Every business goes through a steep learning curve. While we all have lessons to learn one of the biggest is in minimizing downtime. Everybody talks about efficiency as this crucial component. And yes, they are correct, but to minimize business downtime it’s not as simple as cutting corners or minimizing expenditure. When it comes to minimizing downtime and maximizing efficiency, what are the big takeaways that every business can learn from?
The Little Things That Nobody Else Will Notice
Ensuring that everything is running at its optimum is vital. And this means taking notice of the things that nobody else would. When it comes to an industry like manufacturing there are so many small components that need addressing to make every part of the conveyor belt work efficiently. If your machines don’t work, nothing else will, so think about the tiny components that need addressing at these points. Even something as simple as oiling the machines needs addressing. There are providers like CITGO Lubricants and numerous others that work to make the smaller components of machinery working at its optimum. When you start to take notice of the little things it makes you appreciate the bigger things.
Regular Maintenance
It sounds obvious but having regular maintenance is something that many companies don’t have the time for. As businesses feel that they need to continue pushing forward it means that there’s more pressure piled on each individual worker and when there is a problem with this system or they’re not able to do the tasks efficiently, it’s not until there is a major spanner in the works that this becomes apparent. Having regular maintenance set to a schedule will make sure that you are prepared for such an event. We have got to remember that each piece of equipment has a certain life span. And rather than waiting for it to run its natural course, if you schedule regular maintenance checks you will end up saving money and stress.
Visualize What Downtime Looks Like
Many companies aren’t prepared for downtime until they face it square in the jaw. Once you learn from this you are better prepared. But it’s a far more proactive approach to visualize what downtime looks like for your business. Are people sat around twiddling their thumbs? How much money is being lost by the minute? When you start to ask yourself these pertinent questions you can put processes in place to minimize downtime and maximize efficiency in other ways. With something like technical issues, you could set up a system of notifications that alerts people to specific problems. This means that rather than it going to one person who isn’t able to start addressing the problem right away it goes to a specific team so they are able to get on the issue right away.
Nobody likes the idea of downtime but in order to make sure that you minimize it, it’s essential that you put the stops in place. This can be about maintaining the equipment itself but also about a far better approach towards visualizing the big picture.
Wherever you’re reading this, there’s a good chance that your life, work and career have already been significantly affected by the COVID-19 outbreak. We’ve already discussed the myriad ways in which the coronavirus continues to change the face of business and commerce, necessitating the need to lean even harder into a digitized economy. But even as we squint to see the light at the head of the tunnel, many of us are wondering if “back to normal” will really be an option once the infection curve has been flattened and the economic wheels begin to turn anew.
Should we go back to “business as usual”? Or should we use the recent disruption caused by the virus to reassess our goals, our priorities and our place in the world of work? Here are some questions we should all ask ourselves in this time of disruption…
What really matters to you?
With many businesses grinding to a halt, and yet more slowing down significantly, a lot of us have more time on our hands than we’re used to. We’re finding that we have more time to play with our kids, to laugh with our spouses and finally get around to reading some of the books that have been gathering dust on the shelf.
It’s time to recontextualize ourselves. To stop thinking of ourselves in terms of our jobs. To ask ourselves what really matters to us, and adjust our lives so that we have more of what brings us true fulfillment.
Is this the perfect chance to go into business for yourself?
The recent changes to the business landscape have created huge changes for many of us. But they have also been empowering. They’ve shown us that we can be more autonomous and proactive. That we can be entrusted with managing our own time and taking charge of our own productivity. They’ve shown that we have the skills to stop working for an employer who’ll never be grateful and start up businesses of our own.
Starting up a business from scratch is a daunting prospect, but it’s by no means the only way to assert more control over your career. Starting up a franchised operation like East Coast Wings & Grill can give you the autonomy that comes with running your own business with the support, training and brand recognition that you’d get as the manager of a successful business chain. Or, if you want to be fully independent without overheads, there’s always the life of a freelancer or consultant.
Why not use this as an opportunity to get off the treadmill and explore your options?
How will you vote for an ethical future with your wallet?
For too long we’ve turned a blind eye to companies mistreating their employees, engaging in unethical practices and damaging the environment. All because they bring us affordability and convenience. In recent weeks we’ve seen which businesses have done right by their employees and which have unceremoniously let them go without support. COVID-19 has made us reassess who does and doesn’t deserve our money.
Has the workplace become irrelevant?
Look out your window and you’ll see quieter streets, fewer cars and clearer skies. Do we really want to go back to our stressful and smog-infested morning commutes after this? Or has this shown that the workplace has become an anachronism and that remote working on a full or part time basis can improve our quality of life while also improving our environment.
Let’s use this as an opportunity to take stock, reassess and pursue a better tomorrow. Even if it’s the antithesis of “back to normal”.
So you’ve set up your business, but you’ve just hit your first speed bump on your road to success. What do you do? Keep reading for the two biggest lessons you will need to learn.
Create your business around something that you are passionate about
You might have a great business idea. Something unique, niche and that people would buy. Sounds perfect right? In theory, yes, but if you’re not going to enjoy working on it, day in and day out and on a level that’s needed to sustain your business model, then your business isn’t going to do well no matter how brilliant the concept is.
You have to enjoy your daily tasks, and your business should be a constant source of inspiration for you, leading to an abundance of fresh, new ideas for products, growth and business sustainability.
Make a list of the things that you enjoy and are passionate about if you don’t know how to get started. A standard working week is 37.5- 40 hours. It is often said that when you are running your own business these hours can sometimes double, if not triple, because there is so much that you have to put into it. But if this isn’t a labour of love and doesn’t set your soul on fire, then the hard truth of the matter is that it won’t be successful. However, if you are genuinely passionate and love what you are building and creating then yes, the hours might be long and maybe all of your spare times go only into your business at the beginning, but it will no longer feel like work, and that’s when you know that you are on the right track. Turn your passions into gold.
Preserve, Persevere, Persevere
There is no sugar coating it, starting a business from scratch is never going to be easy. In fact, if we are really getting into the nitty-gritty, truth be told, it might take many months if not years, to get the kind of business growth you want. But that doesn’t mean that you shouldn’t go for it – success is out there and 100% possible if you just keep on pushing. It has been estimated that 30% of new businesses fail during the first two years and only 50% survive to make it to the five year mark. This doesn’t necessarily mean that the business models and ideas are bad, but that the business owners gave up too soon and many people fail because they give up too early at the first few signs of difficulty. The saying’ nothing in this life worth having comes easy’ can now sound like a cliche, but there is some truth to it. Did you know that Bill Gates’ first business venture was a failure? This didn’t discourage him, though, and he took all the lessons he learned from that failure and tried again. Just imagine that if he didn’t, we would never have Microsoft. So try, try and try again. Research and try out the many resources and services that are available to you and use them to help you if you are struggling. Maybe you have your own plumbing business and require a plumbing answering service to help with customer service during those times when you are simply too busy to get to the phone, or you need the help of a website designer to get your site up and running. Whatever it is try, try and try again and if something doesn’t work out, rather than giving up, think outside the box and adapt your business models. While it may feel like you are working against the odds at times when you encounter those first few problems and signs of difficulty, just remember that perseverance will be the key to your success.
Entering into the manufacturing industry in the near future is something you have always wanted to do. Your business minded brain won’t let these thoughts slip away from you, so now is the perfect time to start making a plan of action. With any new business, you need to make sure that you’re 100% on board with your concept before you execute any ideas. Setting up a manufacturing company won’t be an overnight action, but you can start to map out your ideas right now. You want your new business to be your legacy one day, so you need to enjoy what you do. Entrepreneurs who take on businesses that they truly love, never feel like they’re working for a day in their life! This is exactly the type of feeling you want to have with your new venture. Here are some important pointers to keep you on track when it comes to manifesting your manufacturing company goals.
Invest in Excellent Equipment
Your number one goal as a manufacturing business is to create high quality and profitable products that your ideal customers want to keep investing in over and over again. This is the ideal time to start digging deep into what you want to create and how you’re going to do that. You may need to look into a Rapid Tooling Production Facility, which has the ability to print in 3D very quickly and effectively. Believe it or not 3D printing shortens manufacturing lead times and gives you the ability to product complex products that may otherwise be too costly or time consuming to make. Staying well informed on the latest manufacturing equipment within your zone of genius will serve you well when you’re first starting out. Investing in excellent equipment now will make sure that your new company is well prepared for your launch in the future.
Be Willing and Able to Evolve
As you know, businesses need to adapt to change and evolve frequently to suit the changing demands of their target audience and the economy. Keeping up with the latest trends and shifts will allow you to stay up to date with demand. Becoming tunnel visioned or set in your ways can be quite damaging to your company as this will prevent you from progressing and aligning with the needs of your customers. Keep your eyes open for new opportunities at all times and you will always be one step ahead.
Value Your Employees
The lifeline of your business will be your employees, no matter how big or small you are. You need to make sure that they are well equipped and well trained to deal with their day to day duties. Keeping motivation levels high in the manufacturing industry is often difficult, but if you hire people who are really passionate about the industry, this won’t be as much of an issue.
Hopefully these ideas have given you some inspiration to kickstart your new manufacturing business. First of all, you should discover where your true passions lie; the rest of your plans will follow after this. As the owner and director of your new business, you have the power to pivot your ideas in any direction. So take this opportunity to start mapping out big plans for your future.
Technology and running a business go hand in hand. As you’ve no doubt seen over the past five or even ten years, companies are embracing technology even more, creating a more streamlined and efficient operation that will benefit the employees, the customers, and the business as a whole.
But if y6pu’ve not yet embraced the best streamlining practices, you may be unsure where to start. If this sounds familiar, these are the best ways in which you can streamline your business through technology and see a considerable boost in productivity almost instantly.
Support
Streamlining your IT support will have a vastly positive effect on your business operations. In particular, outsourcing services are ideal for streamlining this process, as it provides around-the-clock support to identify and overcome any issues.
You can find more details about how IT support can benefit you and increase productivity by decreasing downtime and other system problems that could grind the whole operation to a halt. This support will work remotely and save you money compared to an in-house IT team, and as they are focused only on IT support, you can trust their attention will be dedicated entirely for you.
This gives you the confidence that you will always have a backup should something occur. You won’t need to wait around for your IT support to arrive and fix any problems, but instead, have everything fixed swiftly off-site.
Engagement
Keeping customers and even future customers engaged can be a challenge. Your marketing team needs to carefully customize emails to send out, research which tweets or posts were the most popular, and then adjust your online marketing strategy from there.
It doesn’t need to be like this, though. Manual analysis of marketing data and information can be tedious. It takes time, and after so long, the numbers, charts, and words will become meaningless to whichever poor intern you’ve tasked with going through them with a fine-tooth comb.
Using Adwords and similar programs, you can reduce the time it takes to analyze this data, freeing up time to focus on the more essential aspects of the business.
Digitize
Most people may not remember; however, there was once a time where all the data and information regarding customers, employees, and more was stored in filing cabinets somewhere at the back of the building.
If you needed to locate anything, you needed to crawl through these filing cabinets, and this took time, energy, and you might not even be able to find what you need. Because of this, it’s worth moving your data from a physical location to a digital one.
Digital storage allows you to locate information by typing in a name or reference number, and you can do this from your desk wherever you are in the world. However, as this data is not on the cloud, you need to invest in excellent cybersecurity to ensure this information is well protected.
Streamlined and Productive
Productivity is something every business strives for when searching for growth and success. To make this productivity a reality as quickly as possible without becoming overwhelmed by work, it’s worth considering how technology can help streamline your practices from top to bottom.
When it comes to your business, trips might need to be organized for yourself or relevant staff members. This could be for meetings with new clients or perhaps attending conferences that may be lucrative to the company’s success. Here are some tips for sending your staff on business trips.
It’s good to set expectations when it comes to your staff on business trips. Some can easily take advantage of the fact that they’re getting an all-expenses work trip paid for and therefore they may overindulge for the sake of it. If you’re getting some ground rules and expectations about what you want to achieve over the course of the trip, then they’re likely to go off on their own accord. Expectations also come in the form of how your staff behave when they’re away and possibly representing the business. If your staff start behaving badly in any way at a work event, then chances are it’s going to reflect badly on you. The more rules you set in place, the more well-behaved your staff are likely to be.
Factor In Any Legal Duties
There might be some legal details you need to get covered if there are opportunities for staff to go work over in a country for a set period of time. It’s worth looking at companies who offer the highest immigration success rate, if you’re going down this route. You might just need some advice on what type of visas and documents are needed in order for your staff to work over there without any issues. Try to figure out all of the legalities that might be needed before you start sending off your staff members without the proper procedures put in place.
Give Them A Budget
A budget is a good way of keeping a tight grip on the expenses. It’s good to set this allowance per day and to make sure that it is sufficient enough for them to live off while they’re working for you. When they’re away from home, they should be able to expense their food and any transport costs that you see fit. This is something you can discuss with them to ensure that they’re giving you enough or too much. By having a budget, they won’t start overspending on the company credit cards too.
Make Sure An Itinerary Or Objective Is In Place
An itinerary is a great way of getting your staff to follow the necessary objectives you might have in place for them. If it’s a conference, for instance, you might want to make sure that you’ve set out a timetable of workshops or talks that they must attend or people to speak to. By giving them an outline of what’s expected, they’re more likely to be efficient in the work they get done for the business.
Sending your staff on business trips can be very beneficial for the company. Use these tips if you’re new to sending your employees away for the first time.
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