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wbjournal.com | March 20, 2017 | Worcester Business Journal 31 10 T H I NG S I know about... . . . E n t r e p r e n e u r s u s i n g t i m e w i s e l y By Michael Gladstone Michael Gladstone is president of MyHelp, Inc. in Grafton, which provides business support services to entrepreneurs. Contact him at mgladstone@ myhelpinc.com K N O W H O W Plan ahead to manage busy season T he accounting profession is known for its ability to meet crucial filing dates that can change an entire year for usi- ness clients and individuals. The pres- sure is on during that deadline season, which translates to an avalanche of deadline-oriented work in two months. At AAFCPAs, we are in growth mode, and the success of our busy sea- son is tremendously important. We do as much as we can to plan ahead and schedule out the workload. If we were to shortcut that upfront planning pro- cess, our results would suffer. As the season unfolds, there are three areas we focus on to be sure that we stay on task and energized as a team. 1. Clarity of communications Clear communication can be the most critical ingredient to a smooth season. Otherwise, organizations risk false assumptions and expectations. We take formal steps to ensure we are all on the same page. This year, we held an internal training on having candid conversations with one another. Through interactive and light-hearted role-playing, we rehearsed addressing minor issues that can build over time and drive teams apart. Something as simple as music playing in the work- place can create unnecessary tension. At the end of every engagement, we meet as a team and talk about what went well, what we can improve, and what we will change. A ll company cost reductions are not created equal. Waiting until there is a problem in your business might be too late to make cost-cutting maneuvers that can have long-term benefits. Successful companies know that cost decisions are directly linked to strategy – which is directly linked to growth. Here are three ways to guide cost-reduction considerations. It's not enough to have a cost-cut- ting plan; it needs to be sustainable. Create more transparency around what is a good cost and what is a bad cost. Good costs should be aligned with your strategic plan – they differ- entiate your corporation. Bad costs are dispensable and should be more tight- ly managed, says Paul Leinwand and Vinay Couto at Harvard Business Review. Cutting unnecessary costs should be the priority of all team members, and "a shared mindset, rather than a bunch of rules … Even when no one is watching, employees treat every spending decision as if the money comes from their own pocket," they write. Speak with your suppliers. "Most suppliers are amenable to the idea of negotiating prices, because they would rather do so than lose a regular cus- tomer," says Nicole Fallon at BusinessNewsDaily.com. Negotiating lower prices with your vendors is a smart consideration to reduce over- head. Embrace data. With data collection more accessible to companies of all sizes, there are software tools to track where your money is going. And the results may surprise you. "During our first couple of years, we didn't use data to help us make most decisions," writes John Hall, CEO and co-founder of Influence & Co., at Inc.com. "We had no concrete information contest- ing or confirming our decisions … Once we got [measurement tools], we discovered that we were using our resources inefficiently." Better to head off misguided practices sooner, rather than later. BY SUSAN SHALHOUB Special to the Worcester Business Journal 10 1: R e d u c i n g e x p e n s e s 10) 15 minutes the night before saves you two hours the next day! Spending 15 minutes every night jotting down your to-do list keeps you focused and on-task. 9) Set weekly goals for both your professional and personal life. If you want to make sure you get to your kid's game/ play/recital on Wednesday night, that's a goal you need to prioritize. 8) Speaking of kids and their activities – get involved in your community and grow your business while having fun. You can potentially make valuable connections to help your business. 7) Invest the time in joining networking groups. Spending time with other entrepreneurs can actually save you time in the long run. You can learn a lot from one another. 6) Commit to making two introductions a week. A 10-minute time investment each week can shave days off your sales cycle when someone else repays your kindness with a personal recommendation. 5) Use Constant Contact, Mail Chimp or other communications services to segment your networks and share relevant information. 4) Position yourself as a source of useful information. Leverage your company's Facebook and Twitter feeds, start a company blog, or develop a newsletter. 3) Review your marketing materials regularly. Don't make your sales cycle longer and more difficult by leaving prospects with a negative first impression. 2) Get the help you need. Invest in professionals who can take care of your non-core functions (bookkeeping, operations, marketing, etc.) 1) Enjoy your downtime. Give your mind a break, spend time with friends and family, and reset every week. Your business will be better off for it. BY CARLA McCall Special to the Worcester Business Journal W W 2. Setting expectations The training exercise focused on set- ting expectations. We practiced talking through specific engagements, deliver- ables, and clarifying goals and respon- sibilities for every team member. We scripted questions every team can ask to help "manage up" and "manage down," setting expectations: • How do you wish to be contacted outside of regular business hours? • Do you prefer scheduled appoint- ment times or impromptu visist? • How do you prefer to discuss review points of a document? • What are your expectations in response to emails? • What are your expectations on timing to complete this assignment? • Do you have any outside commit- ments that I should know about? 3. Showing appreciation during high-stress times Throughout the season, we consis- tently offer ways to alleviate stress. We bring in a masseuse, cater dinners for those working late, encourage breaks and try to keep the mood upbeat. The firm's collective "Thank You" comes after the deadline, with a party in Boston and acknowledgements of the teamwork over an intense two months. Managing through the busy season comes down to a straightforward obli- gation to employees and clients. When we ask our teams to step to the plate for a demanding stretch, we need to give them all the tools and support to be at their best. Clear communication, well-defined expectations and appreci- ation for hard work help us achieve better results every time. W Carla McCall is co-managing partner at Westborough accounting firm AAFCPAs and chair of the Massachusetts Society of CPAs.