Why Improving Processes Is Great for Business
One of the simplest, most cost-effective ways to boost our profit margins is to improve our business processes.
Over time, even with a “standard way” of doing things, businesses tend to drift. Individuals cut corners, duplication creeps in, steps get missed, and bottlenecks develop - all of which can negatively impact our bottom line.
When a task takes longer than it should or requires rework, inefficiencies pile up. These inefficiencies don’t just cost you time—they cost you money. Whether a project ends up costing more than you quoted or you miss out on other opportunities because your team is tied up fixing mistakes, the financial impact can be significant.
This is why it’s essential to review and refresh our business processes from time to time. It’s true for solopreneurs as much as for large enterprises.
Clean Up Before Bringing in New Customers
We all get busy. But we need to ask ourselves - are we busy because we’re being productive, or are we simply putting out fires?
If we’re constantly dealing with team issues, customer complaints, or catching up on overdue work, it’s a sign our processes need attention.
Now is the perfect time to assess and refine how you operate - before taking on new customers. Otherwise, you'll likely waste money on lead generation efforts, only to see dissatisfied customers walk away. Think of it like running a tap with the plug out - you’re pouring resources in, but not retaining them.
The Bonus of Team Involvement
The best way to improve your business processes is to involve the people who are using them day to day - your team.
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Start by having them map out each process as they actually follow it, not just how it's supposed to be done. Make it visual. I like to use large rolls of brown paper spread across the walls and Post-it notes to track each step.
Once you've mapped it out, work together to identify bottlenecks, inefficiencies, and areas for improvement.
This hands-on approach not only uncovers valuable insights but also increases buy-in. When your team feels part of the solution, they're far more likely to follow the new processes, hold each other accountable, and look for ways to enhance efficiency on their own.
Delighting Your Customers
While streamlining internal processes, remember to focus on the customer experience. Consider how each step impacts them, and challenge your team to come up with ways to wow your customers.
Remember, keeping existing customers happy is easier - and cheaper - than constantly chasing new leads. Process improvements present the perfect opportunity to exceed customer expectations, creating "Raving Fans" who promote your business through word of mouth.
Ros Jones, Business Coach & Trainer
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Want a copy of my 59 Ways to Increase Business Profits Toolkit? Drop me an email at [email protected] .
MCICM-Credit Control/Debt Recovery ???Keeping cash flowing** award winning ***Credit Processes** Dispute Resolution & Debt Recovery**** Speaker **
3 周Love this the credit process which is not a credit policy is in many overlook and yet it is so important
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3 周Great insights, Ros! Streamlining processes is such a game changer—excited to try out some of these tips to boost efficiency!?