Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. One of the keys to success of your business is eliminating any inefficiencies and redundancies. Streamlining specific parts of your business will increase its performance. The following contributed post is entitled, Effective Ways To Streamline Your Business.
* * *
When running a business of your own, every minute of the day matters. With an endless list of jobs, many fires to put out, and limited resources, you must make sure that your time counts. If you’re sitting down at eight and leaving at five having accomplished nothing you needed to, a change must be made. To stand any chance of being the best, you must work more effectively and efficiently. With that in mind, here are six things that you can do to streamline your business.
Eliminate Unnecessary Travel Time
As important as face to face meetings may be in business, they definitely aren’t necessary for every situation. If you have clients and contacts spread across the country or even the world, you won’t be able to travel to meet them. Not only is it expensive, but it wastes precious time. With today’s technology, there’s no reason why you can’t talk face to face over the internet instead.
Plan Fewer Staff Meetings
You might not have to drive hours for meetings with your team, but that doesn’t mean that they don’t waste time. Far too many employers schedule weekly or daily meetings with their staff, with no real purpose behind them. The fewer staff meetings you have each week, the more your team can get done. Keeping that in mind, writing a staff newsletter might be more efficient.
Outsource Your HR Function
Entrepreneurs can easily spend up to and over a third of their time handling payroll and benefits administration. Doing so yourself also risks penalties if tax filings are incorrect or payment deadlines aren’t met. To make your life easier, you should invest in an hr management system. By outsourcing the work, you save time and have peace of mind that mistakes won’t be made.
Invest In Skills Development
Although it would certainly be helpful, employees aren’t meant to be masters of all trades. They have their strengths and weaknesses, just like you so. It’s up to you to identify where those strengths lie and encourage employees to develop skills in those areas. This is a rewarding enterprise, but it will also give your team an edge, inspiring them to greater productivity.
Sort Out The Schedule
Creating a schedule for your employees is sure to be a time-consuming nightmare, especially for businesses in the retail industry. However, there are tools and software packages available that will make this task much simpler. With a schedule, your team won’t have to waste time deciding which task to tackle next, or, worse still, interrupt you to ask what they should be doing.
Look At Paper Usage
Paperwork can quickly pile up in an office. The problem with this is that the more paperwork you have on your desk, the more difficult it will be to find a specific file when you need it. The cost of paper and ink will also add up over the course of a year. To save money and unnecessary hassle, you should clear the paper from your desk and store your files on the cloud.
Time is a valuable resource in business, so take care of it by streamlining your company.