A message to any entrepreneurs and future business owners/managers/leaders as you embark on your journey down this path, Efficiency isn’t seasonal and needs to be included in any business plan.
In good times it is easy to be complacent and hire people without consideration to the potential impact on productivity. However, this can put a business in a precarious condition as or when the market shifts and measures to reduce expenditure become the order of the day. In this case we see that it is important to have goals in place for increased capacity so that staff reduction can be avoided — especially during downturns in the market.
We have to remember, to stay in business, a company has to make a profit and in order to accomplish this, the expenses have to be lower than the income. Basic accounting principle.
So even during periods of exceptional growth and this could be cyclical or just a fact of the great service the business is giving to the desired clientele. It is therefore essential to institute policies, practices and measures that manage long-term sustainability. Doing so helps leaders ensure that their staff or team remains productive, efficient and within budget, no matter what the market trends may be.
As someone who has built and led teams before, I understand how challenging this process could be for anyone just starting out. That being said, if you want to create a team or business that produces results, we should take the following points into consideration.
Lead by Example:
To demonstrate the values and goals of the organization the leaders have to follow them to the “letter” as this will effectively establish their benefits and gain respect and trust among team members. It is so important to Lead by Example to cultivate a sense of purpose, and motivate others to strive for success.
Set the Correct Goals:
As a leader we have to define clear company and personal goals and objectives that are realistic yet challenging enough to encourage teams and their members to increase their output while still maintaining efficiency and the quality of their work.
Use the Correct Tools:
Invest in quality tools, processes, and systems that will help teams remain happy and fulfilled while at the same time working more efficiently while still allowing for innovation and the desired output.
Incorporate the Correct Monitoring:
Employ detailed inspection measures to help ensure teams are meeting projections set by leaders. These guardrails are integral to ensuring potential problems are identified before becoming major issues.
What process management measures leaders put in place to manage and ensure that everyone remains motivated while working towards common goals will determine the success and or failure of any business in any situation, either growth or downturn in the economy.