Increase efficiency to maximise your profit
Ways to improve your business efficiency
To run a successful business, you need to be efficient and well organised. Inefficient operations can quickly affect your bottom-line.
How can a company improve efficiency?
There are simple ways of improving efficiency in a number of business areas, including:
- customer service
- distribution and delivery
- wastage costs
Your customers are the most important resource in your business. By listening to what people say about your company and products you can greatly improve the service you provide.
Increase customer awareness
Customer awareness of your business is vital in generating interest in your products. You can increase customer awareness through:
- marketing, including through social media - see more on social media for business
- making the most of your website - read about best practice in web design
- encouraging word of mouth from your loyal customers
Improve customer experience
The experience that customers have when they buy your products or interact with your staff will determine whether they return to buy more goods from you. You should:
- make sure their experience is easy and enjoyable
- ensure you have an efficient workflow so that waiting times are kept to a minimum
- communicate well with customers so that they are not put off coming back to you
- make it easy for customers to give feedback, either directly to you or through surveys, online forums, etc
Audit your processes
Map out a workflow to describe processes your employees should follow when selling your products. By looking at all the tasks they need to carry out, you can often spot opportunities to save time and avoid duplication of work. This may include redesigning the way your staff work with digital and physical content to ensure they use their time efficiently.
Build relationships with your suppliers
Talking to your suppliers can often provide valuable insight. Suppliers are working with the same products as you, and speak to your competitors as well. Learn how to negotiate - small extras can add up and often negotiating will result in better relationships in the long run. See how to manage your suppliers.