A small business – from the very top all the way to the bottom – needs to be productive in order to succeed. Better leadership and more focused employees often equal a big boost to any financial plan.
An influx of revenue is often the result of more productive staff members, but this goal could be difficult to achieve. A lot can get in the way of a motivated workforce, and that also applies to business owners themselves. Thankfully, many tactics are affordable financial tips that won't break the bank. On the contrary, changes often require a little motivation and some drive, instead of a major monetary investment.
Entrepreneurs should make time for themselves
A small business is often working with only a few people, which might make the owner more motivated to put in long hours and dedicate their entire lives to the company. However, this could be as detrimental as it is beneficial.
Instead of being the first person to show up every day and the last person to go home, entrepreneurs should leave some time in between for themselves. Dan Kennedy, in his book "No B.S. Time Management for Entrepreneurs," wrote that it really helps to get lost every once in a while.
According to Kennedy, business owners and entrepreneurs should be inaccessible for a set period of time each day. Removing extra distractions often means more productivity, and sometimes the biggest problems are coworkers. Therefore, there should be a closed-door policy in the office. During this time, no problem is worth breaking in. What's more, some entrepreneurs might find that they can be much more useful working from home, and that the staff at the office are perfectly fine running things on their own.
In addition, entrepreneurs should stay off the phone, Kennedy explained. This is the biggest interruption that ruins productivity. Business owners don't need to be tied to their mobile device – most calls can wait one or two hours before warranting a response. Good organization can help make this easier, and each day can be divided into specific times to manage each appropriate task.
Financial tips to improve employee productivity
Once the small business owner has a good grasp on his or her business day, it comes time to turn that attention to the staff. For a company to be working well, the entire operation needs to be on the same page. In order to bolster a financial plan without spending a lot of money, that means a focus on productivity.
In order to cut costs, employees should spend as much time as possible working instead of doing additional tasks, according to the Guardian. For example, many people spend their days in meetings, traveling or at home, instead of performing their duties. Productivity can receive a boost with mobile devices, as smartphones and tablets allow users to stay working even when they're away from the office.
Moreover, small business owners should place a priority on workplace health and wellness, the news source noted. Fit, healthy and happy employees are more likely to work well, and reaching that goal can fall on management. In order to do this, hours should be kept to a minimum, and nights and weekends should be reserved for rest, not other tasks. In some cases, staff members work too many hours and could even burn out. If this happens, they'll be less productive and quality will most likely drop.
Small business owners have to communicate clearly with their employees to improve the company. Productivity starts at the top, and if upper management has a healthy work-life balance, that can help the rest of the firm reach that as well.