3 Tips To Run Your Business More Efficiently
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Business efficiency is about making the best possible use of your resources, including time and employees.
If you haven’t designed a plan to improve your business efficiency yet, you might be overlooking areas where you could save time and manpower.
And this impacts your ROI and, ultimately, your bottom line.
That’s why, to help you maximise your resources, we’ve decided to share with you today three powerful ways to run your business efficiently.
Delegate The Small Things
It’s your business, and you want to get involved with everything.
We get it.
But there are only so many hours in a day and only one you. The reality is that you can’t do it all, and if you try, your productivity will decrease, and so will the quality of your work and, ultimately, your bottom line.
As a small business owner, you need to be strategic and see the big picture. Sure, paying freelancers or hiring full-time employees might cost you money at first. But in the long run, it’s an investment worth making.
So, while you should handle complex and strategic tasks, delegate the small things like formatting documents, managing your online community or handling customer queries.
Not only will this free up some time for you to focus on running your business, but it’ll also allow you to hire people who specialise in this area and might do a better job than you would have.
And if you already have employees but are reluctant to delegate too much or always want to be involved, don’t! Trust your employees and lean on their strengths. This will increase your employees’ job satisfaction and improve your ROI! This article on how to stop micromanaging might be helpful to you, even if you don't think you're a micromanager.
Automate Tasks & Processes
Many business owners get bogged down in menial and repetitive tasks. Yet, with the incredible advances in technology, it has become easier than ever to automate certain tasks and free up some time for you to focus on more critical areas.
Whether it be production, distribution or marketing, there are tons of software and automation tools available for you to automate processes these days.
For instance, Constant Contact will allow you to automate your email marketing campaigns. This highly customisable tool allows you to craft drip campaigns or welcome sequences, saving you time and money.
If you run an e-commerce store, you can use software like Sendinblue to increase your conversion rate. This type of tool automatically sends reminders to people who haven’t finished their checkout on your website. And you can also leverage platforms like Shopify to automate your fulfilment process.
Some other automation tools and software you can use include:
The sky’s the limit when it comes to digital marketing automation. Therefore, spend time researching automation options that suit your business needs. It will save you time and enable you to significantly increase your ROI!
We also have an article dedicated to small business automations that you can use to make your life as a business owner easier.
Limit Interruptions At All Costs
Weekly team meeting at 9am, training from 11am to 1pm, meeting about marketing strategy at 2pm, meeting with a potential customer at 4pm.
Do your days look a lot like this?
Then the overall productivity of your company is at stake.
It can be very difficult to get anything done when the day is packed with meetings and colleague interruptions.
In fact, studies show that meetings directly affect employees’ productivity, with 49% of employees reporting doing things that aren’t related to work during meetings and up to 91% daydreaming during this time.
But meetings aren’t the only culprit. Constant email alerts and chat notifications tend to decrease overall productivity too.
So, try to schedule all meetings on the same day and keep them short. Also, encourage employees to block out chunks of uninterrupted working time. It will make it easier for them to focus and complete tasks and projects. Using tools like Inbox Pause can be very effective in preventing notifications from distracting you.
Some other things you should do to ensure your business thrives for years to come is rewarding teamwork and encouraging communication (social and work related) between your employees, especially if you’ve implemented a hybrid work model.
Have Business Insurance
This is a step you might not have considered, yet business insurance is one of the most important tools to help businesses run smoothly and efficiently. Public liability insurance, in particular, is designed to protect you and your financial assets in the event someone claims that they have been injured or their property has been damaged due to your business operations.
And to help you find the best cover to suit your business needs, we’ve created a free instant quote generator, where you can get an estimate on market-leading insurance in seconds. Simply enter your occupation and expected revenue to get started.