Time: The 5 Shocking Ways Your Business Is Wasting It

Time is always the enemy, and that applies in particular when you run a business. It’s the one commodity that you cannot buy, even if you had a limitless bank balance! As you can appreciate, most companies do what they can to stay efficient and not waste time.

The trouble is; some firms waste a lot of time without even knowing it! Others may know they waste time but feel it’s only a trivial amount (like a minute). Of course, we all know that wasted time builds up and over a year can amount to A LOT of idleness! Are you worried that your business is not managing its time efficiently? These five examples might apply to you!

  1. You manage suppliers and invoices the old-fashioned way

First thing in the morning, you have a team of people to deal with your incoming post. The contents of each envelope get diverted to the relevant department. Your accounts payable department deals with suppliers and their invoices.

Their day usually involves matching up invoice details to what you’ve ordered. Plus, they have to figure out mismatches from bills. The modern way to save all that effort is to work with a supply chain consultancy. Why? They can help you put in place an automated system that your suppliers also use. For instance, you could use something like EDS.

  1. You have too many meetings

Some people just love the sound of their own voices! The trouble with meetings is they drag on and are just an excuse to not do any work! The only real thing that happens in most meetings is procrastination.

Meetings take up a lot of valuable time. Instead, consider using email to communicate your ideas, opinions, or feedback. If you’d rather have a more personal approach, opt for a lunch meeting instead.

  1. Emails don’t get filtered

Even basic email programs offer some kind of email filtering abilities. When something new lands in your inbox, you may feel compelled to drop what you’re doing and deal with it. Instead, set up some email filtering rules and divert them to different holding areas.

Did you know that most emails received tend to be junk mail messages or newsletters? They aren’t exactly high-priority messages!

  1. The Internet is a temptation you can’t resist

It doesn’t matter whether you are a lowly shop worker or someone in senior management. It’s hard to resist the temptation to pop onto Facebook for a bit or do some Googling. It’s a well-known fact that many people waste their time online for non-work reasons.

Consider putting in place a proxy server to filter out Internet requests. That way, you can block sites such as social media during working hours.

  1. Your team won’t leave you alone

Do you have employees that feel they must run EVERYTHING past you before they make a decision? If so, it’s time to teach them to take charge of their work! Constant interruptions can account for a significant proportion of your day.

When that happens, you seldom have enough time to dedicate to projects that you work on. Cut the interruptions and watch the productivity increase!

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