If you’re looking for ways to make your business more efficient and profitable, check out these process improvement steps you can take to streamline workflows!
Did you know that every year companies lose 20 to 30 percent in revenue due to inefficient processes? Is your company one of them? Even if you aren’t noticing any losses, there’s always room for improvement.
Maybe it isn’t the first time you have considered making changes in your work processes. There isn’t a must follow rule when it comes to streamlining business processes. Every business has its own needs and your process improvement plan must fit your needs.
Not sure how to improve your processes? We’ve you covered. We’ll tell you 9 process improvement steps you can apply to take your business to the next level.
Ready to get started? Here are some ways you can streamline your work processes to take your business from zero to hero in no time.
Automation can do wonders for any business. At first, you may not be able to automate many processes if you run on a tight budget. But, you can develop your plan and set automation phases.
If you are running a manufacturing plant, you may consider automating the most time consuming or high-cost step in your production. Automation can help you lower your payroll while improving your production output. It can open the doors to those big clients you have been dreaming about helping since you opened your business.
Meetings can be time consuming and inefficient. You may run daily meetings huddling many departments into one room to discuss issues back and forth for an hour or so. These meetings drain most employees and many times don’t render the results you aim for.
Many experts and company founders have found daily 10-minute meetings the best way to tackle issues fast and efficiently. Your meetings shouldn’t be longer than 20 minutes. When you keep your meetings short, your team will tackle issues faster and reduce friction between teammates.
Today, we live in the world of the neverending multitasking. You may think it’s old school. But, you should aim for efficiency instead of trying to complete 10 tasks at the same time.
Your employees should focus on tackling their day to day tasks one at a time. If you run a focused operation, you will improve your speed and revenue.
Many entrepreneurs say patience is necessary for success. This rule applies to all your business projects. Your partner, investor or client may try to push you into speeding your project.
Don’t fall into the trap of cutting corners to launch your product or project earlier. You developed the project process for a reason, so stick to it. Following your process will protect your quality and business reputation.
As a business owner, you may want to do everything yourself. Yet, sometimes the best way to grow your business is outsourcing some of your processes. Maybe you have your own marketing department that runs all your campaigns and produces all your branding materials.
But, you may consider outsourcing the printing of these materials to someone like this company. By outsourcing, you can free your marketing department to focus on market penetration to grow your sales.
In today’s fast-paced business world, you may prefer to send an email or chat message to a team member to speed the process and move on to the next task. Most times, this results in going back and forth for a long time, when the issue might’ve been solved with a short 1-minute face to face chat.
Like some say, two heads are better than one, establishing this company culture will create a synergy between your departments. It will help you solve issues faster, improve your efficiency, and create a sense of community in your business.
Even if your business grows into a national empire, you must stick to a small business mentality. Establish an open door policy where every employee feels heard and cared for.
Your employees shouldn’t have to try to jump through hoops to suggest changes or communicate their worries. Following this policy will help you spot issues earlier and develop employee loyalty.
If your budget or type of business isn’t built for automation, you can streamline your process taking a hard look at your costs. Where are you spending the most? Is it on your payroll or product development?
Once you spot these areas, you should look for ways to reduce your costs while increasing your revenue. Focus on lowering your costs while servicing your customers at the same quality level.
According to experts by the year 2020, customer experience will be king. If you haven’t focused your efforts on your service, there’s no better time to start than today. Remember that your customer expects great pricing but, they value your product and service experience more than a price tag.
Some business owners focus on improving processes and forget about the big picture. Why did you get into the business in the first place? You saw a customer need and developed a company or product to fill it.
When you automate or streamline your work processes always aim to preserve your company essence. Don’t sacrifice what makes your company different from your competitors for speeding your processes or reducing costs.
Yes, applying our process improvement steps can skyrocket your business growth in no time. There isn’t a one size fits all formula or plan. First, you must assess in what areas of your business there’s room for improvement.
What issues are your customers and employees experiencing? Is there an issue with your production output? These are some of the questions that can guide you to develop the best streamlining plan for your business.
It’s recommended to take small steps and test if your new processes make a difference. Certain process improvements may work for some businesses but, not in others.
As a business owner, improving your efficiency turns into increasing your revenue and profits. The possibilities are endless in today’s driven business environment. But, only if you focus on what makes your business different from your competitors.
Want to skyrocket your profits? Read our article to learn easy ways to boost your profits in no time.