Running a business can be a rollercoaster ride, whether you're a tradie, consultant, engineer or any other type of business owner. In today's economy, where investors and owners are concerned about the possibility of a recession, it's more important than ever to keep your business lean.
While obtaining funding may not be as easy as it used to be, it's still possible to grow your business and achieve the funding you need. It's time to refocus on your growth plan, get back to basics, and seize opportunities as they arise. So, whether you're a startup founder or a seasoned business owner, it's time to get lean and efficient.
Learned from many successful, lean businesses, here are some tips to help you run a lean business:
Any business owner understands the importance of capital and cash flow. Knowing how to convert sales into cash, minimise outflows and reduce the time your working capital is tied up is crucial for reducing reliance on external funding. This is especially important in times of rising interest rates and reduced investment.
Without data, or accessibility to insights, a business will surely crumble. To run a lean business, you need a clear understanding of your finances and operations. Use data to identify areas for improvement and make informed decisions about where to invest your resources.
A huge part of leveraging data is proper use of systems, methodologies and internal processes.
With cloud-based systems, access to business apps has never been easier and more affordable with low set up and infrastructure costs.
For service based business in particular, transforming business processes to become more efficient and lean has never been easier with WorkflowMax integrations. By automating data and tasks, and simplifying task management, businesses can optimise your workflow and redirect focus towards more critical tasks, such as client relations and project management.
Leverage software integrations
Some of the most popular software integrations tools are:
With investment appetite currently at a low, it's important to use your money strategically. Prioritise your investments around initiatives that will help you grow your business in the short to medium term and look for cost-saving measures that can increase your profit margins.
Uncertainty can be daunting, but having a clear plan for growth and building a resilient business is essential. Businesses who are too widely spread in their sales, marketing, and operations often struggle with remaining lean and profitable. Focus on your core business, the part of your business you do the best, and get back to basics.
Creating a strong foundation that will enable you to capitalise on new opportunities quickly and easily, when others can't.
Through leveraging WorkflowMax by BlueRock’s quoting functionality, businesses can easily leverage past projects to execute on new business quotes quickly and confidently.
With our updated user interface, this feature is easier than ever, allowing businesses to save time managing jobs, and more time billing (their time) and profiting.
Register your interest now for WorkflowMax by BlueRock to stay informed of the upcoming Beta release in December 2023.