Productivity is the exchange between your time and your output. While there is no way to change the fact that time is limited, your actions within it can always fluctuate as you work on various projects for your business. When we are able to increase our productivity both individually and within our teams, we’ll feel better and more empowered to do our jobs within our business. Additionally, increasing productivity within your business can also allow you to increase your growth and profitability within your business. If you’re still not convinced by the fact that productivity in your business matters, keep reading.
Business productivity can help you better understand your profits and your ability to grow
Productivity is the exchange between your time and your output. Time is limited and cannot be changed in any way, but as you work on various aspects of your business, what you accomplish with that time will always fluctuate over time. For example, let’s say you’re a small business owner who runs a social media agency. You charge $1500 per month for your social media management services, and you work with this client for 50 hours each month. Based on this, you’re billing your client $30 an hour for your services.
Now, suppose you can reduce the time you spend with the client by 25 hours while maintaining the same rate of payment. In this case, your rate would be $60 per hour. Improving your productivity can allow you to increase more within other areas of your business.
Business productivity can make your team feel better about their work
We are guaranteed to put our best effort into any work when we feel happy about what we’re doing. Working systems and processes within your company can raise team morale in general. This results in an environment you’ve established where individuals feel free to perform at their highest level
Managing the productivity within your business can provide transparency for the work that is being done among your team members. As a result, you can create a culture where individuals can do their best job and discover any gaps that may exist, setting up your business for success.
Business productivity can help you make better decisions for your business
When it comes to your business, you need to be making data-driven decisions as opposed to emotionally-driven decisions. Data-driven decisions come from a place of understanding what your business needs across different departments. A higher level of business productivity will enable you to make better decisions. You won’t be under stress as you work and you won’t be acting out of desperation.
When running your business, you want to operate from a place of ease. Your business will occasionally be stressful. However, you shouldn’t let that affect any choices you have to make. Make a decision when you feel like your business is in a healthy position so that you can be sure you’re making the greatest choices possible.
Business productivity can show you what’s not working within your business
There will undoubtedly be certain aspects of your business that are inefficient or take too long to do. However, if you concentrate on increasing your productivity, you’ll be able to see where gaps exist and fill them in a way that saves you time and money. Every two to three months, I advise you to audit some of your business systems and procedures to ensure that they are still in line with your business’s goals. Through this process, you can find areas where you can delegate or even automate to free up some of your time for other things.
Business productivity matters because it showcases where you and your team members are allocating their time. It shows where the gaps are which will allow you to make more improvements. Want to chat more about how to be more productive within your business? DM me on Instagram or Twitter