How to Instantly Improve Your Small Business Bottom Line

For any business becoming more successful and improving that bottom line can be an investment in frustration. But for a small business, it is essential for survival. Because so many small businesses need to be able to turn a profit from close to the start of the business, finding ways to cut costs, improve efficiency and up the productivity without losing sight of your original goals is the all too familiar dance.

So, before you waltz your company into oblivion, why not look at what other successful small businesses have done to stay on top? Sometimes it is a matter of using the right tools. Other times it is simply a matter of looking at a problem in a new light. Here are a few ideas we have gleaned from small business owners of every stripe and size on how to make that bottom line sing, in black instead of red.

Get a Handle on Those Meetings

Do you ever feel like our meetings are taking over your life? If there are any one things that just about anyone will say is a waste of their time and creativity, it is weekly meetings. So, when you call them, know why and get a plan in place to make them fast and productive. Some companies have made their meetings into standup chats, to give everyone an incentive to keep them short. Never have a meeting just because you always do – make sure there is an agenda and reason. And most of all, no lectures. This is all about sharing information so everyone needs to have time to bring something to the table.

Use “The Cloud”

Today more and more companies are using cloud based tools to keep everyone connected. Everything from project management to time solutions can be done here, so why not? It will allow sales members to work from the road, staff with small children to flex their time and still be a part of the team and keep everyone in the loop. So, include The Cloud in your plans for keeping that business connected and successful.

Tools for Improved Team Productivity

To begin with, there are plenty of great software tools out there that can help companies of any size communicate better. This is essential with all kinds of businesses and using an enterprise resource planning (ERP) solution such as Dynamics Ax can get your there quickly. While designed primarily for enterprise organizations, this can be scaled to fit any kind of business. If this isn’t your cup of tea, be sure to look into business solution companies such as AlfaPeople to help you find the productivity tool that suits your size and type of business.

Team Work

While most small businesses begin with just one or two people, to succeed they need to grow. This means you need to make sure you have a good team behind you. It also means that at some point you have to trust that the team you hired will do the job they were hired to do and get out of their way. Reward them for doing it right, point out what needs to change when they miss the mark and most of all trust them. In the end the best way to grow a business successfully is with smart trusting teamwork.