November 30, 2015
Streamline your company’s work flow – and reap the rewards
By Achim Neumann
Feel like you are being run by your business, instead of the other way around? When your company gets to a certain size, organizing its work flow so that you can work on your business instead of in it is of paramount importance.
Here’s how you can make it happen…
Track your work habits and performance over the course of a week
To drive improvements in your own efficiency, note how you use your time on a day to day basis.
Resist the temptation to step up your game during this period, as it is important to get an accurate picture of what you do and how well you perform on certain days of the week.
Once you know where you stand, the task of making changes becomes an easier one. After a week or two of completing the above activity, the 20% of activities that burn up 80% or more of your day should stand out like a sore thumb.
By cutting out habits that contribute little or no value to your core business, you’ll free up more time to focus on what will earn you more profit.
Kill the giant while it’s little
When it comes to work that needs to be completed to allow the gears of your company to turn, the most difficult, boring and unpleasant tasks are usually the ones that make the difference between a day that is productive and one that isn’t.
By getting complex work assignments, tedious reports, and uncomfortable phone calls out of the way first thing in the morning, you’ll clear the mental clutter in your head, allowing you to focus intently on tasks later in the day that can help grow your business, and in turn increase its value.
Farm out time consuming tasks
Just because you are good at something does not mean you need to be the one doing it. If you are in a position where it serves you better to be focusing on high value projects, don’t clutter your schedule with low value busywork.
Outsource or delegate tasks that take up a lot of time, but need to be addressed to ensure the continued operation of your business.
You did the books yourself when you were in your startup phase; now is the time to hand the reins to an accountant.
You don’t need to be the superhero in your business
As your business grows, demands on your time will increase, and not just from employees from within your company.
Media interview requests, other entrepreneurs seeking advice, and community organizations seeking out a partnership with you are just a few of the things that will compete for a slot in your day planner.
Knowing when to say “no” is not just vital for your productivity, but for your physical and mental health as well.
You are a human being, just like anyone else in your company; don’t feel like you have to do it all.
About A Neumann & Associates, LLC
A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or firstname.lastname@example.org