Time is a valuable resource in your business

Posted on May 22nd, 2014

Categories: Business, Management

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Time is your company’s scarcest resource, so it makes sense to utile it efficiently to ensure your business success.

How well is your company managing its time? How well do the people in your business ensure that meetings and emails are fit for purpose and effective and that the day-to-day small inefficiencies are minimised?

Here are some ways that you can ensure that time is spent more productively in your company:

1. Fewer, better meetings improve business efficiency

Meetings can lead to inefficiency and ineffectiveness in the company. Yet, meetings are essential to effective decision making, execution of plans and to the achievement of business results. The best decision makers manage meetings as carefully as they manage any other part of their business. It is important to focus your meetings on decisions and make them effective. Separate the important from unimportant – understand your team’s critical decisions. Ensure that the right people attend and that there is a purpose for the meeting, with a clear actionable decision log at the end. This will significantly improve follow-up and execution of your decisions.

2. Keep your emails short and focused

Prompt action to emails is important but, don’t’ be distracted by constant “urgent” emails which can be time consuming. Keep your emails focused, short and to the point to save your business time. Business emails do require a quick response however, use your judgment and ensure that your time is used productively.

3. Make your processes are lean

You can introduce processes such as personal feedback in your company to gather information about its operation and performance. This can help ensure that your staff are better focused on their priorities. Processes are only as good as the actions taken on their results. As a leader, you need to identify the issues and ensure that corrective action is quickly taken. Ensure that your processes are lean and fit for purpose.

4. Focus on your tasks and priorities

When you are uncertain about your direction or unhappy about your next task, an interruption feels like a relief. You might convince yourself that a client needs an immediate response or that an employee will be disappointed if you’re not available right away, but you know it’s not true. If you are constantly moving from one thing to another without completion you are avoiding something. To help you focus, update your list of tasks on a regular basis and assign each item specific, actionable steps leading to completion. This will help to boost your productivity.

5. Buy in business services

Many businesses make the mistake of thinking that they have to keep all of their business resources in-house. You don’t need to use your staff to do time consuming work that isn’t core to your business. It makes sense to leave the essential noncore functions to other companies who have the expertise to add real value to your business and its growth. That way, you can focus your in house resources and valuable time on the core of your business. It’s a cost effective solution and it makes better use of your staff time.

Time is a valuable resource in any company. Use yours effectively. After all, time is money.

We can help and take care of your key business functions to enable you to focus on your core activities so you make a positive contribution to your bottom line. Talk to us. Get in touch today to find out how Ascend Twentyone can help your business.

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