As a business owner, you should be looking at your processes on an ongoing basis. There are no situations that cannot be improved with a little – or large – tweak every now and again. Streamlining the way that you operate can have an enormous effect on your bottom line, and canny business owners tend to see those opportunities.
But what, exactly, should you be looking at?
In this guide, we’re going to take a look at some of the most common factors that many small businesses get wrong. Whether through lack of experience or lack of time, they can all happen very quickly. So, the next time you have an in-depth look at the way your company works, consider the following a fantastic starting point.
In business, your time is money. Therefore, every second you spend on non-money making activities is going to be a drain on your cash flow. And, over the year, that will have a bigger effect than you might think.
One of the biggest time drains is the good old email. If you are anything like any other business leader, your inbox will be going off every other minute. There is a lot of temptation to click and have a read – regardless of its importance.
Don’t be distracted, however. Use a product like Email Center Pro to organize the flood of emails that your business receives, and designate them to the right people in the right department. It will save you and your staff a lot of time, and ensure you are still giving great service.
You might have the most talented employees in your industry working for you, but if they don’t work well as a team, you will run into problems. You need a good mix of people working for you, and it is vital that they can do a job as a group, rather than individuals.
Arguments and disagreements over work are an incredible time drain, and may lead to further conflict. You don’t want to spend your valuable time being a referee, or holding disciplinary meetings, so it’s vital to hire well.
Supply Chain Problems
All businesses have a supply chain of some description, but is yours doing you justice? Are you spending too much on deliveries, and is your stock control process coming apart at the seams? If so, then your business will benefit by improving operational performance and taking a closer look at the way you are doing things. There is a lot of money to be saved.
First of all, get a grip on your inventory and stock. The quicker you find things, the quicker you will serve your customer. Next, take a look at your transportation requirements. If you are sending out one package every hour on a different transport, then changing to one every two hours can half your costs in this area.
While this might be a very simplistic way of looking at things, make no mistake – if you can organize your processes, you will save money. And, ultimately, that is going to be better for your bottom line.