Starting and running a business successfully is an excellent way to make money. Business entrepreneures have largely defined the flow of economies since ancient times. The concept of business is as old as money itself. A business can be anything from a product to a service. However, not every venture started by people finds success. Young entrepreneurs, especially when inexperienced need strong boosting and support to take the path to success.
Every business needs hard work, tedious bookkeeping, management and negotiation skills and much more. Productivity, a very important attribute for getting maximum work done in minimum time is one of those important things every businessman needs mastery over. Here are a few productivity tips to help budding entrepreneurs start making it big by wasting a minimum amount of time:
1. List Down Priorities
Your priority list must include those tasks on a higher priority that impact your settings the most. For example, a meeting a prospective client for a large scale contract. Now this one was a no-brainer, but there would be other things like bills and invoices which can have a large effect. Prepare a daily checklist with the most important tasks on the top.
2. Offer Assistance Before Asking
This small gesture leaves a lasting impression on people around you. If you offer to help them, they would be more welcoming and open to help you next time around. This, in turn, helps one build lasting business relationships.
3. Time Management is Necessary
We only get 24 hours everyday. Out of that, we only get so much time to do what matters. Using it wisely is extremely important. Once your check-list is ready, allocate how much time you want to spend behind each one.
For your employees and subordinates, have them fill in timesheets or get time management software to help them manage their time better. This will also help you identify the tasks which are taking up more time and make tweaks accordingly.
4. Automation saves a lot of time.
Let the AI or computer handle the minuscule tasks so that you and your people can focus on the more important tasks at hand. It is always a good idea to make machines do the time taking things and maximise productivity.
5. Streamline Work Flow and Process
Streamlining work flows and making communication paths clear helps in making sure no time is wasted behind unnecessary office rituals getting everyone up to speed. Clear communications, record keeping and time management are the keys to building a profitable and successful business over time.
6. Set Up Your Tool Inventory
Every task needs tools to get it done quickly, effectively and efficiently. These tools may not just be physical ones but also computer-based. E.g. a car service center would need wrenches and screw-drivers; a photography studio would need Photoshop. Both businesses rely on some kind of tool(s) to make their job and customer service easier. Get a list of the tools you might need to make sure transactions and work tasks can be executed fast.
7. Keep Everyone On-board
Your partners and employees both give their time to the company. It is imperative they know how things are going and what is being expected of them at all times. Take a daily stand-up meeting at any point in time during the day to ask them for any new development(s), good/bad news etc. If possible, give them new updates on how things are looking and what the immediate plan is. You don’t need to divulge all info; just what seems important.
8. Give a Personal Touch to Your Offering
Clients and customers return when you make them feel good about themselves. This is achieved when you add a personal touch to your service. Let your product or service feel like it was designed for them.
9. Make Most of Your Flexibility
Every field of work has its own set of niches. When a business is small, you have a lot of flexibility and can adapt to changing trends more easily than a large one. E.g. A large furniture store would typically be famous for one or more types of furniture and not every type. If you have a store too, you need not be ‘famous’ for any specific thing. That is flexibility which you can leverage to suit your style.
Similar to the shop example, you can scale up your business eventually and carve up your niche as you progress.
10. Get Rid of Distractions
Your office/shop is where you’d be spending your entire productive time of the day. As the day progresses, one tends to lose their focus and even something as minuscule as a phone notification can result into 5-7 minutes of wasted time at a stretch. Try to keep your phone away from you if possible. Keep your email application closed so that the clutter of unwanted emails and spam doesn’t distract you.
Another example one can take is If you sit in a shop and there is a lot of traffic in your area. You can try sitting in a way that blocks the street-view so that you don’t get disturbed by it.
Whatever works for you is the best thing for you.
In a Nutshell
Businesses don’t become successful on their own; they are made successful through sheer will, hard work, determination and making the most of the time available. A new business usually starts small and eventually grows bigger and better. Making the right choices and staying productive is the way to go, be it a manufacturing unit or a service shop.
If you are looking for the right solutions for your small or medium business, or even substantial and appropriate advice or mentorship, click here.