Does Your Small Business Track Time as a Growth Management Strategy?
March 15, 2023 at 2:35:00 PM EDT By Lexie Dy
Understanding the Benefits of a Growth Management StrategyBusiness owners celebrate success when sales go up and the business expands. For sustainable growth, it's important to implement a growth management strategy that truly supports your business goals and needs. Doing so will make the transition smooth and efficient There are certain key aspects of a growth management strategy, such as the following:
Customer relationship management (CRM) platforms are highly effective tools in combining all of these focus areas into a single, consolidated area. CRMs are great for positioning small businesses for growth. Depending on the CRM, it's possible to hire optimal talent and keep finances organized. Other benefits include optimizing marketing and focusing on business strengths. Embracing technology and software tools also help to track time and identify room for improvement. Key Factors of Time TrackingThere are several benefits of using a time tracking system to simplify the management of staff's time. The Telegraph notes that businesses lose valuable time in several ways. For example, failing to update outdated processes, over-communicating, lack of collaboration, and more. Time tracking software allows weaknesses to be identified so that efficiency can be prioritized. Make Time Management EasierTime management doesn't need to be an effort. Investing in a software tool simplifies time tracking. In the process, the software identifies room for improvement and highlights where time can be saved. When time is invested wisely, then the business can grow. Use Project Management SoftwareProject management software can be a valuable tool for time management, providing a range of benefits that can help individuals and teams stay on track and achieve their goals. This allows users to break down complex projects into smaller, more manageable tasks, providing a sense of structure and direction that can improve efficiency and productivity. Additionally, many project management tools offer features such as task tracking, automated reminders, and real-time progress updates, making it easier to stay organized and focused on key priorities. Ensure Software IntegrationAn ideal system will have software integration features, offering solutions across the board. When time is monitored on different platforms, it offers insights into various tasks and projects. For example, slick software integration offers insights on reports, estimates, invoicing, payroll, and more. Focus on Real-Time ReportingData becomes significantly more valuable when received immediately and with the right context. Rather than jumping from one database to another, scanning the information for specific data points, the information is readily available as needed. In this way, real-time reporting saves time. Take Advantage of Mobile AppsThere has been a dramatic increase in the number of people doing business on their mobile phones. Considering the increase in mobile usage, it's worthwhile investing in mobile software apps, allowing people to track time from anywhere. There are several time tracking apps available, and each does something slightly different. Chrometa works in the background and allocates your time for you whereas RescueTime is more tailored to tracking billable hours. Choose the one that best fits your needs and launch your time efficiency practices! When a business is able to save time, then they inadvertently save money. Tracking time in an unobtrusive and streamlined way is an effective way to improve productivity and make space for business growth. Author BioLexie Dy is currently working toward her MBA. She uses her spare time to volunteer for Ready Job. She is a career counselor who enjoys researching and sharing helpful job and career resources. Lexie also strives to help students and young adults be as prepared as possible for today's challenging workforce. |