Running your own business can be challenging. Every day you have hundreds of decisions to make and what seems like a never-ending to-do list.
It can also be extremely rewarding, both personally and financially.
Whether you are looking to grow your small business or just find new efficiencies, here’s five strategies to help reduce stress and improve productivity.
Do not disturb
Apart from a few extra zeros in the bank account, the one thing small business owners need more of, is time.
When you run a small business, you’re constantly interrupted by staff, clients, phone calls, meetings, and various tasks that need your attention and steal your time. To get the most out of your day try dividing large tasks into smaller, more manageable ones. Then set priorities in order of their importance and value they add to your business. Be realistic about what you can achieve in a day and week.
If practical, implement time blocking into every day, or at the very least, a few times a week. Time blocking is when you schedule specific blocks of time where you’re not to be disturbed. Make this consistent and advise your employees that unless a situation is critical, they should not interrupt you.
Blocking out time, even for 30 minutes to an hour, allows you fully focus on managing or completing a business-critical task. It’s an effective way to enhance productivity, as well as reduce burnout.
Time for time-saving tech
Leveraging technology doesn’t have to be expensive. In fact, there’s a lot of affordable tools available that you can utilise to boost productivity. Tech solutions can help streamline workflows, automate repetitive tasks, and reduce admin tasks to save hours of valuable time every week.
Cloud-based project management tools such as Peninsula’s BrightHR Software can simplify managing staff leave during busy periods, keep track of sick days, rostered days off, and avoid staff shortages that can impact productivity. All from the palm of your hand. Peninsula’s BrightSafe Software helps to proactively improve your safety processes to reduce risks and workplace incidents.
With remote and hybrid working, cloud-based technology is invaluable for communication and project collaboration between you, employees, and colleagues. Project and business goals can easily be shared, and teams can provide project updates instantly. Adding to transparency.
Accessing technology tools that analyse data and offer business insights can help you make more informed business decisions.
Switching to autopilot
Every dollar counts when running a small business and you can often get caught up doing repetitive, time-consuming tasks.
Automation is used across various industries to reduce errors, minimise manual labour, increase production speed, and lower operational costs. Identifying areas of your business that can be automated can save you countless hours every week.
Tasks such as data entry, invoicing, payroll and timesheets, data and analytics, as well as email marketing campaigns and managing social media can be automated. All this can add up to significant cost savings and allow you to get back to focusing on customers and building your business.
When you’re considering automation tools, they need to be flexible so they can be tailored to your specific business needs. This will allow you to customise reports, workflows, and processes. They also need to be user-friendly and easily integrate with your current systems.
Exceptional employees need exceptional employers
Many small business owners say retaining high performing employees is their biggest challenge. Even more than securing finance or dealing with rising costs.
Replacing an employee is a significant cost to any business but especially a small business. Not only do you lose all the knowledge of that employee, it takes a lot of time and expense to find someone with at least the same skill level and get them up-to-speed before they become productive.
Employees choose to leave their job for various reasons. The most common are a lack of recognition, appreciation or respect, poor leadership, minimal advancement opportunities, or not being fairly compensated for their work.
As an employer it’s important to understand different people work in different ways. Some like quiet so they can concentrate, others may prefer a livelier atmosphere with music and constant activity. Some may prefer to be told the end goal of a project then left alone to complete it in their own way, others may like a lot of direction, assuring them they’re on the right track.
However your employees prefer to work, acknowledging their extra effort or unpaid additional hours spent to complete a project can significantly enhance morale and make them feel valued. Sometimes a simple thank you, offering a surprise financial bonus (even a small one), an additional paid day or even afternoon off can incentivise other employees. They will know their efforts are seen, appreciated and rewarded.
Encouraging communication and collaboration among team members is also beneficial. Schedule short meetings to check-in with employees. Take this opportunity to ask if they’re having any problems with their workload or challenges you can help solve.
Showing you genuinely care about your employees, their success, and value how much their contributions add to the success of your business will create loyalty and reduce turnover.
Here’s a thought
One thing above all else prevents businesses from increasing productivity. That is a resistance to change. An inherent trait of people is we tend to stick to our daily routines.
Many businesses, especially small businesses, still operate under the, ‘that’s how we’ve always done it’ mantra.
However, for your business to achieve different results, you must be willing to embrace change and try new things. This could be introducing new technology or upgrades, expanding your product range or service offerings, or increasing your marketing efforts to attract new customers from a broader demographic.
The most successful business owners are those open to new ideas and implementing new procedures that add efficiency. They also ask employees, who they’ve hired to do a job every day, if they think there is a more efficient way of completing their tasks and enhance productivity.
Embracing change will ensure you’re keeping pace or surpassing competitors. It enables your business to be more adaptable and respond quickly to changing consumer habits, market shifts and be better prepared to navigate economic challenges.
Whatever your industry, business or size, streamlining operations and process to gain efficiencies and accelerate productivity is the key to long-term success.