Efficiency in business is something of a sacred cow. Every business strives for it because, in theory, it boosts revenue by minimizing wasted resources.
In fact, there is a whole efficiency industry that offers systems for improvement, such as Six Sigma or the lean startup. Of course, mileage varies depending on your business and stage of growth. Lean works great in startups, but not so well for mature businesses.
The good news is that you can take steps that improve business efficiency even without a system. Keep reading for five actionable ways you can jumpstart your business efficiency.
1. Supply the Right Tools
Launching a business drains your mental and financial resources. That routinely translates into using tools that mostly get the job done because you can afford them. Unfortunately, a bad fit tool slows down your employees and even you.
For example, do you have a dashboard that offers you an overview of key performance indicators and metrics? Supplying the right tools lets people work faster. It can also arm people to make better decisions.
2. Map Your Processes
Before you can implement any ideas to accelerate efficiency in business, you must know what your business actually does on a day-to-day basis. Processes evolve over time based on new technology or new regulations. That can create situations with unnecessary redundancies, unnecessary paperwork, or overstaffing.
Knowing your exact processes lets you streamline them, which lets you reap the benefits of efficiency in business.
The answer to the question of how to improve efficiency in a business is often automation. Software can often replace human input for repetitive, rule-driven activities. That frees up human capital for more creativity-based work and generally speeds up repetitive processes.
Poor communication drives poor business efficiency. Let’s say you tell an employee to “deal with the problem.” That’s fine if the employee understands your idea of resolving the issue.
It’s an invitation for angst and wasted effort if they don’t. Clear communication helps you ensure that things happen the way you want the first time.
Many business owners believe that they are best positioned to improve business efficiency. Yet, it’s often the case that an outsider can offer more insight into business process improvement.
A consultant may come into the situation with existing ideas about your industry, but not about your specific business. That allows them a level of objectivity that no insider can match.
Boosting Efficiency in Business
Boosting efficiency in business can feel daunting, but it almost always starts with basic steps. You must give your employees the right tools for their jobs because those tools provide near-automatic efficiency enhancement.
You also need a clear picture of your processes, which lets you trim unnecessary steps. Automation can speed up repetitive processes and limit errors. Clear communication helps you avoid wasted effort.
If you can’t see a clear path, you can always outsource to efficiency consultants.
Looking for more efficient marketing tips? Check out the posts in our SEO Articles section.