7 Ways to Run Your Business as Efficiently as Possible

November 7, 2016

7:00 pm

Efficiency is the key to success when it comes to startups. With minimal resources and a need to succeed as fast as possible, there is no time for excess in running a business. Keeping employees productive and driven will go a long way in staying efficient. Whether it be automation or documentation, there are always ways to improve your company’s day-to-day efficiency.

We asked seven entrepreneurs what they think the best way to be efficient in business is. Take a look at their responses below:

Use Task Management Software

Email isn’t an ideal method of communication or collaboration on teams. At Hubstaff, we use task management software like Trello so that our communication and work progress is all in one place. It saves everyone the time of having to go back and forth on emails, and it also lets us track progress more efficiently.

– David Nevogt of Hubstaff

Automate What You Can

Business automation is not just a luxury; it is a necessity in today’s competitive environment. Automating monotonous tasks saves your employees time and allows them to do more productive tasks that require critical thinking or a human touch. In addition to bolstering efficiency in the business, automation can cut costs in the long run (even though it might be pricey in the present).

– Vik Tantry of FormSwift

Encourage Face-to-Face Interaction

Skype, Google Chat and other online communication tools are always helpful when trying to shoot over a quick message to your colleagues. However, face-to-face interaction really speeds up the process of solving a problem, answering a question or getting something important clarified. Encouraging employees to openly talk with each other when they need to will create a steady flow of information.

– Miles Jennings of Recruiter.com

Hold a Daily Company Meeting

Each day, we gather as a company for a 10-minute meeting called the Daily Huddle. The meeting serves as a firehose of information that keeps everyone in the loop, including a roundup of our key performance indicators, the celebration of accomplishments, and the identification of opportunities to improve. This process keeps us running efficiently as unnecessary meetings are eliminated.

– David Ciccarelli of Voices.com

“Single-Task” to Get More Done

Our entire company is currently working on upping our “single-tasking” game and not moving on to the next project until the current one is complete. “Single-tasking” allows you to get more done quickly by not letting projects rot on the vine when they’re almost complete. It’s easy to falsely feel productive when you have 10 projects going on, but nothing actually getting out into the world.

– Laura Roeder of MeetEdgar

Discourage “Got a Minute?” Meetings

One of the most common and inefficient uses of time and energy are frequent “got a minute?” meetings. These meetings are the ones that are unscheduled and typically distract from productivity. The reality is that almost nothing important can be accomplished in one minute, which means one minute turns into 15 minutes or longer and ends up being a terribly inefficient management of time.

– Kristopher B. Jones of KBJ Capital

Stick With the Process

Stick with the process that is established. If we try to cut corners to speed up the process, something gets missed, which must be fixed later and costs time and money. Things go more smoothly if we stick to the process we started with. Processes can be changed, but they should be changed intentionally and with communication to the full team after the potential change has been approved.

– Angela Harless of AcrobatAnt

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Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world's most promising young entrepreneurs. YEC members generate billions of dollars in revenue and have created tens of thousands of jobs.

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