How You Can Find More Time and Money in Your BusinessSep 23, 2021
Lately I am hearing from leaders that find themselves in two very different situations. Leaders share that they are dealing with a new staffing model in this post-pandemic world.
1) Some leaders share that their business is suffering through the Great Resignation … struggling to hire and retain great employees. Their business is rebounding and they are forced to sacrifice revenue or quality because they don’t have the people to support the demand for their product or service.
2) Other businesses have had to reduce staffing (or maintain reduced staffing) to deal with the continued impacts of the economic downturn. Leaders in those businesses are being asked to tighten the budgetary belt, find savings and meet cost cutting targets.
Either way – they are having to learn to do more with less.
The answer is efficiency.
Maximizing your resources. Eliminating waste. Making the most of what you have available to you. Some leaders think of efficiency specifically on the cost management side, or on the people performance side. But you can have an inefficient sales process, an inefficient customer experience or inefficient systems.
Inefficiency, or waste, comes in many forms. Some of these are probably what comes to mind, the others are somewhat hidden forms of waste. The acronym is DOWNTIME.
Non-utilized talent Extra Processing
Leaders don’t want to lead inefficient organizations. Employees don’t want to work for inefficient companies. Customers don’t want to do business with an inefficient business. And investors don’t want to invest in inefficient companies.
Have you led an inefficient organization? It manifested itself in various ways – increasing costs, lagging sales, poor customer satisfaction, high employee turnover.
Have you been an employee at an inefficient organization? It is frustrating to know that the business you work for is inefficient. You wonder why leadership allows it to happen. You’re disheartened when the issues (and maybe improvements) seem so obvious to you, but those in a position to make changes don’t make it a priority. You know you can offer more.
Remember the last time you did business with a company that was inefficient? Maybe it was disappointing service, or it could have been a poor-quality product. Did you voice your dissatisfaction - either at the time of service, or once you had time to reflect? Most likely you are letting them know by taking your business elsewhere. Consumers won’t always give you a second chance.
Investors invest for one reason … return on their investment. If the company is squandering resources and not meeting (or exceeding) goals – they will take their investment elsewhere.
By focusing on efficiency you are able to meet and exceed your goals with the resources you have.
Another benefit of focusing on efficiency …
I’ve had times in my career where I’ve recommended new processes, new programs, new offerings – and these require budget dollars. When presented with the cost I’ve been told “find it”. And you know what – I did. By finding efficiencies in my operation, I was able to put those dollars into unexpected investments to test new efforts that could ultimately result in a better financial return or a better customer or employee experience. In one case I wanted to absorb a function that had no real owner. You know ... no one wants to "officially" own it because then the accountability rests with you. I knew that taking on the work would improve the customer experience, but would require staffing and we wouldn't be getting any transferred to us from other areas. I was able to dig deep into a few processes I already owned to find cost savings. We were able to reduce transaction time by eliminating duplicate entry and reinvest those savings into taking on a new function and improve customer satisfaction.
If you want to assess your organization’s efficiency and find money being left on the table DOWNLOAD MY FREE ORGANIZATIONAL EFFICIENCY ASSESSMENT. You’ll quickly examine your businesses efficiency in the 8 categories of waste and have the input needed to develop an improvement roadmap to maximize your resources and bring more to the bottom line. Or maybe you want to use those savings to fund a big idea you’ve been waiting to implement. Either way – you’ll find dollars!
If you are looking for someone to go through the assessment, or work with you on the taking action once you complete the assessment – let’s connect. I’d love to partner with you to FIND inefficiencies and IMPROVE your processes to achieve greater profitability. That means happy leaders, happy employees, happy customers and happy investors. Win, Win, Win, Win!
About Me: I'm Heather Havey and my consulting business helps visionary leaders bring their big ideas to implemented reality. I’m passionate about efficiency and business transformation, and I will empower you to accelerate the achievement of your big goals. I offer customized, no-nonsense, real-world solutions designed to position you as the hero in the reinvention of your business.
Check out options for how we may be able to work together at https://www.heatherhaveyconsulting.com/services .
And if you think you could benefit from having an expert partner with real-world, action-oriented change solutions that will absolutely work, let’s chat. In your free strategy session, we’ll get those ideas out of the clouds and onto the road to results. Schedule a complimentary strategy session to talk about bringing your vision to life.