4 Ways Business is Broken (and How to Fix It)

4 Ways Business is Broken (and How to Fix It)
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4 Ways Business is Broken (and How to Fix It)
Despite all the advances in technology we’ve seen in the last few years, the business world is still often thwarted by archaic obstacles. You might not even realize how these problems are keeping you from being more successful. Here, we look at some of the ways business processes are flawed, and what you can do to fix them.

1. Projects are Poorly Managed
It’s sad to think that we so rarely expect projects to be completed on time, but project management processes often try to be one size fits all instead of customized for a given project’s scope and needs.

If you’ve got a software project, consider Agile project management, which focuses on fast turnaround and smaller tasks rather than a behemoth multi-month project that stretches on and on. And use smart project management software like Basecamp to make sure all tasks are assigned to the appropriate person and that everything has deadlines you can track.

2. Paper Invoices Create Problems
From getting lost in the mail and wasting paper resources to taking longer to process a check payment, the old way of invoicing customers takes up too much time and energy. Electronic invoices, on the other hand, make it possible to receive payment the same day you invoice — something that’s never been possible before.

3. Business Owners Aren’t Always Good Managers
Just because you were smart enough to start a business doesn’t mean you are wonderful at managing other people. Issues communicating and an overbearing, micromanaging attitude can keep your employee turnover high and won’t help you grow your business in meaningful ways.

Be open to change. Read leadership books and blogs to take advice from experts. And be ready to step aside; if you need to hire a manager to oversee your staff, you can do so and put your focus on strategy and growth.

4. Small Businesses Try to Apply Enterprise Solutions
If you’re modeling your strategy or operations on what larger corporations are doing, you’ll fall short of achieving your goals. There are processes and software programs that do a better job at a larger scale that won’t be effective for your smaller company.

Focus instead on those products and processes designed specifically for small businesses. If you can find solutions geared for your industry, even better. The price of small business software is much more affordable than that designed for enterprises, and it’ll be a better fit for your needs.

Don’t just accept what’s broken in the business world; take measures to change it.

 

Drs Jeroen Volk RA

CEO, InvoiceSharing


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