New Financial year – New Year, New You.
It’s that time of year again! The new financial year is an important time for businesses – not just financially, but internally as well. It is a good time to take stock of your processes and evaluate how effectively your business is running.
With today’s instant and constant connection through social networking, inefficient systems can be detrimental to your business. In order to remain successful your company needs to be working at peak efficiency. When you are already embedded in your current practices it can be hard to change processes but there are some tips that can help.
1. Grow Your Systems Before You Expand
When your business is small your processes and workflow are designed accordingly. Expanding too quickly means the proper systems and training can’t be put into place. If you expand too quickly, you can’t properly adjust workflow, the systems that support workflow, or the employees who must manage the workflow. This makes it important to manage and adjust your processes before expanding your business. Efficiency should be a top priority to ensure your business thrives and grows. Without efficient processes in place, as your business expands there will only be more issues.
2. Make Smart Technology Decisions
It is easy to be seduced by the idea that a piece of software or hardware will magically fix your business. Make sure you thoroughly understand any new software you adopt and that it is appropriate for your business. If you’re thinking about new technology, make sure to get a live demonstration to test before you buy, and always try to talk to references in your industry who use the software.
It is also important to consider who will be using the technology you want to integrate into your business process. You should always consider your employees and they should be part of the evaluation and whether the purchase is actually something they need.
Use trusted, supported and reliable technology. There is nothing more frustrating than trying to work with slow or buggy software. Viruses, malware, and underpowered hardware are the prime reasons people are unable to work efficiently and get their work done.
Check out this study by Dell on using dual monitors to increase employee productivity and efficiency.
3. Open & Transparent Communications
The most crucial aspect of running a company, and usually one of the most overlooked aspects to be addressed, is communication. When communication is poor, work is inefficient. Make sure staff can easily communicate with their fellow workers, with you, and with clients. It could be as simple as an open door policy or you could use a content management system and ensure every piece of work is documented. Whatever you decide to do, ensure communication is a top priority.
And don’t forget to listen! Employees often come up with great ideas for how to efficiently complete a task. Staff members are the ones who usually manage the bulk of the day to day work — they can also have some great ideas on how to improve it. It is also important to have an understanding about their workload. If you don’t overload your employees, you should be able to expect efficient work from them.
For a list of important EOFY activities for all businesses click here.
In the fast pace of business today, the more organised you are, the more you can achieve. By having efficient systems and processes in place, the operations of your business will run smoothly, giving you more time and energy to concentrate on your vision. Our Setting Up Efficient Business Systems workshop will reveal how simple systems and processes can save you money and time, reducing stress and risk for sustainable business success. Come along July 12th to see how you can improve your business efficiency.