Assessing Company Procedure During Periods of GrowthAdmin@ | February 22, 2019 | 0 | Business
As your business grows, it’s important to consider which routines and processes need re-evaluation with the changes that growth brings. Procedures that once saved money in the early stages of development may cost you time and money as your company progresses. Here are three key areas you should regularly asses in each new phase of growth.
Are you packaging a product by hand? A pail filling machine measures with exact weight while saving time. A labeler can guarantee visual consistency. You can find a specialized machine for almost every manufacturing and packaging need out there. This allows you to eliminate more human error while meeting more client demands.
When you first started your business, you probably relied on a handful of multitaskers who could work in several areas to cover all of your basic needs. An employee who’s pulled in many directions will struggle to get their best work done in a timely manner. It may be time to expand your team and hire more skilled personnel who can focus on one area with excellence. Place your current team members in a role where they’ll shine.
Every business owner wants to distribute a quality product or service as inexpensively and quickly as possible in order to turn the most profit. But equipment and conditions that may be considered hazardous can sink your investment faster than a struggling economy. Are you working in a space that’s not designed for production? Have you hired more employees than your location should accommodate? Did you purchase and repair old machinery to save money during your first year as a new startup? Conduct a thorough evaluation and inspection of your premises to ensure all laws and standards are being met.
It’s easy to maintain current practices when the waters are calm, but routine can often hinder progress. Consider which areas you need to invest in to earn more money long term.