Benefits Of Having A More Efficient Business
The word efficient is defined by Google as: “(of a system or machine) achieving maximum productivity with minimum wasted effort or expense.” Sounds good right?
Efficiency is one of those things it’s great to have in a business – for a variety of ways. There are a few of those benefits listed below. Being efficient could:
- Save costs and waste.
- Save time.
- Increase profitability.
Still sounds good, right? But how do you go about making a business more efficient? We’ve come up with a few ways to start doing just that.
- Work out what’s time consuming. Spend a little time working out what in your business takes the longest to complete – which tasks take longer than you’d like them to? It may sound a little counter-productive to spend time looking at what takes up time – but it’ll help in the long run. If something’s working perfectly, there’s no point changing it when there are other things which take far longer than they could. Once you’ve worked out what’s time consuming, then you can work on figuring out a way to reduce this – spending a long time on admin for example? Maybe there’s a way to improve the streamlining of your business by updating the systems you use or making something more automated?
- Consider technology. Our recent post on technology which could change the face of construction highlighted some ways this might help in the future. Using a new piece of technology does involve an upfront cost, but it’ll save time in the long run. By cutting down time spent on jobs, the tech will pay for itself. If those listed in the previous blog post aren’t for you, consider something else. Maybe you’d just like to update the way you allocate workers to specific jobs – which can be improved with technology. Cutting down on time and automating some small tasks will help your business become more efficient.
- Work out where there’s waste. A key part of being more efficient is cutting down on waste. This could mean a variety of things – actual wasted materials or workers time. Maybe there’s a worker who can’t do anything for a couple of hours due to the fact the job they’re at is nearly finished. Or they need to be at a different site and haven’t got the memo? Alternatively, there could be some waste with a material being overstocked at a site? There are more ways, but if you’ve noticed there is consistently waste in the same place, then it’s worth looking into.
Making your construction business more efficient is one of those things which isn’t going to happen overnight. But by investing a little bit of time working out where things are inefficient, you can assess where the problems with productivity are. There may be no easy solution – but once you understand what needs improving, you can work on doing just that.
Would you like to make your construction business more efficient but aren’t sure how?
Does admin and business management take up a lot of your time? Our software has a wide variety of features to make your business more efficient – see our features page for a full list! Start your 28 day Tradesoft free trial today! Query? Email firstname.lastname@example.org or phone 0800 488 0600 for more information.