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Four Ways to Maximize your Family Business’ Efficiency

Today is an exciting time in business, and it’s easier than ever to get out there and offer your products and services. However, since the advent of the internet, there’s also more competition now than there ever was before. Not only do you have to keep up with local competitors, but you also have to ensure online competitors aren’t stealing your business. By utilizing these four ways to maximize your family business’ efficiency, you can be on your way to the success you deserve in the modern market no matter your industry.

Monitor Employee Morale

Four Ways to Maximize your Family Business' EfficiencyIt can be easy to fall into the daily grind of running a business and overlook how employees feel about their jobs. However, when they start to feel overwhelmed or undervalued, your business suffers. It may be as severe as employees bad-mouthing the company to friends and family (or worse to the customer) or it could just be less than stellar customer service.

That’s why it’s important to regularly monitor their morale, and there are many non-invasive ways in which to achieve this goal. One way to keep an eye on your employees is to “friend” them on facebook. Many an employer has found out what an employee really thinks this way. Another idea is to allow anonymous comments to be made on an online forum. Some fun ideas you can implement to boost morale include: offering a fun dress-down day at work, allowing personalization of cubicles, providing extra personal work-space to each employee, and making time to interact with employees and compliment the good work they do on a daily basis.

Demonstrations and Tradeshows

Preparing for a demonstration or a tradeshow can be a daunting task. After all, you never know what to expect during a regular business day, let alone special events. Using new and innovative ways of packing and preparing prototypes and booth materials is easily achievable. Some companies, like Hillsboro Industries have cargo trailers that include interior partitions and walls that can be positioned wherever you like. You’ll be readily able to adjust to any situation. Whether you’re getting ready to market your services at an upcoming local event or launch a new product line, you can situate the space to meet your unique needs.

Utilize Outsourcing Power

Whatever market you’re in, that’s your specialty. Spending large amounts of time taking care of things like bookkeeping, marketing, and human resources only takes time away from focusing on what you’re best at. It can be well worth the investment to outsource some of these jobs to turn your time into money. Using your time efficiently is something that needs to be focused on when running a business.

Cloud Storage

Gone are the days when you needed to dedicate an entire room to the storage of years’ worth of materials. With new technology available, you can now store nearly everything of importance in the cloud. This allows quick and easy access wherever you have Internet connection. Free services like Google Drive or Dropbox sync your files automatically.

Creating an atmosphere where your business can thrive and grow is incredibly important in this day and age. Making a business that is reliable and runs smoothly is something every entrepreneur is looking for.

 

About Tim McMahon

Work by editor and author, Tim McMahon, has been featured in Bloomberg, CBS News, Wall Street Journal, Christian Science Monitor, Forbes, Washington Post, Drudge Report, The Atlantic, Business Insider, American Thinker, Lew Rockwell, Huffington Post, Rolling Stone, Oakland Press, Free Republic, Education World, Realty Trac, Reason, Coin News, and Council for Economic Education. Connect with Tim on Google+