Have you ever regretted spending $300,000 when you actually could have only spent $30,000? By hiring a consultant for $30,000 you can solve your process inefficiencies in a more timely manner resulting in very substantial financial savings.
This article explains why you should make the investment and hire a consultant – Penon Partners of course! Many executives choose not to make the investment because they underestimate cost or they fear being blamed for having inefficiencies.
A consultant can help you accurately estimate the costs of inefficiencies in actual dollars and time. Following is an example of the internal cost of inefficiency for a year:
➤ 15 minutes per day for 20 employees ($50/hour) = $60,000
➤ 50 software licenses at $50/month = $30,000
➤ Elimination of 2 leased pieces of equipment at $500/month = $12,000
➤ 4 hours at the month end closing for 10 employees = $2,400
➤ Resignation of an employee + hiring a new one = $10,000 minimum
This totals more than $100,000 in this example. Can you identify any other direct or indirect costs in your organization that would increase this dollar amount?
Due to company culture, there may be a fear of admitting inefficiencies. Nobody wants to be blamed for problems. However, if your main goal is to increase profitability of your company, then you must identify and solve issues. You will be rewarded for proposing solutions.
In conclusion, the benefits and cost of investing in Penon Partners to help solve your company’s issues becomes much more valuable with a clear return on investment for you and your company.
We hope this information provides a valuable point of view and we look forward to hearing from you. We’d love to help!
Schedule a call with us.