and at a significantly reduced cost relative to traditional processing methods. What small business isn’t interested in those outcomes?
Accounting is known as the universal language of business for a reason—without it, no company on earth would stay afloat for long.
Some small companies, especially those just getting off the ground, see accounting more as an afterthought, something to be implemented once business picks up and there's a reason to start tracking revenue and expenses. However, this can be a grave mistake; no matter how much you're spending or making, knowing the ins and outs of your finances is a critical element to success.
20 years ago, Jones graduated from physical therapy school in Nigeria and has been working in the industry ever since. When he moved to Canada in 2005, he began working at a clinic in Fort McMurray before moving to Calgary a few years later. In 2012, he branched out on his own and started Stargate Physical Therapy Inc., which offers physical therapy, medical rehabilitation, and other specialty services.
Although landlords often ask for security deposits on commercial leases, such deposits aren’t legally required. In fact, you can often negotiate them. Unfortunately, too many business owners don’t know that and willingly pay the deposit, without negotiating the amount or the terms. Your goal as a tenant is to pay as little deposit as possible—no deposit at all is best. Deposit money, which generally doesn’t earn a penny in interest, can better serve as working capital for your business rather than security for your landlord.
Every business needs to consider themselves—at least partly—a technology business. If your company isn’t leveraging technology, you risk losing valuable business to competitors who are. Finding solutions for business challenges has become harder now that machine learning (ML) and artificial intelligence (AI) are poised to affect how we work. This challenge may seem ironic—technology is meant to make life easier—but unlimited options can increase the difficulty of making informed decisions.