Every business owner would love you to have 100% fully efficient and productive businesses. The fact is inefficiency can cause a business to lose as much as 30% of its revenue. That could mean the difference between surviving the next disaster or folding. Productivity is someone that all business owners should be concentration on. Making the best use of the resources that you have and streamlining processes to enhance productivity is key. No matter how good and efficient you think your business is, there is probably scope to improve. Besides, developing a mindset that is forward-thinking and proactive is essential in ensuring the survival of your business.
Motivate Your Staff
If you want a way to increase your company’s productivity levels, you should focus on your staff. You need to give them a reason, other than the pay packet, to work as hard as they can. You could develop your brand, which includes aspects such as a philosophy you follow, a vision you are aiming for, core values, and ethics. From this, you can develop a strong company culture that mirrors your brand. If ou staff feel as if they are involved in something that matters, they will have a purpose for their hard work and something to believe in. Additionally, an excellent company culture will ensure that their thoughts and opinions are heard and acted on. You could have daily ten minutes meetings to give everyone a head up on what’s happening and how it affects them. Ask for feedback, etc. Also, invest in things that improve their levels of comfort, like ergonomic chairs. The more values you can make your staff feel, the more motivated and productive they will become.
Conduct a Tasks Audit
A tasks audit is a great way to weed out any outdated, inefficient, and redundant tasks. Some tasks may well be taking up a lot of time when they are no longer necessary. This needs to stop asap. Go around tour organization and compile a list of all the tasks and highlight them as vital, needed, not needed. You can also highlight which ones could be merged with others or improved in terms of efficiency. The more tasks you can stop, the more your staff can focus on relevant and more important tasks.
Once you have your tasks list, you can identify all the ones that can be automated. It may well be that something like sending put receipts to vendors is essential but can actually be automated. Automation is key to ensuring that you make the most of the resources you have and stay ahead of the competition. You do not want to be wasting money in the anty area.
Upgrade your Tools
Technology is advancing at a staggering rate, and if you are still using the same tools as you did ten or twenty years ago, you will be missing out on these technological advances. You cannot expect your staff to be as productive in an old, buggy software system as they would be on a brand new all singing all dancing piece of software that is perfectly created for the business you have at the moment. So you need to invest. Think about other tools too. If you are in carpentry, then do you have the best carpentry tools. What tricks do new tools do that our tools don’t? Taking payments is another thing that needs upgrading, such as having a virtual payment terminal from North American Bancard. Do a lot of research and work out how best to upgrade your tool to streamline your business and make it more productive.
Create Simple and Focused Plans
Sometimes productivity can be hampered by trying to do too many things all at once. Instead of creating more revenue, it can, in fact, have the opposite effect as staff becomes bogged down in detail and complexity. This is not a good strategy. A good business owner knows that the best plans are simple and straightforward, with clear steps to follow. The simpler a process, the better it is.
Take a look at your business now, and think about where you want it to be. Perhaps you want to open another line of items, but you only have one at the moment. Well, the long-term goal can be to open this range of items, but you need to create a lot of smaller goals to get there. From the research to the feasibility studies, etc. Goals can be like mini-plans.