So many business aspects play into a company’s level of success, but no company can achieve sustainable success if it’s riddled with inefficiencies. Whether you run a major manufacturing plant or a small-scale shop, identifying and remedying these common inefficiencies will allow you to increase your net profits and lower wasted resources.
Identify Waste
From office supplies to employees who can’t seem to produce, the first step in creating a more efficient workplace is to identify the waste that is holding you back. It’s necessary to fully analyze the various areas of your business where you may be able to trim wasted resources in order to have a clear view of your actual present situation.
Look for Bottlenecks
Bottlenecks happen when an employee, process, or automated system can’t complete tasks because another hasn’t been completed yet. The literal or figurative pushing of the pause button wastes immense amounts of resources, so it’s important to understand why the bottlenecks happen and remedy them as quickly as possible.
Develop SMART Goals
Goals get everyone on the same page and working towards the same outcome. However, if goals are broad and generic, then they can’t ever be achieved; they become a moving target. Your business goals must be specific, measurable, attainable, relevant, and time-specific (SMART). Make your SMART goals a part of your everyday operations, so that each team member is able to ensure that his or her actions further the success of the company. Additionally, employ key performance indicators (KPIs) to evaluate the progress of the goals and team efficiencies.
Establish Systems and Processes
Inventing a new system or process takes significant amounts of time. Re-inventing those systems and processes each time a repetitive task needs to be completed is a complete waste of resources and can lead to unintentional errors. Work with your management team to establish intentional and effective systems and processes, and then fully teach each relevant employee how to use them.
Analyze the Root Cause
Root cause analysis means that you aren’t treating the symptoms of a problem; instead you are drilling down to the root of the problem. This is the only way you can truly solve a problem instead of simply putting a Band-Aid on the immediate challenge that has resulted. Each time you come upon inefficiency or process failure, ask “why” until you have found the root cause.
Streamline the Handoff
Regardless of whether you are manufacturing products or selling services, flow plays a major role in your company’s efficiency. For example, products move from research and development, through the assembly line, and into quality control. Similarly, customers move from lead generation in marketing, through sales, and into customer service. Ensuring continuous flow is essential for optimized productivity.
Developing the most efficient version of your business is possible. It takes commitment to make the changes and someone who can focus on leading the change.
About the Author
With more than three decades of experience in all facets of sales management, customer service, business growth, and staff coordination, Certified Business Coach Greg Emslie is a focused professional with the tools to help you grow and manage your business effectively.
Driven by his ability to implement proven business concepts and help improve teams, Greg affects all areas of the companies he works with, including sales, leadership, profitability, and decision-making. He focuses on improving efficiency and processes for his clients while helping them grow their revenue base.
Ready to begin finding other ways to make your company more productive? Let’s get the conversation started. Contact Greg Emslie for a business strategy discussion today!