How to improve small business efficiency Published: 20/03/2020 | by Star Trader

How to improve small business efficiency

Being a small business owner is tough; not only are you going up against big name brands, you’re also likely to face challenges along the way, such as money management and client dependence. Making sure your small business runs efficiently is key for success. Here’s why and how you can get it right if you’re not already. 

Why efficiency is important in small businesses

Whether your business involves working from home and making bespoke gifts, selling goods via an online marketplace, or making extra money by being a Star Trader, business efficiency should play a big part in running your business. It helps to make your small business more profitable and improves your chances of growth – the ultimate goal for many small business owners.

Efficiency is all about making sure your business runs smoothly, so you can make sure everything is as productive as possible. To help you as a small business owner, we’ve put together a few top tips. 

How to make a business more efficient

1. Have a clear business plan

If you haven’t got one already, now’s the time to make one. One of the best ways to improve business efficiency is to have a clear plan. Here, you should outline your business goals, objectives and growth plans. Think about your sales numbers; how much do you need to make to break even? By having a clear business plan before starting your business, you’ll be able to plan ahead and think about potential problems you could face in the future, so you can overcome them when the time comes.

If you haven’t got a business plan yet and you’re not sure where to start, there are some resources out there that can help you. There are some instructions on how to write a business plan on the website, as well as a range of mobile apps that you can download. A favourite is Business Plan Quick Builder. Fill out the easy template, select your preferred style, and you’ll have a business plan in minutes.

2. Set a clear to-do list 

As a small business owner, you juggle a lot of tasks on a daily basis. You have a lot to do, but things just keep coming up and interrupting your flow. Having a clear to-do list, however, helps you to organise your time better doing things that will benefit your business. This is a good tip if you’re looking for ways to improve efficiency in your business. 

So, now that you know you need a to-do list, how do you actually go about making one?

  • Be clear – don’t just write tasks down; give them a description, so you know exactly what needs to be done and when. This will make it easier for you if you have a lot of things on your mind. 
  • Organise your time – and be realistic. Not everything can be done in a day. Start by tackling the most important tasks and work your way down. 
  • Group tasks together – if some tasks are similar, do them together. That way, you won’t have to switch thinking and you may be able to get more done.
  • Give yourself some motivation – don’t make your tasks sound mediocre; give yourself something to aspire to. For example, “get inbox to zero.”

3. Automate as many tasks as possible

Another great way to improve business efficiency is by automating some of your daily tasks. Whether it’s replying to emails, posting on social media or sending customer reminders, automating these small, repetitive tasks will free up a lot of your time. 

Digital marketing is an area that can be easily automated with the right tools and, although these tools may incur upfront costs, they can save you time and money in the future. Some of the best marketing automation softwares include Hubspot, Marketo, Wishpond, and Infusionsoft, all varying in price. Take some time to find the best one for you and your business.

4. Download helpful apps for small businesses

There are some really great apps out there to help you improve your business efficiency. Some of the favourite mobile apps for small businesses include:

  • Hootsuite – this one-stop platform combines all your social media channels and keeps them running, from Twitter and Instagram, to Facebook and LinkedIn. Here, you can schedule posts, so your business presence always stays strong. 
  • Asana – this productivity app combines conversations, business tasks, user dashboards, and team projects in one location, so you can save time looking for things like important emails.
  • Box – download this app and you’ll be able to access all your business documents on multiple devices wherever you are. 
  • Mailchimp – create your own branded email templates, so your business emails look professional. Schedule newsletters and create automated email responses, so you don’t miss any opportunity to speak to your customers.
  • Evernote – keep all your notes stored in one place, not scattered all over your desk. 
  • Trello – if you have a small team that’s also responsible for running your business, then this app will come in handy for organising projects and tasks using a bulletin board system. 
  • Star Trader – for traders, this app is essential to tracking your activations and keeping tabs on your trader status. You can also use it to order more sims if your stash needs a top up. 

5. Invest in the proper equipment and tools

If you don’t have what you need to run your business efficiently, you won’t be able to. In this day and age, you have to be willing to invest in the right equipment. Doing so can help to increase your productivity and ability to meet deadlines/ business objectives. 

For people using Star Trader to make extra money, the good news is that required equipment is minimal; as your main priority is to get activations, all you’ll really need is a desktop computer, or laptop if you’re planning on working remotely, and a mobile phone, so you can keep in touch with your customers and check activations on the go. The beauty of Star Trader is that you can trade how you like. So long as you have the basics, you’ll be able to make money. 

6. Build a strong online presence

One way to improve business efficiency is by having a successful online presence. Having your own website, social media profiles and/ or blog can help you to reach new customers and give them more details on your products and services.

For small businesses, having a strong online presence can bring a whole host of benefits. Here are a few examples:

  • You’ll have your own online identity, including your own domain name.
  • You can use it to build up your reputation as the expert by writing blog posts to educate your online audience.
  • By featuring polls and surveys, you can find out more about your customer base.
  • You’ll spend less time explaining your products and services, as all this information can be found 24-hours a day on your website. 
  • If anything changes with your business, you’ll be able to make updates quickly and easily.

7. Don’t be afraid to outsource

If you’re finding yourself bogged down with too many tasks and not enough time, then outsourcing could be your answer. It’s one of the best ways to make a business more efficient. Outsource some of the mundane tasks and you’ll have more time to get more important things done. Just make sure that whoever you choose to outsource to is more than capable of getting the job done right. Otherwise, you’ll waste money paying them and will probably have to step in to help. 

As well as saving you time and money, business efficiency is imperative to improving customer satisfaction. If your business is running smoothly, more of your time will be freed up to focus on giving your customers a good experience. The more customers who are happy, the more chance you have of making more money.

That’s why the Star Trader business model works for people who want to make money in their own time. After you sign up as a trader, you’ll have access to our dashboard, which has everything you need to run your business smoothly. We do all the work in the background, sending your sims out to you, so you can distribute them. We’ll also send your commission straight to your bank account. 

All you need to focus on is providing your customers with an unbeatable service. Make sure you know everything about our various tariffs, so you have the answers when your customers need help. And remember, we’re always available to offer advice whenever you need it. If you ever need us, just send an email to our team and we’ll give you a helping hand.


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