Small businesses have the extremely important competitive advantage of flexibility. They are able to be much more agile than larger rivals and so long as the business is run in a lean and efficient manner where costs are cut and productivity is boosted, it can be extremely profitable. If you are looking to streamline your small business here are a few tips.
Do what you do best
Arguably the most important decision a small business owner can make is when and how to hire outside experts. Freelance professionals can enable a small business to maximise productivity without the cost of hiring a full-time employee. Technology has made it easy for a small business to connect to skilled professionals globally. It is simply not possible to do everything yourself and small business owners should not try. If a task does not generate revenue or help expand the business then it is probably better delegating it to an outside contractor.
Work where you are
Small businesses can save significant overhead by working from home, a coffee shop or a shared workspace. Doing this eliminates the need of renting office space. However, it can be difficult taking care of everything all by yourself which can sometimes means not being able to answer a phone call from a potential customer which could be converted into a sale. There are a number of ways of maintaining agility without impacting business efficiency. For example, you could get a dedicated business line so you can avoid getting your phone clogged up with personal calls whilst customers are trying to reach you.
Move to the cloud
Over the last few years IT and communications services have migrated to the cloud; Online hosting delivers major advantages to small businesses enabling them to stay both lean and agile. The major benefits for small businesses of cloud based services are cost and flexibility. By hosting key business services in the cloud, small businesses can eliminate costly overheads and pay for exactly what they need. For example, cloud-based phone services which use the internet to route phone calls can have additional lines added or removed immediately. There is no requirement to sign up for a long-term contract, and extra capacity can be purchased up front to deal with possible future growth.