Small Changes Add Up To A Big Gain
Posted on 11th September 2020 at 12:40
If you run a small business, you will always be looking to cut costs somewhere. Within the first five years of a small business’ existence, many fail, while the ones who succeed often barely turn a profit. These are hard times for small business owners who struggle to make ends meet. If you know exactly what we’re talking about, then read on to find out how your small changes can add up to a big difference in expenditure.
Over the last few months many businesses, large and small, have found it a challenge. SMBs, in particular, have been affected as their reserves are not as large as bigger companies. Below are a number of tips that make small but effective changes without cutting corners on the essentials.
It’s The Little Things
People always say, ‘It’s the little things in life that make the difference.’ So much so that this phrase has become a cliché - but that’s simply because it is true. We all do this in our daily lives - shop the clearance section at the supermarket; immediately head to the sale rail in clothing stores. The list goes on. This is because deep down, we know that those extra pounds and pence matter at the end of the day.
Monetising Your Tasks
If you run a team of employees, think of each task as worth a certain amount of money, depending on the hourly rate of the employee. For example, if you ran a coffee shop, each morning one of your employees would spend time stocking up the milk fridges for the day ahead. If bringing all the cartons up from the basement and stocking them takes thirty minutes for one employee who earns £10 per hour, this task has cost you, the employer, £5. Next, your employee brings all the fruit upstairs for the smoothie machine - this is another thirty minutes, and another £5 spent by you.
If these tasks were implemented into a workflow routine and coupled together - your employee could carry both milk and fruit in a larger crate or tray - then both tasks together could take, say, forty minutes altogether. So instead of £10, these two tasks have now only cost you £6.
These tiny changes don’t sound drastic - that’s because they aren’t. That is the beauty of these small changes; they add up to a big gain. You don’t have to overhaul your business model or let go of any employees - instead, you can simply organise your workflow into similar tasks grouped together. This allows more efficiency and will save you money in the long run. That £4 you saved on the two aforementioned tasks, over seven days, makes £28. Over four weeks, coupling these tasks has saved you £112.
Organising your workflow doesn’t take a rocket scientist, just a little forward planning, and training of your employees to implement this system. After that, you can watch your savings pile up, shoring you up against turbulent economic times ahead.
If you believe that your processes need to be updated or reviewed at these challenging times, then why not contact us today for some unbiased advice? Call us on 0115 888 3220 or visit www.greengiantconsulting.co.uk to book a free initial 2-hour consultation.
Tagged as: Business Change, Business Improvement, Business Strategy, Process Improvement, Project Health Check, Strategy, System Strategy
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