Forums: Discussions for entrepreneurs and small business.

Getting your business on the road to profitability does, of course, revolve around 'efficiency.'

If your business is not efficient in its operations (tasks, workflow, etc.), the profit you could have made is forever lost - you essentially 'gave your money away!'

How would that make you a good businessman/businesswoman?

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I agree that efficiency is the beginning of a successful business.

I've elarned that writing down goals and prioritizing leads to efficiency.

Writing a LIST OF THINGS TO DO and a timeframe must be viewed daily.

Your Business Plan reflects the BIGGER PICTURE. Your daily activities should be leading you to achieve the landmarks you've established for you business growth.

Your Business Plan and your Daily list are the GPS that will get you to your destination.

I agree efficiency & productivity are key in business management. It’s good to have strategic management, strategic planning & onshore outsourcing for your business or projects. This helps with improving on efficiency & productivity. When a business owner or professional stops trying to be a superhero doing it all & learn to delegate & outsource they can improve on their business or projects. A person needs to recognize, know & understand when to let go, delegate & outsource. Onshore outsourcing along with strategic planning & strategic management helps to streamline business processes, improve on business efficiency, productivity & it’s bottom-line.

Well business efficiency is something you need from the beginning. If you are not efficient enough, there is no way your business will succeed in the long run.

Another point is that being efficient doesn't mean you have to do everything in an efficient manner yourself.  Efficiency through delegation is how you go from a small business to a large one.

Although, having strong personal discipline regardless of the task at hand is one of the fundamentals of being an entrepreneur.   By the way.., this is my exact downfall.. I always want to do what's fun in the business building process.., so I delegate the other.

Phil.

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Well efficiency does play a significant role in achieving success yet strategic business planning along with effective delegation of responsibilities are equally important.