Best business and productivity tips of 2009
Most of us are either working for or own businesses. It doesn’t matter, be it employees or employers (business owners), we still need to increase the profitability of the businesses. In simple words, more profits simply mean generate more revenue than expenses.
We always heard that productivity is important if employee wants to do well in his career and companies want to do well in their businesses. To use an engineering perspective to explain productivity – amount of work done per unit time. I know it should be called power in physics and engineering. As you can see, the more work you can do in the same unit of time, the more productive you are. High productivity is good whether as an employee or managing own businesses.
However, doing more of work per unit time that does not lead to increased revenue is useless. High productivity is not the whole story but high productivity in doing things that matter is the whole story.
Let us look at the following aspects of a business in layman explanations and see that one need to do work that adds value in each aspect if one were to improve both career prospects and revenue of a company.
Marketing – what the target consumers want
Advertising – letting the target consumers that you have what they want
Production – Able to produce it with reasonable, acceptable and required quality
Sales – Simply sell
Order fulfillment- transporting the goods and services customers after sales are made
Pricing – what target consumers are willing to pay for the goods and services
Every one of us, including completing businesses only has 24 hours each day, which is why the increased in work done per unit time, i.e., productivity, need to be in improving the six areas mentioned above.
For instance, improving productivity in attempting to improve an already great product is not as effective as letting more of your target market know what they want which is doing more work for advertising side.
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