How Streamlining Your Business Will Help With Efficiency And Profit

When you run a business, it is very easy to get caught up with multiple, time-consuming issues and tasks that need your attention daily. This applies to all types of businesses, including restaurants, cafes, hairdressers, gyms, law firms and more.

What if you could take a step back and review your regular activities to discover new ways of streamlining the business processes, freeing you up to explore opportunities to grow and succeed?

The Realise Business advisory team has successfully worked with several Parramatta businesses on streamlining tactics, with excellent results.

Here are a few examples of streamlining actions:

Business operations review

The first step in streamlining is reviewing and analysing different areas of your business and the way you currently operate. For example, if you run a hospitality business, consider the processes involved with ordering supplies, food preparation, service and clean up and the steps you could take to streamline or automate some of those activities.

The same process can be applied to different business areas, including staffing, marketing, sales and customer service. While this may seem a daunting task, not every part of your business needs to be tackled simultaneously. But by implementing gradual change across different parts of your business, you can help it run more efficiently.

Use technology to your advantage

The pandemic has sped up our reliance on technology and the decline in paper use in business operation. The good news is that embracing technology will make it easier for you to stay on top of the various elements of your business. Businesses that use technology do so to help them keep track of important records, automate day to day activities and measure their activity for increased profit.

Update your record-keeping and accounting

There are many advantages to using cloud accounting, including being able to access your accounts and financial figures at any time. You can also use cloud accounting technology to send and automate regular invoices, set reminders, and monitor overdue accounts quickly and efficiently. Having a streamlined accounting system also makes it easy to monitor and manage your cash flow. Popular cloud accounting platforms include Xero and MYOB.

Workflow tools will help you stay on top of projects  

Emailing back and forth with team members and clients can be a time-consuming and sometimes confusing process. Many low-cost project management tools can assist business owners in streamlining and managing regular or one-off projects. The benefits of using project management tools include easier collaboration, file access and sharing, as well as budget management and productivity because all the information is stored in one space. Popular project management platforms include Slack and Asana.

Automate your marketing

As more people search for information about your business on the internet, it makes good sense to have a vibrant and up to date Facebook or Instagram page. The good news is that there are several tools like Buffer and Hootsuite that you can use to schedule posts to appear on those pages regularly. This will help you develop posts in advance, so they appear automatically at a scheduled time. Email marketing platforms like MailChimp will let you schedule posts and monitor results. They will also provide you recommendations about the best time to send your emails based on your previous results.

How Realise Business Advisors can help

A free advisory session with a Realise Business Advisor is the first step you can take in streamlining your business to improve efficiency and profitability. Our advisors will help you review business operations and processes, working alongside your business to integrate the right technology that will save you time and free you up to focus on your growth and success.

Book your free advisory session today.

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