Take it from the CEO of Jetsmarter (a.k.a the Uber of Private Jets), Sergey Petrossov: reducing time and effort wasted on inefficiency can revolutionize your whole business. He upped his company’s annual business by over seven times, simply by spotting an inefficiency.
Common inefficiencies stem from a lack of communication, getting stuck in outdated procedures and a constant search for something new (the shiny object syndrome). Therefore you have to root out these inefficiencies so that your business can run smoothly.
Knowing every inch of your business means observing what you are currently doing and asking yourself:
Do I have a clear understanding of what’s important and what’s not?
Am I simply focusing on each task or crisis as it comes along?
Can these tasks be systematized?
Observe your current patterns to determine your strength. Then, apply those useful principles to the rest of your business to systematize the entire process. You can‘t really be objective about your company’s situation if you’re constantly carrying out daily tasks, as the ‘doer.’ You have to step back, zoom in and observe.
“Those who are most successful are capable of ‘higher-level thinking’ – i.e., they are able to step back and design a ‘machine’ consisting of the right people doing the right things to get what they want.” – Ray Dalio, Founder of Bridgewater Associates, the world’s largest hedge fund
This is the only way to create a system that allows you to remove yourself and let the business take care of itself. Principles by Ray Dalio is a great resource to learn more about this approach. As is Work the System by Sam Carpenter.
Once you’ve built your machine, improve it over time. Create a solid diagnosis of your goals and the problems blocking their path so that you and your team can stimulate creative solutions.
Would you agree? If so, you may benefit from a mastermind group that allows you to brainstorm core business challenges with fellow CEOs. Get that conversation started.
#2: Determine What Your Communication Strategy is Lacking
Don’t just say: “I can’t transfer my knowledge to my team.”
Instead, Ask yourself:
Which team member, and why?
Is it a problem of time or a lack of shared language?
Lack of clarity?
It’s Only when you’ve identified a problematic pattern can you get to work designing a solution. Get your team in the habit of raising issues and risks that they feel are out of their control or impossible to deliver.
Communication is a tricky problem for most organizations, but it is absolutely your responsibility as a business owner to get it flowing.
So, Make your vision and your values available to your team in file that is accessible to everybody in your company. This way your employees and contractors can keep coming back to whenever they are unsure of the direction of your company. Having a set of principles accessible to everyone means you don’t have to constantly re-exert effort to explain yourself. Document everything, including common Q&As, guidelines etc. Have them organized and updated, often.
Good ideas come from all places. If you have a team that understands company goals, encourage them to ponder and speak up. Let them bring their disagreements into the open where it can be discussed and settled logically.
Are you taking advantage of communication tools like Slack, Basecamp or ProsperWorks? Use communication technology to automate internal processes while decreasing inefficiency, human error and unnecessary delays.
Bonus tip: Outlaw long and complicated emails. Communications should be razor-focused on a task, an update, or a process.
#3: Remove Bottlenecks with Technology
Leveraging technology is the best thing you can do for your business. The benefits are endless: smoother operations, greater customer experience, increased productivity and higher profits.
Jetsmarter made it easy for customers to access technology and information by letting them directly schedule their flights through an app.
As a result, agents were removed as a booking bottleneck and re-directed towards other tasks.
For better or worse, every company is now a software company. There are hundreds of applications that can be used to run business tasks. It’s all about connecting people, processes, technology and data.
For your business to run smoothly and be highly adaptable to market needs, it needs digital integration. Use the proper tools to get you from knowledge to action in a systematic way.
How can you empower your business with technology?
Every industry has different needs.
Companies with manufacturing, transport and large investments may need to improve operations and take advantage of their infrastructures.
Other companies may want to focus on customer relationships and platforms.
Use technology to support your own goals, decreasing the amount of time and effort that you as a business owner need to focus on daily operations.
#4: Get Help So You Can Focus on the Big Picture
This means passing along some responsibilities when it becomes highly problematic or time-consuming. In other words: seeking help.
Escalation is not a failure — it’s recognition of responsibility.
Your business is meant to grow and run smoothly without your constant input. Because it becomes successful only when treated as a separate entity worthy of investment.
If time is the problem, get a virtual assistant to help you in a variety of areas, including administration, research, invoicing as well as marketing, sales and operational support.
#5: Define the Roles and Responsibilities of Your Staff
Did you know that there is a significant relationship between employee performance and clarity about roles and responsibilities?
According to one study: “Role ambiguity, which is absence of clarity for the roles, is considered to be one of the great bottlenecks for the effectiveness of the team.”
The research went on to indicate that employers who are clear about performance, evaluation and delivery improve their business tremendously. Not only are employees happier with their own performance; they uplift the entire organization.
We’re talking about goals, priorities and boundaries.
Your Employees need to understand not just how they fit into the puzzle but how the other pieces fit in, too, and how the whole thing comes together.
There is a freedom and passion that comes with clarity.
This includes you as the employer, CEO or business owner. The only thing you should be focusing on is making the best decisions for your business. Remove all the other noise from your head – you’d be amazed at how many different tasks there are that you can get someone else to do for you.
Are you ready to find out what it means to run a business that is so effective that you can pursue bigger and better goals? It’s possible. Schedule a 30-minute complimentary sessiontoday and find out exactly how you’re going to do it.
QUESTION: What inefficiencies have you found in your business that have allowed you to pursue bigger and better things? Share with us in the comments below!
Katrina McKinnon is a leading online innovator with over 20 years’ experience building and operating high performing businesses. In a market hungry for skilled online professionals, Small Revolution powered by Katrina McKinnon’s proven insights, is the fastest, most effective way to get the expertise to tap into this growing opportunity.
Did you know that nearly 60% of companies are outsourcing tasks to cut costs? Many small companies are falling behind.
They don’t have the ability to afford in-house specialists to keep up. This is due to fast pace technology making business more competitive. Outsourcing is the main key you might be missing for your company to thrive.
Today, IT and other professionals are very expensive to hire. Leaving small businesses in the dust if they can’t afford them.
The benefits of outsourcing are countless. You can outsource mundane tasks so your in-house team can focus on essential assignments that require time and effort. Outsourcing offers both big and small companies significant money-saving opportunities and the ability to stay ahead of the game.
Three Types of Outsourcing
There are three main types of outsourcing. There are many types of jobs and ways to outsource. The key is to find what is best for your company and your needs.
This is the most common type of outsourcing. Many small companies cannot afford to outsource expensive specialists. This includes specialists in accounting, administrative, and legal work.
In most cases, you don’t need an in-house full-time professional to do these jobs. You can outsource work to a company or professional when necessary.
Outsourcing IT Experts
Not only are in-house IT experts costly, but they aren’t necessary all the time. The majority of the work they do can be done from anywhere.
Why not hire remotely a professional that has the expertise in the latest technologies.
From app development, system administration, and software design to maintaining your website. You can find less expensive IT experts around the globe that are a fraction of the price of hiring locally.
Outsourcing Copywriters and Marketers
When it comes to marketing, many small businesses turn to their in-house employees. Creating text and design for pamphlets, websites, social media, and blogs.
There is a lot more that goes into creating a quality marketing campaign than just writing text.
Today, with proper content, a company can go far. Outsourcing professionals in the field can help boost their image and put them in the limelight
Outsourcing Benefits and Risks
Did you know that 47% of companies choose to outsource work to reduce capacity issues? Paying for office space costs a lot more than hiring a freelance professional.
Benefits of Outsourcing
1. More specialized talent. – As a small company, it’s not always possible to hire professional talent. They tend to be costly to hire in-house. With outsourcing, you have access to professionals around the globe at a lower cost, depending on your specific needs.
2.Save Money. – A company may spend $1,252 per new employee training alone. This doesn’t include additional costs of office space and expenses such as sick pay, pension, and others. Also, you have more access to professionals with more experience and knowledge that cost less on average.
3.More transfer of knowledge. – A strong team made of experienced experts can cover everything across the board to keep your company up to date.
4.Higher performance. – Most outsourced professionals work per-project basis. Focusing only on the task at hand without distractions that an in-house employee may have. As a result, they deliver work faster and of a much higher quality.
5.Reduce expenditures on new technology. – Technology is always changing. The moment a company finally has the funds to invest, new technology is on the rise. By hiring experts already using the latest technology, the company doesn’t have to train in-house employees to implement it.
6.Improve in-house productivity. – Allow your employees to focus on the crucial tasks. Keep your business moving forward by outsourcing mundane tasks such as data entry.
Drawbacks of Outsourcing
As with everything else, there are always drawbacks. If you pay close attention, do your research whom you outsource to, and always read the fine print, you should be fine.
1.Loss of control. – If you assign work to an outsourcing company or freelancer, be aware. Without controlling the results, you may find yourself worse off than before. Outsourcing requires a bit of organization and work on your side to maintain quality and move forward.
2.Hidden costs. – If you choose to outsource work to a company, be diligent about what you are signing up for. There is often a small print that may incur more costs than hiring in-house. Always review the contracts carefully. Make sure you are aware of what you are paying for and which added costs might come up.
3.Security risk. – If what you plan to outsource requires sharing personal customer or employee data, it could pose a risk. Always consider what type of work you plan on outsourcing and hire trusted companies and freelancers.
4.Time difference. – Many outsourcing companies and freelancers may be working in a different time zone. This might make it challenging to sync with your schedules. However, with good time management, there are always ways around it.
5. Language barriers. – Remember that many outsourcing companies and freelancers are not native English speakers. This could pose a problem with the language barrier. However, if you do your research well, you can find fantastic professionals with perfect English.
6.Moral dilemmas. – One of the moral dilemmas may be denying someone from your team an opportunity to grow by outsourcing work. The possibility of stumping the growth of your community by not working with a local talent agency. Another issue is that some consumers frown upon outsourcing.
In essence, the benefits of outsourcing for small businesses outweigh the drawbacks. This is because you need to keep up with the big guys if you wish to grow as a company. The best way is by having experts on your team that many small businesses can only afford in-house.
A small business requires a dream team to advance and keep up. Outsource as much as possible by finding companies, or freelancers on sites like PeopleByTheHour and UpWork. Even small businesses could build a dream team,save money, and keep up with the latest changes in technology.
Which tasks you feel could be outsourced in your company?
Question: Would you outsource to give your in-house team more time to focus on important tasks? Share your thoughts in the comments below.
Hristina Nikolovska is the appointed Community Manager at WhatToBecome. Using her extensive background in digital marketing, as well as her social media and public relations experience, Hristina’s passion is helping others stay organized through clear communication and pushing for the realization of projects of every sort.
Victoria Treyger shares “There’s a reason email marketing ranks high on our list of recommendations for small businesses and startups: It works. Regardless of industry or organizational size, marketers across the board point to email marketing as the tactic that produces their highest return on marketing dollars invested. ExactTarget.com’s 50 Email Marketing Tips and Stats for 2014 reported that marketers received an average return on investment of $44.25 for every $1 spent on email marketing.
Not only is it effective, it’s also desired. In study after study, consumers regularly say that email is their preferred channel for brand communications. According to MarketingProfs.com, a study suggests that for nearly one-third of all consumers, email is the communication channel they prefer when it comes to marketing.”
Chris Dunn says, “According to the Pew Research Center Report of Social Media Usage: 2005-2015, nearly two-thirds of American adults use social media now. This is a near tenfold increase within the last decade.
Popular social media channels include Facebook, Twitter, Instagram, Pinterest, Reddit, LinkedIn, Google Plus and Snapchat. Each of these social media platforms are unique in its own right and require unique ways of engagement. Rather than try to master it all at once, choose a few you like and try to master those first.”
Megan Marrs shares, “I don’t think I even need to say this, but it’d be neglectful not to mention the importance of kick-ass content. If you can create it yourself, all the better (isn’t free always better?). Even if writing isn’t your strong point, you shouldn’t have too much trouble getting someone on your team to crank out some articles for your blog. Try top 10 lists, tip collections, best practices for your industry, etc.”
Susan Solovic shares, “I started my corporate career in the field of public relations and the business has changed significantly because of technology.
Today, by marketing your small business you can accomplish a lot without hiring a professional firm. Subscribe to Help a Reporter Out. You can respond to reporters’ queries that are looking for story ideas and resources. Some are small media opportunities, but others are major media outlets that use this service too.”
As you can see, marketing your small business doesn’t have to be daunting. The tools you need are more accessible than ever, and with these tips (along with a little creativity), you can build an effective strategy for your business.
QUESTION: Have another Tip (or question) for marketing your small business? Share with us in the comments below!
P.S. If you want to see the best results from implementing these expert tips, it’s important that you first know who who your ideal customer is, where they are, and what they will buy. Instead of using a spreadsheet, be sure to Download our FREE Customer Avatar Template Worksheet to get clear on exactly who you’re selling to.
Running your own business is hard. Running your business all alone is even harder. 😩
There’s so much advice out there it’s hard to know what to do and what to focus on first. You’re worried about following the wrong advice, or just as bad …. The right advice at the wrong time.
You can commit to working harder …. But, what if you’re working hard on the wrong things? You’ll easily waste months and even years spinning your wheels. 😭
Your friends and family don’t know what it’s like to be an entrepreneur. They don’t understand the challenges you face running your own business or how to solve the problems that keep you up at night.
Right now, you have no one to talk to who can give you meaningful support and actionable advice.
📍You need to FIND YOUR PEOPLE.
Take the first step … right here … right now.
✅ WHAT IS ONE DECISION YOU NEED TO MAKE IN YOUR BUSINESS RIGHT NOW?
Don’t be afraid to put yourself out there. By sharing a decision you’ve been delaying to make or a challenge that’s got you stuck … not only could you receive some 💡great ideas 💡 to help you … you’re also helping so many others who are facing the same challenge in their business.
As you know, one of my goals with this blog is to help you find new, better and more efficient ways to increase website traffic, build your email list and improve conversions and sales of your products and services
That’s why I’m always on the lookout for great new tools and resources that can help accelerate your results.
A while back my friend Cary Richards over at Infostack produced an amazing bundle of resources called: “The Traffic Secrets Super Stack,”
It was hugely popular but there was one problem.
It was only available for a week and a bunch of people missed out on it…
Well… I’ve got good news today!
The response was so great that they have decided to bring it back and make it available for another few days.
“The Traffic Secrets Super Stack” is a hand-curated collection of over 25 premium eCourses, video training, memberships and workbooks that include information like:
How to grow your email list to 10,000+ subscribers
Master Facebook advertising so you can crush your next marketing campaign
Behind the scenes of YouTube traffic
How to get referral traffic from influential people in your niche
Social media hacks (how to use platforms like Instagram to grow your reach, influence, and profit)
How to use cold email to get results (without burning bridges or looking like an amateur)
And much more.
Now, typically, you’d have to spend over $3,000 + to get your hands on everything packed inside the Traffic Secrets Super Stack…
But this week, (for a limited time) you can get everything for over 98% off.
But don’t hesitate, because after next Monday the stack goes away probably for good this time.
As you know, I very rarely make offers to my blog.
I only share things that I feel are a tremendous value that you can’t miss.
When I learned about “The Traffic Secrets Super Stack”, I knew immediately it was a winner. Seeing the final lineup of ebooks, e-courses, and more – it’s clear that this bundle is well worth the insanely low price you pay to get access.
So that’s why I’m sharing it with you.
My hope is that you’ll take a look, and, if it feels like the right fit for you, you’ll take action before this amazing deal expires.
P.S. I forgot to mention: there’s absolutely no risk to check out this deal. You see, the guys over at Infostack have a best-in-class, 60-day, no questions asked, money refund guarantee. That means you can get instant access to everything in this bundle today, and take the next 60-days to decide if it’s the right fit for you.
SEO can seem like a minefield. Part of the problem is that there is a lag between the time that you implement changes and the time that you see the results of those changes. You could do everything right today, and still not see positive results for two to three months.
That can be quite disheartening, but it’s the way the system works. The best you can do is to understand what ranking factors carry the most weight and then aim to create content that will help you score with the search engines.
The good news is that these tips will work for any other search engine.
Quality of Content
Publishing top-quality content is something that Google told us to do a long time ago. And it makes sense. If you’re putting out great content all the time, it’ll be considered valuable by your audience. It’s more likely to get it shared than anything else.
High-quality content will make your audience stay on your site for longer because it gives them the answers that they were looking for. The longer someone stays on your page, the better it looks in the eyes of the search engines.
This is how many people click through to your site from the search results. To get more people to click through, make sure that the meta description has been well-written. It should be relevant to what’s on the page so that people know exactly what they’re clicking through.
It’s tempting to use a clickbait title, but that strategy backfires quite quickly as it’s bound to lead to an increase in the bounce rate.
A high bounce rate will kill your site’s traffic fast. If people click through your site and then bounce off quickly, search engines will see this as a sign that the site didn’t have the answers they were looking for.
A good tip is to link through to a related, interesting piece of content on your site. This keeps the audience longer on the site and encourages them to explore it further. If the content is, say 3,000 words or longer, can you break it up into two parts? This would mean that the person has to click through to at least one other page.
It’s the principle that those sites with slideshows count on. Those are highly annoying, so we don’t recommend making the person click through to another page more than once or twice per article.
One ranking factor is how many quality sites have linked through to yours. There are a lot of ways to go about link-building. If you’re creating outstanding content, though, other sites will naturally want to link through to you.
Never buy backlinks or offer a link-for-link trade. If you get caught, and the chances are good that you will be, the search engines will penalize you.
Those are the main link factors used to suss out great content. Present excellent content every time, and you’re bound to see your organic traffic rise. If you’ve got top-notch content and your pages load fast, therefore you’ve won half the battle already.