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Top Tips for Improving the Efficiency of Your Business

Posted By ABPMP International, Tuesday, July 11, 2017

Businesses thrive on efficiency and the approach you take to running your day-to-day operations can have a dramatic impact on your productivity and overall profitability. You can do this by focusing your efforts on streamlining and refining your workflow while encouraging your staff to do the same.

Have a Routine for You and Your Staff

Many businesses end up wasting more time they realize. They spend it making minor decisions that they shouldn’t need to. By implementing and sticking to a routine your staff, will know what they should be doing at any given moment and no time will be wasted figuring out what to do. Routines also increase productivity through familiarity; the more your team complete the routine and the tasks therein the more familiar it will become and the easier and more efficiently they should be able to complete it. If they see you following your own routine and emphasizing the importance of doing so, they are much more likely to stick to whatever routine you lay down for them. Have a look at the routines of successful entrepreneurs for inspiration.

Automation

Automation is an increasingly common and important feature of the business landscape, with robots replacing humans on factory lines and an increasing number of administrative processes now fully automated. If any members of your team are proficient coders, you should consider asking them to go over your workflow with you and identify opportunities where they can automate tasks to increase your productivity.

Avoid Multitasking

Trying to focus on multiple tasks at once inevitably negatively affects the quality of completed tasks. By tackling tasks one at a time and focusing on them individually, each can be given the care and attention it deserves. People often fall into the trap of equating having multiple on-going projects with increased productivity when often the effect is the complete opposite.

Encourage Your Workers to Learn New Skills

The people who work for you will be the foundation of your business and your success or failure will rest largely on the capabilities of your workers. Encourage your workers to learn new skills, whether by partaking in extracurricular activities or taking advantage of learning opportunities within the company. Online degrees such as an online masters in accounting are an easily affordable and accessible way of gaining qualifications which are of value to both individuals and the wider organization. By training existing workers rather than hiring new ones, you create loyalty and foster a more productive environment. There are a variety of institutions that specialize in business-related degrees, such as online accounting degrees. Having a masters in accounting, for example, would greatly increase the value of your team.

Running an efficient business requires you to lead by example and demonstrate the kinds of behavior you hope to install in your workers. By remaining focused and organized yourself your good habits will inevitably rub off on those around you. Inefficiencies in a company’s workflow can cost a significant amount of time and money over the course of a single month or year.

Read more on: Online Master's Degree in Accounting

 

Updated on June 29, 2017

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