Your company is running smoothly enough, but you know things could be better. Sometimes, a project gets hung up a few days too long, or meetings that once felt productive and useful now seem to drag on for hours. How can you fix these kinds of issues? By focusing on improving the efficiency of your business. I asked members of the Young Entrepreneur Council for their tips on how they keep their businesses running efficiently, which in turn helps them be more productive.
If You Think Downsizing Might Save Your Company, Think Again
Introducing New Products and Services as a Business Owner
Turning a small business into a big one is never easy. The statistics are grim. An even more microscopic group, just 0. But if that's not good enough for you-;or if you recognize that staying small doesn't necessarily guarantee your business's survival-; there are examples of companies out there that have successfully made the transition from start-up to small business to fully-thriving large business. That's the premise behind the search Keith McFarland, an entrepreneur and former Inc. So I studied the companies who had done it to learn their lessons. What follows are some of the lessons McFarland learned from his study of the breakthrough companies and how they can help you create a growth strategy of your own.
Getting organizational redesign right
You're downsizing, right-sizing, cutting staff and experiencing layoffs, for all the right reasons. Your goal was to increase productivity, quality, customer care, and profitability, and to reduce costs and waste. Like the Phoenix in ancient mythology, you've succeeded. You rose from the ashes and regenerated yourself.
Company restructuring has all the simplicity of reorganizing a small country but with more concern about the lack of snacks. A company reorganization process must be undertaken with sensitivity, strategy, and foresight. Company restructuring is a corporate management term that broadly refers to a company doing one of the following:.