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8 Ways to Improve Your Company’s Efficiency

8 Ways to Improve Your Company’s Efficiency

It’s safe to say that every company out there wants to run their offices as efficiently as possible. That is, the idea is to offer the most and best products and services at the lowest cost. One mistake commonly made by administrators is to confuse quality with quantity.

Whether you’ve been faced with the task of improving a company’s overall efficiency, or if you just want to see where you can improve, the following tips will surely help. Here are several ways to streamline any company’s efficiency while improving quality.

1. Promote a Culture of Open Communication

Promote a Culture of Open Communication

    If your company has implemented an “open door policy,” you’re already pointed in the right direction. This is a great start, but think about taking it a step further. Too often, “open door policies” end up being hollow, rarely-used entries in employee handbooks. These are typically skimmed at best on the first day on the job. Create a culture of true open communication, and productivity will improve as a result of a more positive office morale.

    Encourage communication, collaboration, and feedback between departments, as well as between management and staff. This will liven up the stream of ideas, resulting in a more productive team overall.

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    2. Implement Smart Mobile Devices

    Implement Smart Mobile Devices

      Smartphones, tablets, and other smart devices are an exceptionally effective step toward enhancing productivity. Provide sales staff with smartphones to help them keep in touch with the office via phone and emails while out on sales calls. Tablets give them the ability to create and modify presentations on the go, and there are countless apps available on both these devices that are designed to improve productivity by helping to combine and prioritize tasks.

      When you implement a smart mobile device management system, you will put your company on the fast track toward more effective procedures. This will (in turn) bring a better-quality experience for clients and employees alike, resulting in a stronger bottom line.

      3. Embrace Feedback

      Your employees have opinions. Encourage the entire company to embrace feedback, both positive and negative by creating an outlet for it. It’s a good idea to designate a general hub in the building for staff to communicate and make suggestions about the company. Many choose to do this through a specific website centered around human resource issues, serving as a one-stop-shop for work-related issues and updates.

      For startup companies and small businesses, a more personal — and affordable — approach to this is to hold weekly or monthly meetings to share ideas. You could also use a bulletin board in a central part of the office as a place to share ideas.

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      4. Get a Technology Update

      Get a Technology Update

        Take a look around your main office space. Are your employees typing on 10-year-old monitors connected to antiquated computers? It will undoubtedly seem like a major cost at first glance, but updating employee computers and software periodically is an absolute must. Considering the most basic factor of productivity is speed, equipping office computers with the most efficiently run software and hardware should be the first thing you improve.

        You may be able to get by with a simple hard drive upgrade or RAM boost, but those computers will need regular maintenance, and some in-depth attention every few years. If it has been more than six, it’s time to upgrade the system entirely.

        5. Consult Ergonomic Standards

        Consult Ergonomic Standards

          Have you analyzed employee workspaces for ergonomic standards? It will certainly be in your best interests to brush up on ergonomic standards, and to educate staff on the basics. Bring in a professional and hold a seminar to fill them in on standards. If that’s not in the budget, educate yourself on the key points, and make sure the lifeblood of your company are taken care of in this aspect.

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          Supply staff with office equipment that comply with these standards, such as chairs, foot rests, and keyboards. Don’t look at this as an expense; rather, it’s an investment that will likely yield profitable returns through enhanced employee productivity and lowered worker’s compensation claims.

          6. Streamline Social Media Marketing Efforts

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            Social media is proving to be one of the most viable marketing tools available these days. It’s most certainly a hot topic, and one that isn’t to be ignored. Utilizing these platforms to promote your business is extremely important, but really shouldn’t be a major time concern. A few hours spread out each week ought to be enough to adequately keep up social media accounts for the average company.

            Do yourself a favor and urge your social media coordinator to utilize streamlining apps like HootSuite, Sprout Social and MarketMeSuite. These programs combine social network accounts onto one convenient dashboard, making it easier to control and post to each in a timely manner.

            7. Analyze Employee Processes

            Take a poll of your current employees to gauge their overall efficiency. Have direct supervisors spend an hour or so with each department to determine how each team handles individual tasks. Then meet with these supervisors to compare notes, and discuss whether there is a faster, more efficient way of doing things.

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            This activity will be greatly enhanced by the increased communication practices mentioned earlier. When everyone collaborates like this, more work gets done. As an added bonus, there is a bigger sense of ownership when employees are able to take part in modifying procedures.

            8. Set Achievable Goals

            Once all of these tweaks and changes are made, it’s time to set some realistic goals. Set over-arching, broad goals for the entire company, and then work with department heads to decide which goals to set for each department, and finally, for each employee.

            Setting realistic, tangible goals this way will provide much-needed motivation. To bring this whole process full circle, once these goals are met, plan a company-wide activity such as a potluck, where everyone can relax and enjoy each other’s company, while celebrating their success.

            The task of improving a company’s efficiency can certainly be a daunting one. Don’t be intimidated by the enormity of the situation. Rather, consider this a chance to make your company one that anyone would want to work for, and make it more efficient at the same time.

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            Last Updated on May 15, 2019

            10 Most Successful Entrepreneurs and What We Can Learn from Them

            10 Most Successful Entrepreneurs and What We Can Learn from Them

            Apart from making crucial decisions for their own businesses, entrepreneurs innovate and grow their ideas. Albeit there being no cookie-cutter answer that fits everyone’s experiences, taking a look at some of the most successful entrepreneurs today, you might spot some similar traits and characteristics.

            Starting and nurturing a business entails a great amount of hard work and commitment. However, for aspiring entrepreneurs who are prepared to dedicate themselves to their vision, here are 10 most successful entrepreneurs you can learn from:

            1. Melanie Perkins: Know Your Worth and Keep Trying

              Melanie Perkins founded Canva, a Sydney-based business valued at $1Billion having successfully raised a number of rounds of successful funding and boasting more than 10 Million users in 179 countries.[1]

              She told BBC that one of the biggest challenges she faced getting into the business was talking about her company’s accomplishments when she first got to Silicon Valley. She attributed this difficulty to a cultural difference where Australians tend to ‘talk down’ their achievements and this would slow down her fundraising progress for a few years.

              Despite hundreds of rejections, Melanie emerged three years later with a much clearer strategy and stronger investor pitch that prompted a series of fundraising rounds netting the company $82Million of funding in total.[2]

              2. Bill Gates: Keep Learning and Exploring

                If you don’t know Bill Gates, you likely know the company he founded – Microsoft.

                Bill Gates’ story is a prime example of nurturing an idea that might seem out of this world but make sense in the future. One of the most successful entrepreneurs in history did not complete his degree at Harvard University to pursue a vision that the technology would soon become the future.

                He told a white lie to Altair, saying that he had made a computer program for them, therefore pushing himself to create a system that would change modern history.

                “The most important speed issue is convincing everyone that the company’s survival depends on moving as fast as possible.”

                Gates’ success is built on self-improvement and the seeds of an idea.

                3. Elon Musk: Never Stop Innovating

                  Traditional thinking suggests that in order to become a successful entrepreneur, one must focus in a single field or industry.

                  Elon Musk, however, breaks that rule.

                  Today, the multifaceted tech entrepreneur, investor, and engineer advocates for the diversification of skills and businesses by delving into various fields of interest.

                  When done right, skills in a single domain can be carried over then applied into contrasting industries to create something new the world might need. Musk owes his accomplishments to a constant thirst for knowledge.

                  Having birthed Tesla and a myriad of products across the arenas of aeronautics and software design, Musk continues to evolve as an entrepreneur and plans to innovate for the long haul.

                  4. Richard Branson: Develop People First

                    British entrepreneur Richard Branson founded Virgin Records in the early 1970s. Virgin Records has since grown into the Virgin Group, today responsible for over 400 companies.

                    The billionaire is strongly particular about working with a team that shares his core values and aspirations.

                    Branson believes that managing a business can become taxing, thus he acknowledges his employees for putting in the effort that they have.

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                    A good leader knows how to raise morale for positive productivity. Utilising emotional intelligence and compassion is a game changer in seeing results within a team.

                    Branson’s supports the idea of nurturing a positive work environment, with the belief that credentials must go hand-in-hand with an enthusiasm for work.

                    5. Jeff Bezos: A Relentless Focus on Customer Satisfaction

                      Having founded Amazon, Jeff Bezos is known to be one of America’s most successful entrepreneurs. The e-commerce pioneer fixates himself on angry customers with the belief that a business’s loopholes are found in the experiences of unsatisfied customers.

                      For the 8th year in a row, customers have ranked Amazon as the number one in customer service (according to the American Customer Satisfaction Index).

                      While numerous companies ignore unhappy customers, Bezos found success in learning from reviews and surveys. By focusing on customer service, Amazon shows they care, both for their customers and for rising above their competitors.

                      While praise and recognition are signs that a business is accelerating, criticism is an opportunity to improve a product or a service.

                      6. Mark Zuckerberg: Start Small, Think Big

                        Valued at over 55 billion dollars today, Mark Zuckerberg built the first version of what would become a social networking giant in his Harvard University dorm room. As one of the world’s youngest entrepreneurs, Zuckerberg undoubtedly took countless calculated risks to get his brilliant idea to its current status with 2.38 billion active monthly users.

                        “The biggest risk is not taking any risk.”

                        He’s always daring to explore with a fearless mindset.

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                        The young tech entrepreneur never shied away from innovating outside of the box. Soon after Facebook became a hit to users and advertisers, big corporations took interest in buying Facebook from Zuckerberg.

                        However, he took the risk and decided to stay with his creation. Turning down billions of dollars offered by Yahoo CEO, Terry Semel, he envisioned turning his brainchild into something much bigger than what it already was then.

                        7. Steve Jobs: Live Your Own Dreams

                          Steve Jobs lived a rocky path all his life and an aspect of which is a tumultuous career.

                          The founder of Apple endorsed his beliefs on the temporality of life and limitations of time. He preached about the importance of working on the very legacies people wish to leave behind, an achievement he’s undoubtedly etched into the the archives of human history.

                          Never one to hide under someone’s shadow, Jobs did not live by anybody else’s principles so he formed his own. He tirelessly dedicated himself to building a unique brand of products that became the benchmark for contemporary technology.

                          After his highs and lows through his brief battle with cancer, Jobs concludes with yet another lesson to takeaway from his remarkable life. “No matter how much money you have, even the richest man can’t buy time.”

                          8. Warren Buffett: Balance is Essential to Success

                            Despite being the third wealthiest person in the world, Warrant Buffett sported a frugal lifestyle for most of his life.

                            After buying a house in Omaha, Nebraska for just above 31,000 dollars, he has lived there since 1958. As a leading investor and a founder at Berkshire Hathaway, Buffett believes in setting aside an amount to save and spend only on necessities.

                            With a long term goal as a top priority in mind always, treating oneself can be sustainable once in a while. He advices to save money by deciding first and foremost what aspects to scrimp on and what aspects to splurge on to ensure a happy and balanced lifestyle.

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                            9. Jack Ma: Never Give up

                              On every journey to success, everybody stumbles and arrives at roadblocks. Some more than most, like Jack Ma, who survived countless rejections and failures only to get back up and brave every storm.

                              Ma is the founder of multinational technology conglomerate Alibaba Group. Despite being rejected to Harvard after every one of his 10 applications, Ma was never defeated.

                              His grit and tenacity is a fine testament to the fact that grades do not determine a future. While qualifications on paper are important, the development of skills and an attitude is just as helpful in making a recipe for success.

                              Despite finding himself in the verge of bankruptcy in the 1990s, Jack Ma possessed the resilience to put one foot in front of the other until he finally made it. “It’s important to have patience,” he says.

                              10. Tan Min Liang: Passion Can Pay Off

                                Tan Min Liang is the founder of the leading high-performance gaming hardware, Razer. Always on the look out for new opportunities to connect and scale his business, Tan has been bold in making many of his life’s decisions.

                                Having deviated from a traditional path set by a family that consists of doctors and lawyers, Tan was to find his life’s work and passion while gaming with his older brother.

                                The idea was simple: there were so many games out there to play, however, there were hardly any gaming equipment to match this.

                                So he dropped out of law and began going a different direction, into creating solutions in the gaming industry. At the start of 2019, Tan wrote to tech luminary Elon Musk to which Musk’s reply suggested of a joint venture between two of the most successful entrepreneurs today.

                                Final Thoughts

                                In today’s cutthroat world, the road to becoming a successful entrepreneur is a long and arduous process trailed with ups and downs. A valuable lesson that a good hand of entrepreneurs would love to convey to aspiring entrepreneurs is to keep the spirit of innovation and to explore uncharted waters.

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                                Learning from experience and failure is one direction to a desired end goal. Exhibiting the same dedication and grit so many entrepreneurs have through their unexpected careers – today’s budding visionaries ought to hang on their dreams and leave room for improvement along the way.

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                                Featured photo credit: Patrick Tomasso via unsplash.com

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