Building efficiency into your business plan from the start

Business figures released by StartUp Britain reveal that an increasing number of businesses are being registered with Companies House every year. This indicates that people in the UK have a huge appetite for starting their own business. However, according to multiple sources, the failure rate for start-ups is also alarmingly high.

As a small business owner, you need to put in a lot of effort to ensure your venture succeeds. One of the best ways to do this is by streamlining your company’s workflow. This will make your operations more efficient, consequently increasing business efficiency.

It is common for things to be quite hectic following the launch of a new business, and it can take a long time before work settles down into a routine. It is up to you to find ways of making this period as short as possible so that you can get down to the core purpose of your business.

A few tips on creating efficiency in the workplace are examined below:

  • Learn to prioritise tasks

The first step to making your workflow more efficient is to capture and prioritise tasks as soon as they come up. You need to determine in what order the tasks should be done, the deadline for their completion as well as the resources required to complete them.

  • Assign and delegate tasks to different people

The next step after prioritisation is to assign tasks to different people. You can’t handle everything yourself, and trying to do so will only hamper your business’s efficiency. It is much better to delegate tasks to employees with the right skills to complete them. Ensure you balance the workload to avoid overburdening some employees while leaving others idle.

  • Track everything

You also need to put a tracking system in place to keep an eye on all business processes. This can range from a simple whiteboard chart to complex enterprise resource planning (ERP) software. The system you use will depend on the size of your operation. The important thing is to have a method of tracking processes from start to finish through various business departments.

  • Automate processes as much as possible

Thanks to technology, you can now automate mundane, repetitive but nevertheless necessary tasks. By investing in the right software and technology, you can accomplish these tasks with minimal effort on your part, leaving you free to concentrate on developing your core business. For instance, you can make use of Invoice Home, an online invoicing tool designed to simplify the invoicing process for small businesses. Make your selection from one of their customisable invoice templates here. Do your research and discover other tools and software you can incorporate into your business to streamline your operations.

  • Establish excellent communication channels

Finally, remember to set up a functional communication channel to help you stay in touch with your employees, clients and suppliers. Find a means of communication that enables you to send and receive messages in a timely manner to ensure your operations run smoothly.

Hopefully, the tips listed above will help you to optimise your business for success right from the beginning.

 

Posted by on Apr 14 2016. Filed under Blog. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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