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Earn More, Work Less
5 Practical Steps To Boost Productivity
1. Intro
“Focus on being productive instead of busy.” Tim Ferriss, American podcaster, author, and entrepreneur once advised. Before I discuss how to boost business productivity, here are a few facts you should know;
It takes an average of 23 minutes and 15 seconds to get back to the task. That is 4.8% of an 8-hour workday. “After only 20 minutes of interrupted performance people reported significantly higher stress, frustration, workload, effort, and pressure”(Source)
On average, Tuesday is the most productive day of the week. Productivity peaks on Tuesdays, where workers log an average of 6 hours and 59 minutes of productive time. Productivity bottoms out on Fridays at 6 hours and 44 minutes. (Source).
The most productive employees are likely to utilize AI and automation in their work. Productive workers are 242% more likely to use AI and 78% more likely to use automation than their less-productive colleagues. Also, workers who use automation can save 3.6 hours per week. (Source)
70% of employees say they would be more productive if they were in fewer meetings. 1 in 20 professionals spends 20 hours or more per week in meetings. An additional 12% are in meetings for 12-20 hours each week on average. (Source)
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2. Why focus on Productivity?
It gives your business a competitive advantage
It makes your business attractive to investors
It creates a more positive work experience for employees as they can get more done in less time
It enhances decision-making
It fosters innovation
It promotes scalability
3. How to boost business productivity
Define what productivity means for your company
Defining what productivity means for your company will help it become more productive because it will provide clear goals and expectations. By having a shared understanding of what productivity means in your company, everyone can work together towards a common goal and prioritize their efforts in a way that aligns with the company's overall objectives. This can ultimately lead to increased efficiency, better utilization of resources, and more positive results for the business.
Look at the existing structure and identify the bottleneck
When you scrutinize the existing structure of your company, you'll be able to identify areas of inefficiency. From here you will be able to:
Streamline processes - By identifying bottlenecks and redundancies in the current structure of your company, you can comfortably streamline operations and increase efficiency.
Allocate resources effectively - Identifying areas where resources are being misused or underutilized will help you make better decisions on how to allocate those resources to drive maximum productivity.
Improve communication - Being able to realize the problems in communication channels and addressing, them can lead to better collaboration, a clearer understanding of responsibilities, and more efficient decision-making in a company.
Reduce waste - Knowing areas where resources are being wasted, can help you eliminate inefficiencies and reduce waste, leading to improved productivity and profitability.
Use technology to improve your operation
Using technology improves productivity rapidly. Technology can automate repetitive tasks, streamline processes, improve communication and collaboration, provide access to real-time data and analytics, and enhance customer experience among other benefits. By leveraging technology, businesses can optimize their operations, increase efficiency, reduce the risk of errors and delays, and then achieve improved productivity.
Alone, we can do so little; together, we can do so much
Build a team and delegate some task
Having a team will speed up productivity since tasks can be divided among team members. This gives you “the business owner” sufficient time to focus on high-level tasks and decision-making, rather than getting bogged down in the details of daily operations. However, the process of delegation needs to be properly managed by setting clear expectations, and proper communication, to ensure that your team can work effectively together towards the common goals of the business.
"If you don't know where you are going, you will probably end up somewhere else."
Set clear goals and establish your priorities
This is to say having a well-defined direction and objectives allows your company to allocate resources effectively, prioritize tasks, and measure progress. Furthermore, it helps focus the team's efforts and energy toward achieving the company's mission, leading to better results and increased productivity.
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Best Regards.
Alex