It would be fair to say that 2020 was the year of streamlining – at least, on a temporary basis.
As we now dive into 2021, more permanent solutions are being sought. It doesn’t matter whether your business has felt the brunt end of the last twelve months or not, this is a period which has allowed businesses of all statuses to reinvent themselves in a manner that would have never, otherwise happened.
As such, we will today outline several tips on how you can streamline your business through 2021 and ultimately, supercharge your bottom line.
Do you need a traditional office?
The first, and probably most obvious question nowadays is whether you need a traditional office.
Once upon a time this was an essential part of a business and in some cases, the point that held a lot of budding entrepreneurs back. Many just couldn’t afford the lengthy commitments that office space generally requires.
The pandemic has allowed most businesses to reassess what they need from an office. Some have decided to opt for a completely remote route, while others have downsized and suggested to employees that they only need to come to the office on a part-time basis. Either option can save your firm significant sums of money.
There’s also another, in-between method – testing the co-working spaces. Granted, they’re not perfect, but they can help to prove the concept initially. Consider storing office equipment and giving it a go if you are in two minds.
How big can your talent pool now become?
On the subject of remote working, streamlining isn’t just about making cuts. You can also strengthen your workforce, which in term creates a difference means of the phrase. In other words, now that remote working is on the table, how big is your talent pool? Can you hire from outside your home country and get the very best in the world to supercharge your business? These are questions that companies dare not ask last year, but they are now firm options that can make a significant difference.
Question “It’s always been done that way”
If your company has been around for a number of years a common phrase will have probably been muttered, “it’s always been done that way”.
In short, if you or anyone else says this, question it. A lot of businesses have had to transform old processes; processes which they didn’t even realize were holding them back. There’s a high chance that many of your company’s processes fall into such a category.
Turn to automation
Automation is a term which is branded around freely these days, and we don’t want to be feeding you another buzzword.
However, if you have taken a look at your processes as per the previous tip, look to see if you can automate anything. It might be transforming the way you invoice customers, or it might be something more specific to your technical line of work. For example, Northspyre’s real estate project management software provides an all-in-one platform for the commercial real estate development industry, streamlining the business and freeing up time to focus on other areas. Either way, identify the time-consuming processes, and research alternatives to make your time more efficient.
