Efficiency is one of those concepts that simply must be implemented in our businesses to insure that we remain viable and productive in today’s competitive business climate.
Just this past week, our team programmed over 100 terminals for new merchants and referral partners. We program alot of terminals but 100 in a week is more than we typically do. So it is not surprising that during that process, we found a couple of different ways to speed up the download process: we found new ways to become more EFFICIENT! You might think that a company that’s been in business for over 17 years would have found every efficiency element by now right? WRONG! New technologies, industry changes, and equipment modifications keep our industry fresh with new efficiency opportunities! It is my guess that your industry is exactly the same! Here are a few tips to make sure you are staying as efficient as you can be!
1- Take the time to review your processes personally! It is easy to take what we do and how we do it for granted! Peeling back the processes in our business up to and including the timing of specific tasks, can open our eyes to new ways of being more efficient!
2- Have your team give you feedback on the processes they are involved with. No one knows the ins and outs of a process better than the person who is knee deep in it every day! Query your staff and see if they can find more efficient ways to do the things they are currently doing. I’ve even heard of companies having efficiency contests! Many businesses have saved MILLIONS by listening to their team!
3- Get an outside opinion of your processes. Sometimes we are so close to a process that we cannot see the inefficiencies! After you have reviewed your process and your team has reviewed your process, it may be time to bring in an outsider! Having someone who can stand back and take a very unbiased look at the way you are doing things, often reveals fine tuning ideas that can really elevate your level of efficiency!
We all want to squeeze as much productivity from our time and our businesses as we can and taking a very serious look at the level of efficiency in your business may be the very best way to get the most bang for your buck!