Owning a business in the present digital world is not a big deal. Today, many are capable enough to start a business of our own from the scratch. And, this has been possible due to the information available to us. In the age of digital transformation, everything has changed and information is readily available. But, as simple as it looks, owning a business is never equal to successfully running it. Yes! the easier it is to own a business today, the tougher it is to keep the metrics of your business higher. This is due to the increasing competition in every domain. But don’t be disheartened! If you have the right management skills and you know how to manage your business to increase productivity, then you will certainly thrive. Through this article, we will discuss 5 tips to boost your small business productivity.
How to increase the productivity/output of your small business?
Increasing the productivity of your business is a task that requires time dedication and strong will. Moreover, you will also have to be wise and smart at the same time. If you are working hard and not working smart then you might not be able to push your productivity over the top with limited resources. Resources are something that is a luxury for small businesses and if you work wisely and smartly you can leverage the available resources efficiently to maximize your productivity. So, below are the tips that will help you do the work smartly and boost the productivity of your small business.
1. Workplace environment
It is important to have a suitable environment for your workplace. Now, since everything is going digital, ensure that even your digital office has a friendly and yet disciplined environment. If you let your workforce take things casually for you there are chances that things won’t go your way. But, this does not point towards being extra strict and harsh to your employees. So, it is important that you have a balanced, organized, friendly, and yet disciplined workplace environment.
In case you have a digital workplace setup, ensure that you utilize the best online office software to track the work hours of your employee. Also, to ensure that things are disciplined, it must be made sure that checkpoints to crosscheck the daily work progress are made.
For Example: If you are a data management firm. You need to ensure that the project sheet on which your employee is working is shared with their manager and that he has an access to cross the work progress at any hour of the day. Ensure that things don’t get too complicated and the workflow is smooth.
2. Use of Digital Technology
We are living in an era in which if you don’t use the online tools relevant to your business to the fullest, you are not doing your best to gain profit. As a small business, your focus should be on leveraging digital technology to the best for meeting all your needs. Such tools can serve in communication, management, data handling, human resource, Branding and advertising, sales and promotion, and much more. So, ensure that you have a dedicated workforce handling this part and ensuring that the best is being extracted out of these tools.
For Example: Suppose if you are a small apparel brand, it is important for you to use digital software like Adobe Creative Cloud, Canva, Crello, for creatives. Other than these you can use software for ERP (Enterprise resource planning) and Apparel Management. You can also take the help of Social media and digital marketing for branding purposes.
3. Accounting and Finance
It is very important to manage the flow of revenue and ensure that sufficient sums are being allocated to the right departments. Now, this is not possible without lingering bills and inflow and outflow of revenue. To make the work easier for you there is various accounting software available in the market. They, if used correctly, can just take away all your accounting-related woes and you can easily manage all the money coming and going in your business.
However, while choosing accounting software you must be very careful and highly aware. There is much software that might not be able to keep your data secure. Since you are sharing all the accounts related data, you must first ensure your safety of yours. In my opinion and from what I know about accounting software, Intuit Inc. owned Quickbooks is a good option. It is affordable and secure and provides commendable support if needed. However, they have made you reliable to eliminate software errors if any.
For example: If you are a small FMCG company that delivers goods to the wholesalers weekly. However, you import the raw material required Bi-weekly and release payroll monthly. With software like Quickbooks, all you have to do is fetch the data and it will do the rest.
Every software is prone to error, but most are unable to provide you resolution. But, trust me, Quickbooks has amazing troubleshooting options. As a first-hand experience, while using Quickbooks, I came across Quickbooks Event Log Error 4 during my daily task. I was able to rectify it within a moment with the help of Quickbooks Tool Hub.
4. Short Term Goals
The short-term goals are something that keeps the work pace constant. So, make sure that your firm is dedicated to meeting the short-term goals. This will help you in achieving various goals one by one and hence help you in growing at a faster pace. Also, don’t just keep the goals to yourself, communicate them with the employees and encourage them to achieve the target under the set time limit. Also, the achievement of these goals must be rewarded by small gestures. It can be a small pizza party! But, it works magic and your employees are motivated.
For Example: Suppose you own a small Food Joint. Now in order for you to grow, you will need to ensure that more people visit you. So, you will set up a daily or Weekly sales target. If your employees achieve it using the right and long-term measures, they deserve appreciation and it’s time for you to reward them, maybe with a minor Incentive.
5. Employee Wellbeing
You are a small firm, and you have limited resources. It is tough to earn the trust of your employee. It is tougher to create a good image so that it is consistent with you. Also, as an employer, it is your duty to keep a check on the well-being of your workforce. A fit and fine workforce are way more productive than a tired and unwell one. Suppose, if you are making your employees make work an extra hour without paying them for it. Also, you make them work relentlessly. This will impact the productivity of your organization., You might get the work done but the quality will certainly suffer. Without quality growth is non-existent.
So, ensure that your employees are happy, emotionally fine, and physically fit. Make sure to interact with them and take regular updates like a mentor. This will help you in keeping the workforce attached to you and the small business. Also, they will perform much better.
It is understood that when running a business, factors like communication, health, office environment are also equally important to that of the technical aspects. Hope that this article is something that will help you boost the productivity of your small organization. Do level feedback in the comments below.