Business growth and success are driven by business processes that need to evolve and adapt to your company’s success. If they remain stagnant, you’ll find your resources and time are no longer optimized and your employee’s job satisfaction is on a decline. Prevention is better than cure. In order to do this, you’ll need to look closely at your business processes to see what needs to change, alter, or remain.
3 Benefits to improving your business
Without business improvement and reassessing your company’s processes, many resources can be wasted whilst costs continue to grow. Plus effectivity and efficiency take a dip and reflect on your business’s overall performance and growth.
However, as you take the necessary steps to reevaluate and improve your company’s workflows and processes, you can expect to see the following improvements take place:
#1 Remaining top-notch in your industry comes with adapting to current trends and newer technology. As your company and management seize new opportunities and adapt to ever-evolving regulations, your business will continue to be a leader within your niche.
#2 Effectiveness improves as you tweak and adjust the way your staff does things. This will increase customer satisfaction, improve project quality, and ensure that your staff are meeting deadlines timeously and effectively.
#3 Improved efficiency will occur as you adjust or remove those areas that are sapping up company time and resources
Three business improvement methodologies
According to Jon Knotts’ article for Forbes on business improvement, companies looking for growth can choose between the following three methodologies:
#1 Incremental improvement in which businesses bring small changes aimed at growing the company over time. Small and steady changes allow for your company and staff to adapt gradually and see results.
#2 Transactional improvement happens when a company will move from one thing to another such as moving from a paper-based focus to a more cloud-based one.
#3 Transformational improvement is when a business will do a complete refocus or reshape possibly even with new branding.
In this article, we are going to focus more on improving your business processes in an incremental way by highlighting some of the areas we believe can bring greater time management, profitability, and efficiency to your business.
Improving business processes
The first step to improving your company’s processes is to evaluate what your processes are and how they are performing. Which ones are working well for your business? Which processes need to be updated or removed altogether? Another thing to look at is your customers’ satisfaction levels with your current business operations, delivery times, and product/service quality.
As you continue to assess your business processes, consider using flowcharts to help you see each step of the process. This will help you identify specific areas to work on, remove, or keep. There’s no need to fix what isn’t broken or even reinvent the wheel. The idea here is to enhance what is working well for your business and put in place further steps to take your company to the next level.
Finally, speak to the people involved with the parties (employees, managers, customers) in order to gather more information regarding your business process and feedback on the new changes you’d like to put in place. This will ensure a more collaborative and effective approach to improving business processes and effectiveness. Plus, you’ll find the relevant people more willing to collaborate, adapt and contribute to the changes you’d like to see implemented in your business.
Become strategic with time management
One of the crucial business processes to evaluate is that of time management. Whilst using time management software like TallyPro will improve efficiency, productivity, resources, and more, taking a more strategic approach to managing your time may further expedite these benefits. According to Forbes, 60% of your employee’s and managers’ time should be focused on projects, tasks, and jobs, The remaining 40% of your time can then be divided into 20% of working hours focused on strategizing ways to improve customer satisfaction, performance, and profit; and the remaining 20% of the time is dedicated to planning as you and your managers focus on which resources (monetary and time) to assign to each project or task.
Summary
By choosing an incremental business methodology for your business improvement plans, you’ll see your company improve in both efficiency and effectiveness whilst maintaining a greater level of flexibility. Such benefits will appear as you work with and evaluate your current business processes and work with your staff, managers, and clients to improve the way you provide quality goods and services. In addition, greater time management strategies will enhance these benefits further whilst keeping your company as a leader in its niche.