Angel investor, business mentor and Prana Partners founder Mark Lyttleton supports early-stage ventures and small businesses, helping entrepreneurs to establish and grow their enterprises. This article will look at business optimisation, providing pointers to not only make businesses more sustainable but more profitable too.
For businesses today, it is crucial to develop
sustainable processes that help workplace operations to run smoothly. Critical
thinking is a vital tool, enabling leadership to evaluate and optimise
operations. Irrespective of size, businesses operating in all industries can
benefit from implementing sustainable operations due to the growth
opportunities and cost controls that business optimisation can provide.
Business optimisation is essentially the process of
making a business more efficient by enhancing its performance and increasing
its productivity. It can help enterprises to overcome issues with both internal
and external operations, for example, utilising new technology to increase
production or engagement.
Key components of business optimisation include:
·
Audits, reviewing the business’s operational systems to help eliminate
redundancy or waste
·
Analytics, reviewing statistics to help business leaders make better-informed
decisions
·
Goals, setting targets for the company to achieve as part of a
well-crafted business plan
Business optimisation is critical to the success of
any venture, helping the business to gain efficiency, remain competitive with
other businesses offering similar products and maintain cost-effective
operations.
The key to business optimisation is developing the
right company culture. In order to achieve this, founders must identify their
business’s higher purpose. Rather than merely seeking to purchase products or
services, people are actually investing in outcomes: solutions, results,
benefits, value, answers, improvements, advantages, pleasure, fulfilment,
prestige, enjoyment etc. The higher purpose of a business is to turn these
positive outcomes into a reality for the customers it serves by promoting and
selling outcomes rather than services or products.
It is also vital for businesses to operate with
integrity, implementing policies towards customers and employees alike that are
based on fairness and service. Maintaining a happy and contented workforce who
know that they are sincerely appreciated is incredibly important today,
reducing staff turnover and all of the associated costs such as recruitment and
training.
Prana Partners helps companies at all stages of
their evolution, providing thoughtful strategic advice to help them grow and
flourish. Conceived to share knowledge acquired over many years of investing,
Prana Partners aims to bring a degree of humanity to business, helping
companies to map out a strategic path to fulfil their vision.
