If you're going to own a small business, you might as well run it efficiently. After all, every wasted hour/dollar results in less money you're going to make. There are a number of ways to run your small business more efficiently. For starters, try automating some of the more mundane tasks like inventory management. If you haven't already, please check out Stockpile, inventory management for small business made easy!
There are a number of ways you can become more efficient in operating your small business. The following list is meant to capture a few of these ideas:
Make Lists: If you're prone to distractions, lists are good ways to stay on course for a given day. Before I start my day, I make and review a list to ensure my priorities are set. This way the surprises each day brings are much more manageable. Sometime you might even have to take yourself out of the line of fire (off the floor) to get things done. Remember the list was important at the beginning of the day so work towards completing it!
Control Costs: There are a number of ways to control costs in your business. We'll review employee scheduling and overstock situations in just a bit. Did you realize you can control cost by buying in bulk? When's the last time you reviewed your corporate card statement and labeled each purchase as a need or a want? Wants can be left off the list next month where you're only purchasing things you actually need to run the business.
Get Creative: Set aside a time each day that you can be alone. Think critically. Some of the best ideas we'll ever have come during quiet time. Staff accordingly and don't be afraid to step away for a bit. Strategy is important regardless of the business you run.
Optimize Your Resource Schedule: Try and reduce unnecessary overlap. If you're not as busy right when you open or the last hour of the day, then cut back resources accordingly. That extra couple hours a day can save you 1,000 or more hours of compensation at year's end.
Don't Overstock: If you use our simple solution to inventory management for small business, then you'll have no problem discerning whether you're in an overstock situation or not. Reports built within our online inventory system help you quickly spot overstock situations and keep them from occurring in the future.