Posted by: garispang | June 17, 2009

How To Improve Your Business Efficiency

An important key focus every business should not over look is improving the efficiency of their business. If you can save X hours a week this will increase your profit by around X%. If you don’t know what the “X’s” are …. you need to figure it out. Those are numbers you should always consider any any planning and decision making. This will ensure you continue to deliver a consistent and quality service to your clients.

You can start by identifying the largest bottlenecks …. and then started working through the list in order of priority (biggest positive impact on your bottom line).

Here’s some example actions you could consider ……..

* Develop a process document for each product. Create templates for meeting agendas and brainstorming sessions

* Set up a default diary (e.g. Monday – planning, Tue-Thur – client work and business development, Fri – review, finance management and product development)

* Reorganize the documents in your computer system as per the flow of your business e.g. business planning, marketing and sales, client work, financial management, product development

* Purchase and set up ACT! to manage relationships

* Synchronize your laptop and computer

* Set up purchase orders in MYOB so you can forecast your cashflows faster

* Hire an operational efficiency expert to help you organise your office and implement their recommendations

* Lay office out as per the flow of your business e.g. filing cabinets and shelving all follows the process of business planning, marketing and sales, client work, financial management, product redevelopment

* Color coding your files as per above flow of your business

* Buy a new filing cabinet

* Buy a ptouch labeller

* Buy a planning board and locate in front of your line of sight

* Buy a brainstorming board and put it on the wall.

OK …. above is a good roadmap to get you started on the way to improving your business efficiency. Of course you can add on any other ideas you brainstorm that also lead to the desired impact. Don’t hold yourself back …. be creative, simplify, organize, stay on track.

Business EfficiencyBusiness efficiency
Re-engineering business processes to remove re-keying of data and inefficient processes and introduce ‘better’ ways of doing business.

Business growth
Checking every client adds to business profitability and that case sizes and sales per case are increased.

Business transparency
Allowing the business to see everything that is happening though effective management information and reporting.

Business scalability
Ensuring your solution can cope with increasing users and that your processes are scalable and measurable.

Business effectiveness
Giving the adviser the tools they need to give quality compliant advice to build long-term relationships with their clients.

Business control
Locking processes in line with compliance and management information requirements.

Business compliance
Meeting the requirements of the regulator cost effectively and with minimal disruption to the business. The result – you have more time to spend with your clients.

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