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3 Ways to Improve Business Productivity

 

When talking to business owners and entrepreneurs, one of the most frequent issues that I hear about is working too many hours. People are spinning their wheels, spending so much time working on their businesses that they ultimately burn out. However, this is an easily fixable problem, as this burnout is mostly due to inefficient work time; just because you are working long hours doesn’t mean that you are being productive during those hours. So, here are a few ways to improve productivity in your own business:

(1) Plan, Plan and Plan!
I am always surprised to hear that there are so many business owners and entrepreneurs that don’t take a little time at the start of each day (or even each week!) to figure out what their plan of action should be. The key part of this plan is to prioritize the important tasks first, focusing on those money-generating tasks and pushing other non-essential tasks to the end of your list. A great productivity tip is to take that “dreaded” task, whatever it may be that you are tempted to put off, and complete it first. Getting it off of your plate can really put your mind at ease and increase your productivity for the rest of the day. The other key is to set designated times for completing each task and allow for breaks. You can even set a timer or alarm for each block of time, so that you can completely focus on the task at hand without having to worry about checking the clock. Planning, prioritizing and timing out your day’s tasks will really increase your productivity.

(2) Trim the Fat
So, now that you have your schedule planned out, it’s time to streamline it. Whatever tasks that you have determined to be “non-essential”, delegate them out. This will increase your productivity by freeing you up to focus on those tasks that only you can do. There is a tendency for business owners and entrepreneurs to believe that no one else can do any task as well as they do, so for basic tasks, take the time to set up easy to follow, detailed templates. This way, anyone can complete that task in the manner that you prefer. Even if you are doing the task yourself, there’s no need to reinvent the wheel every time- using that template yourself can really increase your productivity, too.

(3) Offer Incentives
Once your business time has been planned out and streamlined, an easy way to further improve productivity is to offer performance-based incentives for your employees (you can do this with yourself, too!). Most everyone gets extra motivation to perform better when there is a direct, tangible reward of sorts tied to it. For your employees, this can consist of monetary compensation when they achieve certain productivity milestones (extra money is always a guaranteed crowd-pleaser). Get creative with it; if money is tight, you can have performance-based contests and offer prizes that extend beyond money, depending on what your employees value. These can range from having extra break time, more scheduling flexibility or options for working from home or closer to home, just to name a few ideas. Using a reward like the option to work closer to home (companies like my client, Regus, offer convenient and flexible workspace solutions) can improve productivity in two ways by also reducing commute time. Reward yourself too- you’ll be surprised at how much more productive your business can be with incentives!

These are just a few ways that you can improve business productivity. What other tips do you have? Please share them below.

Thanks to Ryan Critchett of RMC Tech Laptop Repair, Elene Cafasso of Enerpace, Inc. Executive Coaching, Myles Miller of SuccessHQ, Rosanne Dausilio PhD of Human Technologies Global Inc, Susan Greene of Marketing Copywriter, Leonard Scott of Leonard Scott & Company, and Eula M. Guest, COO of Griot’s Roll Film Production for the inspiration behind some of these ideas.

Article written by
Carol Roth is a national media personality, ‘recovering’ investment banker, investor, speaker and author of the New York Times bestselling book, The Entrepreneur Equation. She is currently an on-air contributor for the national cable television station CNBC, the pre-eminent name in business news. Previously, Carol was the host and co-producer of The Noon Show, a current events talk show on WGN Radio, one of the top stations in the country, and a frequent guest on Fox News, CNN, Fox Business and other stations. Carol's multimedia commentary covers business and the economy, current events, politics and pop culture topics. Carol has helped her clients complete more than $2 billion in capital raising and M&A transactions. She is a Top 100 Small Business Influencer (2011, 2012 & 2013) and has her own action figure. Twitter: @CarolJSRoth
2 comments
iSalesGirl
iSalesGirl

Great post! 

 

I get so tired of people saying "delegate". I was wildly relieved when you suggested a template that you can delegate effectively - or use the template yourself. This works REALLY well for me. 

 

Checklists are also brilliant. I can either turn them over to someone. Or, I can follow them myself and take the "thinking" out of a regular set of tasks.

 

Very simple. Very powerful. Most people won't take the time. 

 

Love your systems UP! 

The Irreverent Sales Girl

JSuyamaSan
JSuyamaSan like.author.displayName 1 Like

Another tip that dovetails with your advice on daily/weekly plans is to statisticize your production and then set production targets. The "trimming" part works well with this concept too because you delegate the tasks to the people that are best suited for those tasks according to ability. If you measure statistics you will see a difference in putting one personnel on a task they are better suited for than someone else who may be better at something else.    

 
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