Efficiency in Small Business

Ateneo Professor on Entrepreneurship

From Huffington Post by Brian Honigman | July 3, 2013

A business needs to be efficienct always:

1. To serve customers fast;

2.  To be competitive

3.  To survive and thrive;

4.  Reduce costs and improve profitability

How to do it:

1.  Analyze your cost on how you acquire customers whether by web, by normal media or traditional selling;  from the data you can improve how you can acquire customers faster and at lower cost;

2.  Make it easier for teams to collaborate and work together:  to work on a project, serve customers better

3.  Be mindful of employee happiness and well being:  health and recognition, night out, dinners, etc.

4. Standardize documents/processes

5.  Analyze how the time spent:   work schedules, inputs, outputs