Wednesday, 19 June 2013

How To Best Increase Efficiency And Profitability In Your Business

Business Efficiency
Often, an entrepreneur will have a great product but will have difficulty making a lot of money. When running a company, one must understand how to increase their efficiency of operations. When doing so, the business can get to the next level and begin generating profit. Furthermore, with the business environment so competitive and the economy performing poorly, it is more pertinent than ever to cut costs and increase revenue. Here are four tips on how to increase efficiency and profitability in a business.


Outsource

When using technology and the Internet, one can outsource some simple tasks. When hiring a contractor, the employees can concentrate on essential tasks that bring revenue to the business. Fortunately, there are plenty of resources on the Internet to find a virtual administrative assistant. Ideally, when hiring an assistant, the company should give the contractor a trial run. When doing so, both the contractor and employer can decide if there is a good fit. Without a doubt, a company that wants to grow must use a virtual assistant.


The cloud

A company should host all their files on the Internet. When putting files on the cloud, employees and contractors alike can access data from anywhere in the world. While it is important to have easy access to files, a business owner must choose a solid and reliable company. To find a reliable file host, ask for references from other entrepreneurs. Remember, people work from all over the world, and it is crucial for employees and contractors to have access to the same data at the same time.


Analytics

Most companies have a Web presence. While this is true, some businesses do not take advantage of their website enough. The easiest way to improve a website is to track the habits of visitors to the site. When using Google Analytics, the webmaster can understand where visitors are coming from, what they click on, and what causes them to leave. One must realize, to improve efficiency, it is crucial to understand the mindset of users.


Flexibility

Employees should have flexibility when it comes to working hours. Numerous studies have shown that employees are more efficient when they work hours that they choose and that are best for them. Remember, some people work much more efficiently in the morning while night owls prefer to start later in the day and work at night. There is a side benefit to allowing employees to choose their own hours; an organization will have an easier time recruiting workers when they allow workers flexibility in their shifts and they can appeal to a global market.

An entrepreneur who understands the importance of efficiency will succeed. Luckily, a business owner should have an easy time following these four tips. When followed, you'll be much more productive and profitable. One must remember that the difference between a profitable business and a failing business comes down purely to efficiency.


Did you find this article helpful? Please let me know by leaving me your valued comments.


If you found this or any of my other posts helpful, don't forget to share the posts to your favourite networks using the toolbar below or by using the "+1" and "Share" buttons located at the bottom of each post.

As ever, if you want to stay up to date with the latest blog posts, don't forget to follow via Google Friend Connect (button on sidebar), on NetworkedBlogs, via Email (maximum of one email per day), on Facebook and Google+ or by subscribing to our blog feed at:
http://feeds.feedburner.com/DereksHomeAndBusinessBlog

You can also follow me on Twitter @djones1509, Google+ and on Facebook at:
http://www.facebook.com/djones1509
https://plus.google.com/104849975941505117776

Until my next post on Friday with steps to taking your brand social, enjoy the rest of the week!



© 2013. This article is DMCA protected. Republication is prohibited.

0 comments:

Post a Comment

Please note: To combat comment spam, non-constructive comments and comments containing links will be rejected. All submitted comments are subject to moderation before they are published on the blog.


I have had reports that some people have been experiencing problems when commenting on the blog. If you experience any problems when posting your comment, please send me an email with your comment plus the post title using the Contact tab above and I will manually include it for you. You can also send your comment via private message on Facebook or email on Google+.

Your blog comments are always appreciated and thank you for your patience while we try to resolve this issue.