Your company is making a profit and its future is looking positive. You may even be considering businesses for sale and expanding your current operations. But before you think about growing your empire, you know there are areas of the business that could be running more efficiently.
Simplifying your business operations can see you overcome any production issues. It can help you improve your capacity to correspond to clients and engage with your target market. It can lead to greater employee productivity, contribution and empowerment. With a more efficient business model, you’ll set the stage for greater growth in the future, resulting in higher profit margins and better value for your customers.
No matter how successful your business is, there is always room for improvement.
- Get everything online
If you are still shuffling papers to manage your accounts you may be limiting your opportunity for business growth. An online accounting package cannot only streamline paying wages and bills, it can also automatically generate client invoices and send late payment reminders.
Look for a sophisticated accounting system that makes your daily task and tax time easier as well as one that allows for expansion.
- Outsource tasks
Hiring staff can put a lot of pressure on a small business which is why many progressive companies are outsourcing tasks offshore. Rather than hire a full-time personal assistant in-house, consider employing one online. If you’re in need of someone to manage your website or write content for your blog, freelancers worldwide can save you plenty of money and get the job done quickly.
- Set up a server
Servers will help you better manage your businesses’ important documentation. Instead of the old school filing cabinet or storing information across several PCs, a good server will provide you reliability and ample storage. The bonus of transitioning to an in-house server is that you’ll be able to run a daily backup.
- Schedule efficiently
Keeping track of employee hours on individual tasks and creating a schedule can be time-consuming. Thankfully, there are great software options that can quickly automate your employee’s schedules including their vacations, sick days, availability and even their personal attributes. TimeCurve and TimeClock Plus are just two of the many popular scheduling systems available. For optimal efficiency, find a software that communicates directly with your accounting system.
- Conduct stand-up meetings
Meetings can drag out unnecessarily, especially those that serve up coffee and cakes. Instead of gathering around the boardroom table for a long WIP, conduct a stand-up meeting. Keep your meeting to a maximum of 15 minutes to reduce the duration and ensure the only the key information is communicated. No one wants to stand for too long, so the everyday chit-chat will be eliminated.
- Standardise your systems
Develop a process map that allows you to standardise your systems. This is particularly important when hiring new staff or expanding your business to include additional premises. Where any task is repeated, it’s best to make it standardised to maintain quality, minimise errors and save time. A process map can take time to set up, but once established you’ll be thankful you put in the work.
- Focus on single tasks
We all praise multitaskers, but for increased productivity, there is something to be said for single-tasking. Rather than juggle 10 projects where nothing gets completely done, single-tasking allows you to focus solely on one job until it’s complete. You’ll move more quickly from one task to the next without allowing a project to go stale with a few loose ends.