Business Growth – Improving Productivity
Productivity is an issue in most businesses. A business and it’s team is either productive or it’s not. A productive business supports business growth; a non-productive business strangles it. In today’s market, where budgets are tight, the expenses line has been placed on a diet and revenue is closely monitored, productivity is required to be at the optimum.
It’s an interesting topic for business growth. The definition of productive is producing or able to produce large amount of goods/work. So that means that a business must have the capability to be able to produce large amounts of work. Meaning their employees must have the skills coupled with the desire to produce.
Business Growth – Productivity And Efficiency
Let’s throw efficiency into the mix. The definition of efficiency is to achieve maximum amount of productivity with minimum expense and waste. This is what a business strives for and is critical to achieve maximum business growth.
Business Growth & Productivity Tips
So if that is the case, for a business to achieve business growth, as a net result, efficiency and productivity need couple up and to be high on the radar. The business needs to have systems and process in place to do the following:
- Measure output
- Measure the time it has taken to produce the result
- Assess the skills of employees
- Measure the overall performance of employees
- Measure revenue vs. expenses
- Seek constant and never ending improvement to current work practices
- Ensure the vision and goals of the business are understood
- Ensure employees understand the expectations within the business and for them as an individual
- Coaching and developing a team of people
- Creating and supporting a culture of efficiency and productivity.
If you have systems and process in place to support the above 10 areas in business, you will improve the productivity within your business which will lead to business growth. It’s not just going to happen, the business needs to have very clear objectives in place to ensure that the sometimes elusive business growth can be realized.
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