Running a small business can be like raising a child. As it is every parent’s wish for their child to grow up strong and healthy, entrepreneurs want to nurture their brainchild into an empire. As a parent or small business owner, you’ll agree that a significant amount of work and dedication has to go into achieving either of these goals. However, taking your small business to the next level requires more than just clocking longer hours. You have to keep working on improving efficiency to maximize productivity, and fortunately, this guide offers ways to do just that.
1. Leverage Technology
We no longer live in a time where business owners have to hire a person for every task. These days, there’s software for everything, from time management to inbound marketing. Knowing when to rely less on your employees and more on technological solution providers that market B2B companies can exponentially improve your productivity.
In addition to sales and marketing, streamlining your processes and growing your distribution network are areas in which you can leverage technology as a small business owner. Thankfully, there are established companies like ManoByte, HubSpot, and LogicBay who cater to these needs. On top of solutions such as CRM, ERP, and RPM, a company like ManoByte assigns business growth consultants as part of ROI when you partner with them.
2. Learn to Delegate
A common mistake many small business owners make is trying to perform too many tasks by themselves. This is an unnecessary and inefficient approach that can do more harm than good to your business. To improve your efficiency, consider forming a reliable team in and out of your organization, then delegate according to each member’s strength. For instance, if your services require packaging, you can focus on making the product while you delegate the procurement of wrapping supplies. This aspect, of course, should go to a team that knows the difference between heat shrink wrap and the type that doesn’t require a heat gun.
You can enlist companies like US Packaging & Wrapping in your supply chain. They provide supplies for industrial and commercial businesses to package a variety of products. They handle things like shrink bag, polyethylene, polypropylene, polyolefin (POF), PVC shrink wrap, and flame retardant shrink film in whatever length, thickness, or clarity you require. When you enlist partners like this and delegate your workload, you have more time to do the things you’re passionate about.
3. Make the Most of your time
Effective time management is an essential skill every small business owner should cultivate. When trying to build a business, every second counts. However, this doesn’t mean you have to dedicate every hour of the day to work. Overstressing and depriving yourself of sleep only burns you out and gives you crow’s feet. A good way to optimize your time is to avoid distractions. Here’s a hack: if it doesn’t make you more effective or increase your output, don’t do it during working hours.
4. Avoid Multitasking
The majority of studies on improving efficiency and productivity reiterate just how overrated the concept of multi-tasking is. Simultaneously performing multiple unrelated tasks may seem like the best way to get things done faster, but at the end of the day, you either end up executing them poorly or spend more time achieving your result. If you must, grouping and executing similar tasks like correspondence will prove more efficient than replying to emails and overlooking logistics at the same time.
5. Embrace Change
As a small business owner, your values reflect on your company. The business scene is ever-evolving, your competitors are not remaining stagnant, and neither should you. To even stand a chance against the big guns who have been in the game before you, you have to be willing to embrace change. That said, you still need a certain level of discernment as not every move will be favourable for your brand. The important thing is to keep your eyes peeled and be able to adapt when required.