A modern business needs a lot of things to be successful.
High-quality products that capture the attention of your target market are an excellent first start. However, you also need robust marketing strategies, a strong team of dedicated workers, and a plan for continued growth and evolution.
A good company is like a well-oiled machine. One cog turning out of time could bring your entire enterprise grinding to a halt. That’s why it’s so important to be aware of the things that are slowing down your crucial processes and preventing your company from reaching its true potential.
Today, we’re going to be looking at some of the things that could be hampering your everyday business processes, so that you can make a valuable change.
How many people in your business are wearing multiple hats?
The chances are that if you’re a small and growing company, you have endless executives and employees rushing from one task to another. You may even be asking your team members to take part in activities that aren’t closely connected to their job roles.
While it’s fine for everyone in your organization to pitch in a little extra at times, it’s important to make sure that this doesn’t give way to constant multitasking.
Research proves that multitasking kills productivity and reduces the quality of the work produced. That’s because when you’re multitasking, you’re continually forcing your brain to switch from one thing to another, so you can’t truly focus on anything.
If multitasking is a common problem in your organization, then it might be time to reassess your workflow and see where you can create more focused teams. Try to give the right task to the right people to prevent inefficiencies.
Maybe allowing your senior leaders to delegate more of their work will make them more successful. Perhaps taking extra jobs away from lower employees and keeping everyone focused on their areas of expertise will help.
The last thing you want for your business is that your employees don’t have time to do the job they were hired for.
If you have to switch employees between different tasks frequently and it’s slowing down work progress, maybe it’s time to add a new employee to your team. Alternatively, look if some processes can be outsourced to a company or a freelancer.
#2 Inefficient Meetings
Increasingly, companies are beginning to feel as though most meetings are nothing more than a waste of time. For years, we relied on face-to-face interactions in boardrooms to make sure that everyone in our team remained on the same page.
However, by now, we have learned that this kind of disruptive activity is no longer necessary.
Although the occasional meeting can be useful to connect your employees and bring people together in a more intimate environment, most of the time, you can switch a meeting out for broadcast on a collaboration app.
You could even consider allowing your employees to dial into a video meeting so that they don’t have to leave their office.
Pulling your team members out of their workflow so that they can take part in meetings when you could have shared the same information in an email is a dangerous waste of time.
The next time you’re planning a meeting, ask yourself whether it’s necessary to bring people together in a conventional sense. If it is, ensure that you’re only inviting the most relevant people to the room.
Once they leave the meeting room, everyone should know exactly why their input was required and what are the next steps they need to take.
#3 Lack of Insights
Let’s face it – data makes the world go around. We’re living in an era where information is everywhere, and it’s crucial to making our companies more effective.
The good news is that the majority of today’s companies have systems in place that allow them to capture intelligence information from everything from their sales calls to their marketing campaigns.
The bad news is that most organizations simply don’t know how to use their insights to improve their business operations. If you’re not taking advantage of the benefits of real-time and historical data analysis yet, it could be the perfect time to get started.
Sit down with the other leaders in your team and figure out some goals that you want to accomplish. From there, you can determine what kind of information you need to reach your goals.
For instance, if you want to make your marketing campaigns more successful, it makes sense to look at the marketing initiatives that have worked for you in the past.
You might also want to tap into information about your target audiences and their pain points too. This data could help you identify areas that you can improve to offer your customers an excellent experience at every touchpoint with your business.
#4 Preventable IT Issues
Finally, another thing that we’ve come to recognize in the digital era is that IT can either be your friend or your enemy. In many cases, the right technology in your company’s landscape can accelerate growth and generate new opportunities.
Knowing how to make the most of the assets at your disposal can significantly improve daily business operations. Implementing some new solutions can help you get there, too.
AI and machine learning are no longer terms out of science fiction novels. People have taught robots to interact with each other and with other people, and solve problems in the process.
For a great example of how this achievement can speed up daily business operations, just look at chatbots. Chatbots can drastically reduce the time it takes to answer repeat customer questions and queries. Your employees could spend this time on more important tasks and projects.
Also, chatbots can work around the clock. There’s no denying that having a 24/7 customer service is a great asset to your business. However, due to the high costs of maintaining a contact center, in most cases, it’s not a viable solution.
In such scenarios, chatbots can step in, respond to simple queries, and redirect more complicated issues to a human.
Chatbots enable you to reduce time, money, and human labour, which you can then reallocate into growing your business.
If you have enough people on your team, offering live chat is another way to bypass long workflow procedures and ticketing systems that might be annoying to your customers. An agent can handle more than one chat at a time and still give the customer a personalized approach.
The list of benefits of a live chat for a business is long. It boosts customer convenience, satisfaction, and loyalty, helps your business respond to their pain points faster and opens another channel for upselling.
However, there’s also a chance that poorly-managed technology could slow your business down and stop your team from completing their goals. Remote working trends or bring your own device trend (BYOD) are especially sensitive to these issues.
While it’s always possible that IT issues might happen in your workforce, you can put strategies in place to protect yourself from any major downtime or disruptions.
For instance, teaching your team members how to manage work equipment on their own, and providing them with the knowledge to troubleshoot any issues they face means that you can keep your organization running smoothly.
At the same time, this frees up time for your IT employees, who can focus on finding ways for you to use technology to accelerate your business growth, rather than just responding to the same old preventable problems.
Time to Speed up Your Business Growth
A company is a dynamic and ever-changing thing. Unfortunately, it’s also very fragile. When something as small as a single process doesn’t work properly for your company, you begin to see negative repercussions everywhere.
The good news is that taking the time to examine your business workflow and figure out areas where systems can be improved can make your venture more efficient and successful.
From working on preventable IT issues to reducing the number of meaningless meetings your team members are exposed to, there are plenty of ways that you can make your company into the well-oiled machine that it needs to be.