10 Strategies to Increase Business Productivity

The world is moving faster and faster, processes, the way things are managed, are constantly evolving and it is the task of companies to adapt to this new pace in order to continue to develop. Experts need instant achievements and the power to maximize their valuable time.

That is why we have compiled a list of 10 strategies to increase the productivity of your business where you will find the keys to streamline all processes while maintaining high quality in your products and services.

What is productivity?

Productivity designates the relationship between production (creation of a product or management of a service) and the resources and means necessary to achieve it  .

On the other hand, an increase in productivity can lead to a decrease in costs, even if the volume of the company’s needs remains unchanged.

How can I increase the productivity of my business?

1. Establish a financial plan

To consolidate the economic stability of your business, it is essential to have a good financial plan . Keeping a record of all expenses and profits is also a very simple way to increase the productivity of your business, because thanks to this you can measure the statements more precisely while monitoring financial developments.

Depending on the data obtained after implementing correct financial management , you can also analyze all the guidelines to determine the profitability of your ideas, thus obtaining the ability to make decisions and set short and medium goals term, much more quickly.

2. Set clear growth goals

Do you know your expectations? Do you know how much you want to sell and earn? Developing an action plan , whether half-yearly, quarterly or four-monthly, and setting clear and measurable objectives to achieve during these periods will guarantee you better results. But to do it well, you need to know where you want to direct your business.

It is by setting a specific destination that you will determine the path to follow and can set the appropriate goals to arrive at your destination. Knowing yourself and your business well is what will mark the direction of each step forward.

3. Implement task software

Being well organized will help you manage your company’s time better and allow you to get more done with less effort. An easy way to do this is to use task management software that streamlines the distribution and tracking of your team’s “tasks”, and also allows you to set deadlines for each project.

This, in addition to optimizing time management , will also allow you to keep track of everything that is done, it will be a way of systematizing your business. There are many applications that you can use: in the TAS Consulting team we use ClickUp, but others like Trello, Asana, Basecamp, among others, will be of great help to you in organizing your processes business.

4. Develop a marketing plan

You will see that customers do not come alone, in most cases, especially if you are just starting out, you will have to invest in a marketing plan to attract them. And whatever strategy you choose to attract them, you should not be confident, analyze it and always seek to improve it.

Using metrics like CAC (customer acquisition cost) will help you track the effectiveness of all your marketing plans, telling you which tactics should focus more on, which ones should be stopped or those for which i is time to create new ones.

An additional tip: once you have established a community of customers, try not to overwhelm them with too many messages aimed at generating sales, be reciprocal and offer them valuable content to engage with you . Remember, it’s more expensive to get new customers than to keep them.

5. Organize progress meetings

Taking stock, evaluating performance and work output, adjusting the distribution of tasks, is conducive to establishing a good organization and, therefore, increasing productivity.

You must therefore ensure that you only invite employees directly affected by the meeting, set the objectives of an agenda and ensure that it is respected. It is preferable to opt for short meetings focused on a specific point.

6. Make sure your employees understand the company vision

For the vision you have for your business to become a reality and not just words on paper, your employees need to do what needs to be done and how it needs to be done. To do this, you must communicate essential aspects of the organization to your employees (including your customers, investors, and the community). The brand values, purpose and promise will be the pillars that support your company culture and help you form an identity with which you can attract the right people and talent to the company.