Productivity is important when running a small business. When your business isn't as productive as it could be, you likely miss out on rewarding business deals and prospective profits. Here are a few things you can do to make your small business more productive overall.
Invest in Ongoing Training
One thing you can do to make your small business run more productively is invest in ongoing training for all of your employees. As your business changes and grows, the responsibilities of each of your employees will change and evolve. So they'll need expert training to ensure that they do their tasks properly and efficiently throughout the day. Plus, refresher training courses can help keep your employees on track and refocus their efforts where those efforts are needed the most.
Start by hiring a professional trainer in-house or find a third-party training company to work with. After making sure that they completely understand how your business works and the duties of each employee on your payroll, they can create custom training materials and schedule group or one-on-one training sessions throughout the year to ensure that everyone stays on the same page.
Offer Performance Incentives
You can keep your employees motivated to stay on task and provide the best performance possible by offering them performance incentives a few times a year. Whether it's a monthly performance contest or a bonus for every task completed properly within a given period of time, you can offer incentives based on the specific performance aspects of your business that needs attention the most at the time.
For example if customer satisfaction rates are down, you can offer incentives to get your employees to pay more attention to each customer they work with. If you're behind on inventory tasks, you can offer a bonus to each employee who finishes the backed-up tasks in a specific period of time.
Outsource Your Bookkeeping Work
Bookkeeping is extremely important for any small business, but it can also be time consuming and impede production levels in other departments as time goes on. So instead of spending money and resources on an in-house accountant or training your employees to take on bookkeeping tasks, consider outsourcing your business bookkeeping work to a professional team in your area.
They can prepare your financial statements, reconcile your accounts, handle vendor payments, and manage your monthly accounts receivables among many other things. So you'll be able to spend less time focused on bookkeeping and more time focused on your company's overall product levels in the coming years.