You’re going to be receiving a massive influx of information in the post-Covid period. In many ways, this near-onslaught of information and data has already started happening, with endless television broadcasts decimating yet another wave of new information as it pertains to how we’re meant to be navigating this “new normal”.
But what does all of this actually mean if you’re trying to restart your business, save it or start from scratch? How do you digest all of this information and turn it into something that makes sense for you?
Two Words: Business Efficiency. How does this all tie-up? Read on.
FIRST, LEARN TO REALISE BUSINESS OPPORTUNITIES
According to accounting firm PriceWaterhouseCoopers or PWC, in the post-Covid era, businesses will have to focus on five key focus areas, namely;
Business resilience.
Future of work.
Future supply chain capabilities.
Finance and liquidity.
Tax, trade and regulatory.
No matter where you’re at in the “starting a business” conversation, you’re going to have to spin around these five key focus areas because between them, they will govern and dictate how your business is going to operate in this new terrain.
So when you’re considering new business opportunities and how to best capitalise on the upswing in global economic activity, you’re also going to have to be able to answer the processes and operational demands of these five areas. But the good news is that the entire global economic system has been permanently altered by the pandemic (yes, this is good news) because it means that if you’re innovative enough to respond to the call for new services in the business realm, you’re going to be a winner.
HOW DOES ALL OF THIS MATTER TO BUSINESS EFFICIENCY?
It all comes together for you as an aspiring or existing entrepreneur because it’s far too easy to get caught in the melee of information as opposed to using it to make your business more competitive, more cost-effective and therefore more relevant and the most innovative, most intelligent way to do this is by ensuring that all of your business processes are as efficient as they could be. The UK business environment will look different to how we know it, that’s for sure.
3 WAYS YOU CAN IMPROVE YOUR BUSINESS EFFICIENCY RIGHT NOW
In 3 ideas: Time management, communication management and optimum operational capacity.
Time management continues to be one of the biggest challenges in the modern business world, with far too many businesses wasting precious time by simply not thinking through decisions and testing potential outcomes based on historical data. Fair enough, much of that recorded data is less relevant now than before the pandemic, but less relevant doesn’t mean not relevant.
“Communication management” means removing the blockages and barriers to communication that have traditionally slowed down or made sluggish the way your business runs. But it also pertains to how you communicate with your customers and partners, so things like effective document management (like how you convert ppt to pdf online to make documents more transferrable and manageable) should become more standard in your operations.
This means that that open-door policy you’ve been yapping about to your teams, it may be time to start taking that seriously. But you’re still going to have to be smart about it because too much access has the unintended consequence of wasting time in and of itself.
Optimum operational capacity means overhauling every process that governs how your business does its business, from how you interact with customers to how you run meetings, how you produce your product or service, and how you arrive at your gross profit. It is not a “one time” the only event and needs to be included in your business’ living document, your business plan.
There is much opportunity afoot, and to be best placed to take advantage of all of it, you’re going to need to be ever increasingly competitive and starting here is how you’re going to achieve that.