Whether you are a business noob or an old hand, one thing you probably already know is that time equals money. That means time wasting issues aren’t just inefficient but are affecting your bottom line as well. With this in mind here are some of the most common time drains that SMEs need to be aware of, as well as how to stop them being so problematic.
Streamlining is a big deal in the business world, and if you aren’t looking at how everything that you and your employees do could be more rationalized, it’s likely that you have a waste problem concerning time.
This is because streamlining is a method that strips down any given task to its most essential elements removing anything unnecessary. Then the process orders these tasks regarding the most efficient way to get them completed. Something that saves time, as well as material waste and even the space that is needed to complete said task.
The streamlining of your business processes whether they are manufacturing ones, administrative ones, or even virtual ones is essential because without this you will be wasting time that is ultimately costing you money. Something that is pretty important to most companies if they are aiming to be successful.
Bad Skill to Role Matches
SMEs can also encounter problems with wasted time and effort regarding the match between the person given a task and their ability to do a role.
Not all companies are huge international organizations, and they may not always have an employee that is a perfect match for a job that needs doing. In fact, companies may think that they are matching the best person they have to what needs doing. However, as so many parts of running a business need very specialized expertise now, what actually happens is that it ends up wasting an employee’s time that could be better used elsewhere for the success of the company.
With this in mind, it is often better to use outside experts for specific jobs that need completing. Jobs like creating an MSP site that companies like Pronto Marketing can do, or even going to freelancers for particular tasks like designing a new company logo, or writing engaging content. After all, there are a wealth of consulting companies and independent freelancers at your service that you can make use of if you find yourself in this situation.
Lastly, a major time waster for many SMEs is when they encounter a delay in the supplies and resources they need. Think about it, you are paying for the workers to be there, and the equipment to be on, but aren’t doing anything with this time.
To that end, having an organized and preemptive stock reordering system is a vital step to prevent time waste in the area. Also, remember that choosing the most reliable supplier in the first place can help you avoid this issue of dead time altogether, something that could seriously save your business money and ensures its success in the long term.