Efficiency Tips to Help Grow your Business

A key to making any business run smoothly and with minimal interference is automation—building systems that operate efficiently and free you up to focus on growth strategies.

Efficiencies can be gained in a variety of places throughout your business. When considering where to start, my recommendation would be to first review your business plan and analyze the components that may be having a major impact on your bottom line.

Given the amount of tasks required to effectively run a property management business, it can be overwhelming assessing which areas may need to be enhanced. Here a few areas that you can determine first to decide if these can be further streamlined in your department.

Have a checklist for every process

When you build checklists for recurring tasks, you ensure things are more likely to get done right every time improving your risk management whilst also assisting with staff training.

Employee Motivation

There is also a need to identify motivation killers in the workplace. We need to carefully observe the work environment in search of problem areas that adversely affect employee motivation. Typical motivation killers include toxic people, abrasive personalities, lack of organizational vision, absence of opportunities for professional development, poor communication systems, and the feeling of lack of appreciation.

Set Clear Goals and Provide Feedback

Employees will be more motivated if they know what they are expected to achieve. Clearly stating goals or having a company vision provides guidance for everyone. Short-term goals, in particular, are effective in encouraging employees to properly manage their time when completing tasks to meet targets.

Communicate Effectively 

Communication, without a doubt, is a crucial aspect of any business operation. Without an effective system of communication in place, you will have difficulty in achieving goals and even in functioning properly.

Reduce paper and embrace technology

One of the quickest ways to streamline your business is to look at the paper flow.

The reason it is more challenging as a property manager to reduce paper is, "because it's always been done that way." Streamline the process by eliminating or reducing the amount of “hard copy” paperwork needed to complete the processes. You may have a single piece of paper that is past back and forth 10 times because that part of the process is not electronic.

Archive Management 

Another area to investigate is filing and storage. File cabinets and storage boxes take up valuable office space and really are now a thing of the past. We need to start embracing technology more by using a document management (electronic) filing system.

Maintaining and enhancing productivity in the workplace is not always very easy to accomplish but in many cases, there is already collective wisdom within your business who can offer suggestions on how to improve the workflow, but it is extremely difficult for any one person to make a change in a work process without the opinions and involvement of other employees and the support and direction of management.

Three key things to remember: the need for employee motivation, the proactive involvement of managers, and the use of technologies and systems that greatly help employees in doing their work more efficiently. If you thoughtfully execute a plan using these concepts, you are on the right track.