5 Principles that inject efficiency into the way leaders do business
Being wasteful in business is the same thing as driving with a flat tire. The more companies conserve available resources and prevent mismanagement, the more they stand to gain from making assets last. If you can figure out how to think efficiently, work efficiently and consume efficiently, not only will you become resilient in times of scarcity, but you’ll maximize profits to peak levels as resources become more abundant.
Efficiency requires thoughtfulness
Business Expert Glenn Smith advises that “Efficiency is important for profitability. Effectiveness is important for growth. The best way to improve efficiency is for you as a leader to take time on a consistent basis to evaluate, plan, and focus. This is why it’s good for business owners to take a strategic retreat every 90 days. By doing this you can step back and look at the big picture.”
Here are a few quick tips on how to generate efficient business processes as a leader
Avoid making mountains out of molehills
When companies become wasteful, it’s usually because somebody is making impulsive, biased, or misinformed decisions. Instead of overthinking tasks/projects, keep things straightforward and simple. Use logic and common sense to make sturdy decisions.
Delegate tedious tasks while focusing on core ones
Focusing on the big picture is necessary to keep things in perspective. Prioritize between core functions, and supplementary ones, then delegate supplementary tasks so that core functions can get undivided attention.
Technology makes life easier, especially within the context of business. If you have access to technological resources which streamline activities, then make use of such technology by all means.
Be serious about punctuality
Efficiency is all about getting things done in good time. It’s about exercising discipline in a way that creates consistent output. When people embrace punctuality, it leads to organized and coordinated professional performance.
Brainstorm about the future
Business is like a game of chess. Meaning that the only way to succeed is by being calculated and strategic. Thinking ahead motivates people to make beneficial decisions in the present. When businesses are forward-thinking, their operations account for the various possible outcomes of their internal processes.
Efficiency sounds like an elaborate undertaking that involves a lot of heavy lifting. But it really just boils down to one key concept. Common sense. Practicing common sense is the first step towards discovering, sharpening, and exemplifying efficiency.
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