How to Make Your Business More Efficient & Organised
June 23, 2018 by Susan Brooks
When you’re starting your business or even when you’re running an existing one, trying to be organised can seem like too much of a challenge. With dealing with your daily concerns of operating a business, you probably don’t have much time to try to get organised or even oversee employees trying to do it for you. Here are small steps you can take to make your business more efficient and, in return, make your job a little easier.
The first step to effectively managing is tracking what’s going on in your company. You’re already doing that but you might not be giving yourself enough monthly information. Rather than saving your accounting documents for your accountant at the end of the year, make sure you are tracking them now. You’ll save plenty of work at tax time but, more importantly, you give yourself the gift of valuable information.
Simple inventory and accounting tracking programs can give you information on your real expenses and profits so you can review them on a monthly or quarterly basis, whatever is going to be most useful for you. Even a smartphone app could be added to scan bar codes to help you input information as quickly as possible. Don’t limit yourself to tracking your inventory. Make sure you input all of your expenses and sales.
It can be difficult to build a strategy unless you get a good view of the big picture. Look for the patterns in your sales not just in terms of the volume of sales but also in regards to the particular products or services you sell. Look for seasonal trends, key customers, and the areas of most sales and sales growth.
Find Ways to Consolidate
If there is a rising trend toward a particular product, find ways to capitalise on that. Diversity can be important but making the most of products or customers with higher demand could be a key to cutting costs and becoming more organised. Tracking your sales and supplies like this can lead to logistics solutions and economies of scale that can reduce your costs. Negotiate with supplier and wholesale customers to see if you can do less-frequent purchases or sales in order to reduce shipping costs. Being able to purchase supplies in larger amounts at once could allow you to take advantage of bulk pricing or work out new volume pricing with suppliers.
It may sound simple but adding adequate shelving and other storage options can help keep your organised, make it easier to manage your inventory, and reduce the opportunities for loss due to employee theft. Ensure there is a clear system for storing items and tracking items as they are delivered and sold. You might even consider colour-coding areas of storage to make it quicker for employees to find what they need. You don’t need fancy labelling. Paint, labels, or even coloured masking tape can be used to colour-code each area or section of boxes to speed product access. You can even carry this colour-coding into your filing system to keep inventory information organised and easily-accessible.