How much does theft cost your business each year? Take a long hard think about your answer. Because not every thief is the kind who will walk into your store, smile at your employees, find a quiet spot where your CCTV is less than comprehensive and start shoveling your inventory into their pockets. There’s another thief at work in your business, a thief far less noticeable but far more potentially insidious. We’re talking about the thief known as… waste. Waste costs small businesses of all shapes and sizes a small fortune each and every year. Wasted time, wasted resources and even wasted talent… It’s hard to quantify but it can cost businesses a great deal not just in revenue but in opportunity.
However, entrepreneurs are not powerless in their battle against this thief. There is a single word that is an effective shield against this dangerous menace and that word is… Efficiency. Thus, entrepreneurs should be in a constant state of introspection, evaluating their processes and ensuring that they are as efficient as possible to ensure that there is as little waste of time, resources, talent and opportunity as possible. As the leader of your business it’s up to you to be proactive and identify opportunities to make your processes and your operation more efficient. For example…
Choose systems that will integrate
Your tech and the software you use will dictate your processes which play a key role in determining your efficiency. The trouble is that when starting out in business, we can overdo it when hedging our bets and invest in several solutions when one will do or choosing systems that do not integrate with one another. Choose solutions that are built with synergy in mind. For example, BlueSnap is not just a great means for accepting secure credit card payments, it also integrates with popular CRM solution Salesforce. The more integration you have then more efficient your operations and the quicker and easier your employee training.
Automate and outsource where you can
Your employees are a huge part of what can propel your business to new heights of operational excellence and profitability… But they cannot give you their best if they are overworked, spread too thin or spending a disproportionate amount of time on activities that are not becoming of their talents. Thus, while it may result in additional overheads, do not be afraid to automate your processes wherever possible. It’s also worth considering that there are some facets of your operation that may benefit from outsourcing to a third party.
Create a working environment that’s conducive to productivity
While we may invest a lot of our time, effort and money on recruiting the very best candidates and training them to the highest standards, it’s still our responsibility to ensure that they are equipped to be the best that they can be when they work for you.
Take the steps to create a working environment that’s conducive to productivity; ergonomic, free of clutter, well lit and free of distractions while also ensuring that you have a workplace culture that values each and every employee and makes them feel safe, valued and respected.
These are important weapons in your arsenal when battling the ever present threat of waste.
[…] Waste Is A Thief, And Efficiency Is Your Greatest Defense Against It […]