What you need to know about expanding your small business
Small to medium sized businesses have faced many challenges over the last few years, so now is a welcome time to assess where your business is currently, and seek out opportunities that will help you level up.
As a small business owner, implementing strategies that boost productivity will enable you to get things done more efficiently, in both the short and long term — making it that much more likely that your business goals will be realised.
To help set you up for success we’ve pulled together some top tips to help with your business productivity.
1. Prioritise your tasks
It might sound like a no-brainer but taking some time at the beginning of each day or week to organise and prioritise your to-do list is a must — it’s critical that you know exactly what’s on your plate and have a plan to tackle it so the days don’t get away from you. Creating digital checklists and standardised procedures is a great way to help keep you (and your team) on track, so it’s worthwhile investing in systems that make your lives easier such as this one.
All items on your to-do list aren’t created equal – make sure you identify the most important things to get done so they’re out of the way and don’t get lost when things get busy.
2. Make a schedule (and stick to it)
Designating time to accomplish your tasks is just as important as prioritising them. This ensures you’re giving yourself enough time to complete each one to the best of your ability, and gives you a good overview of your schedule so you can keep your work-life balance in check.
Daily scheduling is key — simply coming to work with the intention of doing as much as possible will inevitably mean you don’t spend your time wisely, and leaves no room for those last-minute tasks that pop up and take you away from your priorities. Blocking out your time and knowing what you’re doing when, will help keep the business moving in the right direction. It’s a good idea to set up a shared calendar and file storage system to ensure everyone’s commitments are visible, and the most up-to-date details and documents are easily accessible.
3. Invest in time-saving systems
Running a business is time consuming but you don’t have to go it alone — there are a host of clever systems you can incorporate into time-sucking processes that will save you time and energy. Embrace technology that simplifies key business activities and makes your life easier so you can spend time on other important business areas.
Here are some ways you can use tech to save time:
- set up standardised emails that you can send to customers who enquire about your products/services
- create an FAQ resource that you can use when responding to messages
- create templates for marketing material like emails, newsletters, brochures, and user guides
- schedule social media posts in bulk so you can keep your output consistent
These time-saving solutions have the added bonus of keeping your brand consistent across all channels, upping your trustworthiness and reputability.
4. Let your team do what they do best
Play to your team’s strengths. When it comes to business, it’s important to leverage skills in your team to spread the load and make the most of different people’s expertise and interests, and to ensure every task doesn’t sit with you. Consider asking your team to participate in a free online strength finder quiz so you can get a better understanding of what makes each person tick and how they like to be managed and motivated.
As well as boosting business productivity, empowering your team allows them to play to their strengths, and feel connected and engaged in the business and what you’re trying to achieve.
5. Leverage insights
Information is key to increasing business productivity. Analysing insights, from sales to how people are engaging with your brand, puts you in a position of power to make clear and objective decisions that will strengthen your business.
With the Tyro App, you can view and manage your business from the palm of your hand. Including transactions and takings, this information can help you determine your peak periods in real time and reconfigure your resources to maximise productivity and profit — whether that’s staff, opening hours, marketing, or location-specific inventory.
When you want to deep dive into details access the Tyro Portal; here, you’ll find a suite of information including past invoices, reconciliation reports, merchant service fee breakdowns, cards and verification methods, and cancelled or declined transactions. You’ll also be able to create reports of transaction amounts for each EFTPOS machine over a specific period.
6. Create balance
While it’s tempting to spend the majority of your time on immediate-win tasks, ticking those less urgent but important tasks off your to-do list is just as valuable for business.
Set aside some time for routine sessions where you dig into the analytical, reflective, and planning side of things. You never know when insights will strike you that might be the key to your next stage of business efficiency and growth.
7. Look after yourself
Your own needs can often take the backseat when you’re busy running your business but it’s important to practice good self-care so you can feel and be your best.
To improve your physical and mental health, try implementing more of one activity, food, or habit that makes you feel good. When you find self-care practices that work, practice including them as part of your daily schedule so this investment in yourself is prioritised.
These measures can have a positive impact on your overall health and wellbeing, allowing you to put your best foot forward.
Wherever your business takes you in 2022, remember that looking after yourself is equally important to looking after your customers and staff.
Want to explore the productivity boosting features of the Tyro App and Tyro Portal? Click here.
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