How to Optimize Your Business for Greater Efficiency
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Chapter 1: The Shift from Old to New
In the past—prior to 2000—businesses relied on fax machines for sending documents that required signatures from individuals who weren’t nearby. While using a fax may have been simpler than physically delivering papers, it was hardly efficient by today’s standards. The process involved printing the document, inserting it into the machine, locating the recipient's fax number, and sending it off, often leading to uncertainty about whether it reached its destination.
I’ve always found fax machines intimidating; their operation can be perplexing, and there's no guarantee that the document has been received. This is precisely why electronic signature solutions, such as DocuSign, DocHub, and particularly Jotform Sign, are essential for a well-functioning business. We designed Jotform Sign to be utilized independently or integrated into our suite of products, aiming to provide both our employees and clients with a seamless experience.
E-signatures may appear straightforward, but their impact is significant. The exciting news is that there are many simple strategies to enhance your business’s efficiency using existing tools.
Section 1.1: Embrace Collaborative Tools
The dynamics of collaboration and communication have changed dramatically with the rise of remote work. Previously, gathering teams for a quick update was simple when everyone was in the same office. Now, emails can easily go unnoticed, calls may be missed, and voicemails often remain unheard.
Fortunately, platforms like Slack and Asana provide solutions to ensure that all team members are aligned. Whether you have a small or large team, these tools enable file sharing, project organization, and effective communication, eliminating the issue of lost emails. Many of these applications also allow you to monitor progress on tasks, assist with scheduling, and integrate seamlessly with other services like Gmail.
Subsection 1.1.1: Invest in a Competent Finance Team
If there’s one area in your business that’s primed for optimization, it’s finance. “Depending on your business size, having just one financial expert can create a substantial impact,” says Shauna A. Wekherlien, CPA, MTax, CTC, CTS from Tax Goddess. Assembling a team of specialists who can assist with maximizing tax savings, cash flow, and financing strategies not only benefits your company financially but also alleviates the stress of navigating this complex landscape alone.
Once you’ve onboarded the right individuals, the remaining tasks become manageable, according to Wekherlien. “Together, establish structural financial systems that will support the growth, flourishing, expansion, and profitability of your business.”
Section 1.2: Solicit Feedback
One of the most valuable resources for identifying processes that need streamlining may be overlooked: your own staff. No one understands the operational challenges of your company better than those who work there daily. There are numerous ways to gather team feedback, with Jotform’s feedback forms being an excellent option. Regardless of your chosen method, consider asking these three questions:
- Which processes do you find least effective?
- How could these processes be enhanced?
- Do you have any recommendations?
Once you've gathered this feedback, it's crucial to act on it! Employee insights can greatly streamline operations and make everyone's roles easier. Moreover, demonstrating that you value their input fosters a culture of respect and engagement within your team.
Chapter 2: The Power of Delegation
Section 2.1: The Case for Outsourcing
I’m a strong advocate for delegation. In the early stages of launching a startup, you often find yourself managing every task, even those outside your expertise. However, it soon becomes clear that you can’t do it all. Handling public relations and customer service as a founder may not be the best use of your time, and specialists can often deliver better results.
The same principle applies to outsourcing. While it might be tempting to keep everything in-house, why do that? As Teddy Wold, CEO of Klingit, mentions to Forbes: “Outsourcing tasks to external experts allows you to concentrate on what truly matters, while ensuring that professionals handle areas outside your expertise. This approach often leads to superior project outcomes and can save costs in the long run by maintaining lean operations.”
The emergence of collaborative tools makes managing contractors and freelancers much simpler. Utilize products like Asana and Google Sheets to keep everyone organized and on track, even when working remotely.
Section 2.2: Clarifying Your Objectives
Running a business can sometimes cloud your vision of the bigger picture. To cut through this clutter, it’s vital to define your priorities. Begin by listing what’s thriving within your company, being as detailed as possible. If it helps, categorize this list into areas like strategy, operations, and work environment.
Next, create a “Room for Improvement” section, again being specific. Then, outline your “Passions,” identifying the two or three aspects of your business that bring you the most satisfaction. Focus on these areas. Lastly, note your challenges: Are you short on time? Lacking direction? Overwhelmed with other commitments?
Mapping out these elements will provide a clearer understanding of what’s working, where the obstacles lie, and where your true passions reside.
Streamlining your business can be a pivotal factor in its success. It’s essential to identify where you can conserve time and resources while honing in on your core objectives. This isn’t merely a quick fix for productivity; it’s about understanding how you want to allocate your time and removing the barriers that hinder your goals.
Thank you for reading. Feel free to connect with me on Twitter!