Researchers say that employees only spend 40% of their workday on actual work. The rest goes to waste due to productivity drainers. Among the top causes of low productivity are non-work activities and aging technology.
Productivity losses hurt all businesses, but the most at risk are new businesses. For one, start-ups have just invested a lot of capital that they need to recoup. Since poor productivity translates to profit losses, they won’t be able to recover any of that.
To that end, we created this guide on the top entrepreneur productivity tips that you can follow. Read on to discover these strategies that can help your new or soon-to-be business succeed.
1. Automate Banking Activities
In the US alone, experts project at least 25% of jobs to receive high exposure to automation. These include the financial sector, as automation speeds up many of its tasks, such as data entry.
Business owners can also automate many banking activities, especially those with fixed expenses. These include payments for mortgages, rent, invoices, and sometimes, even payroll. Automation can free up a lot of the time you spend on such repetitive tasks.
Before you can automate banking tasks, though, you first need to have a business bank account.
Most countries require businesses to open business bank accounts for tax purposes. Having a registered business, in turn, is a requirement to open a business bank account. So if yours isn’t yet, be sure to get more information on business registration processes.
After registration, you can then open a business bank account. From there, you can use automation software specifically designed for banking tasks. Look for features such as intelligent forms, revisable invoice templates, and customer support.
2. Develop a Routine
Successful business folks share another thing in common, aside from being wealthy. They all have a work routine they stick to.
So, take a page out of their books and develop a work routine that suits you. It’s best if you include the time you usually wake up so that you can have an idea of how many hours you need to work in a day. For example, if you wake up at 6 AM, you can schedule work to start at 6:30 AM and then adjust the rest of your day based on this.
3. Tackle Tasks With a Timeline
Once you have a routine, create a timeline of the tasks you need to prioritize for the workweek. Make a list of these activities and then organize them based on their urgency or when you need to complete them. Factor in how hard they are and how long it will take you to finish them.
If you know how much effort and time a task needs, you’ll find it easier to choose the ones you need to work on right away. Another method is to finish all the easiest jobs first so that you can spend the rest of your time on the harder ones.
Also Read: Starting a New Business: Some FAQs to know
4. Keep the Workplace Clean and Well-Organized
One of the best business productivity tips is to keep the workplace clean and organized at all times.
For one, many of the 2.8 million nonfatal job injuries and illnesses in the US are due to unsanitary workplaces. Such environments make it easier for infections to spread. Injuries, such as those from slips, trips, and falls, can also result from messy workplaces.
All those can lead to a high absenteeism rate, which can drain your business’ productivity.
Besides, all employers have a duty to give their workers a safe place to work in. So, it’s not only ethical to keep your workplace clean; it’s also a legal requirement. In the US, violating these laws can result in penalties ranging from $5,000 to $70,000.
Hiring commercial cleaners is your best option for thorough in-office cleaning. They can also help with the sanitation and disinfection of an at-home business.
5. Take Quick Breaks
Speaking of health, another must-follow tip for busy bees is to take breaks after every 20 minutes. This is even more important if you and your employees stare at computer screens most of the time. Otherwise, you guys may develop computer vision syndrome (CVS), which can affect productivity.
The breaks can be as short as 5 minutes, which is enough time to help the eyes relax. You can also use this as an opportunity to stand and do some stretching exercises. All these can help boost blood flow, which sitting for prolonged periods can restrict.
Also Read: 5 Reasons To Continually Upskill Your Staff
6. Outsource Tasks You Don’t Specialize In
An estimated 300,000 jobs get outsourced throughout the world each year. Many of these jobs come from American governments and defense sectors.
However, even small organizations and businesses can benefit from outsourcing specific jobs. What’s more, you can delegate almost any task, such as IT, accounting, and marketing, to experts.
In doing so, you can free up valuable time that you can then spend on conducting core business tasks. As a result, you can do more profitable work instead of just admin tasks.
7. Encourage Productivity With Positive Reinforcement
Positive reinforcement focuses on praising a job done well rather than criticizing mistakes. When you praise your people, you encourage them to repeat their positive actions. They’ll take your feedback as confirmation that they’re doing an awesome job.
This kind of motivation can spread throughout your other team members, too. Most people want acknowledgment, so they will also do their best to receive praise too.
All that can then lead to greater workplace morale, and ultimately, higher productivity.
Let Your Business Flourish With These Productivity Tips
There you have it, your comprehensive list of effective business productivity tips. Start by prioritizing tasks that you can do, automate some, and then delegate others. Don’t forget to take breaks, too, and always keep your workers’ welfare in mind.
Interested in more nuggets of wisdom that can help you or your business succeed? Then please feel free to check out our other informative guides!