Tips on how to achieve productivity in business

The following are the tips I learned from other business owners on how they increase productivity in their business which I think fellow entrepreneurs can learn from:
EFFICIENCY: As entrepreneurs, we need to be efficient by considering how our business is currently operating and be open to the potential of changing the way we work. We also need to prioritize tasks especially if the business is small. We need to check if there is a better way employees can structure their day to enable them achieve their daily goals, providing each member of staff with a plan and encourage each to make a list to ensure he or she completes prioritized jobs on time and stay on tasks all day results in efficient working.
DELEGATION: Give responsibilities to quality employees that have a proven track record with success in a certain field, and trust that they will perform the tasks well…
REDUCE DISTRACTION: Try to keep employees focused and engaged while allowing them breathing room. Encourage employees to turn off their mobiles but take a regular breaks during which they can be free to check their phones. This will ensure that the time they spend at their desks is more productive.
OFFER SUPPORT AND SET REALISTIC GOALS: A common problem for managers is having no clear, strong sense of whether or not their employees are highly- performing. Do your employees need an incentive to stay on track? Help them by offering goals that are achieveable. Provide clean directions to supervisors and employees to help clarify expectations.
ENSURE EMPLOYEES ARE HAPPY: A stressful work place will not yield results. Workers that constantly work under highly stressful conditions are likely to be less productive and have high level of disengagement and absenteeism- They need to be happy!
Showing employees how much the company appreciates, respect and value them on a personal level is gratifying - and often overlooked.

15 Likes

@GOODNEWS_PETER thanks so much for this tips

1 Like

employers should learn to appreciate their employees and also vest in them this gives them the sense of belonging to the businesss

2 Likes

Thank you Goodnews for your tips on how to run a successful business.
I want to suggest an important factor that makes a business unsuccessful. As a matter of fact, what make a business unsuccessful are basically risks that are not mitigated. If you know what may affect your business and you find ways to prevent, manage or mitigate them, you would be in business for a long time.

What is risk? According to Warren Buffet an erudite billionaire investor in Vintage Value (2016) “risk comes from not knowing what you’re doing.” With this definition, I believe that risk is measured by degree of probability. That is, the knowledge base of the entrepreneur to manage his business how a lot to do with the productivity of the business. The more knowledge requisite on the entrepreneur, the better the chances of the business to succeed.

Business risks comes in many ways, it could come from forming poor partnership, by recruiting incompetent workers, by not acquiring requisite permit(s) to run your business, by raising fund (especially loans) in a poor unsustainable way, by not understanding your market and its dynamics, inability to manage poor infrastructure in your business environment, the inability to manage and adapt to change, poor socio-cultural acumen of your host community and more. These risks if not managed would make the work of running a business to be unproductive.

It is recommended that an entrepreneur does due diligent studies of his business environment before delving into a business.
I hope my contribution supports your tips. More contributions would be appreciated.

Emile Osiri
princeemile@yahoo.com

Reference:
Dillion (2016) “How Warren Buffett Thinks About Risk” Vintage Value Investing, [Online] Link: https://www.vintagevalueinvesting.com/how-warren-buffett-thinks-about-risk/ (24th June 2020)

4 Likes

This got me thinking. No goals no business. Thanks

5 Likes

That’s a good tips

Nice one, thanks

1 Like

I appreciate you

Nice tips

good evening TEFconnect, beautiful evening everyone. thank t\you goodness peter for those beautiful tips, there’s one observation i have, in the aspect of delegation where you talk about giving your employees the chance to go check their phone what if the employee on the process of checking his phone or trying to call saw messages or calls that could piss one-off, get him/her angry and distracted feeling sad and unable to continue with his/her work, in this case, what would you do? because you create room for that, or the person knowing how the company is been run, knows when the company does carry money from the company to the bank and use that said opportunity to alert criminal to go after the accounting department like the one that happened in the company I once worked for in Lagos, what will you do? prevention is better than cure. let everyone submits his or her phone when signing in and collect them when signing out. thank you. i hope this will make sense

1 Like

Very useful tips…Kudos

Thank you for this. It is very helpful.

Very important tips , thanks