Using Time Tracking to Run a Lean Business
As your lean business continues to grow and expand, it’s often difficult to figure out which tools will help implement the greatest measure of growth without sacrificing quality.
Creating a plan will allow you to focus on the business tactics that make the most sense in your organization. By creating this focused plan, your company will be able to:
- cut back on spending and expenses
- add more money to your bottom line
- create a system using the most vital processes and tools while cutting out the fat.
- utilizing timesheets to lead your company to greater financial success
Organizing your company to reach the next level of growth is never easy to accomplish. Picking the right processes to prioritize is often the most difficult piece of the puzzle to figure out.
If you apply the latest lean business model processes to your company, particularly in your accounting and finance departments, you’ll have an easier time managing your company while keeping your finances in check.
How to Manage Your Company Using a Lean Business Plan
Every company has to create a unique business plan based on their needs as an organization. By creating a lean business plan, you’ll be able to help your company save time and money. And you can do this while managing every one of your employees in the most efficient manner possible.
In an effort to pull this off, we’d like to share some tips that will help you create a lean business plan without sacrificing any of the important aspects of your company that you need to keep intact. Our lean business plan tips and suggestions to help save time and money include:
- Make strategy the largest part of your focus – creating a strategy that utilizes lean tactics is the best way to come up with a plan that works for your business. You will achieve the best results possible when you create a strategy that strictly focuses on doing what you know works and cutting out the rest. As an example, the strategies that you use to manage employees, services, and products should all ultimately work toward helping you achieve your biggest business goals. Your entire lean business plan must stick to this main strategy and never veer off course if you want your business to continue to stay lean.
- Eliminate assumptions and use concrete measurements – in order to use concrete measurements, you’ll need to begin tracking all facets of your business. Time tracking software can greatly help you measure how much time your employees are spending on each individual project. Begin tracking as soon as possible and eliminate all assumptions from here on out. This guarantees that your business will stay lean, focused, and on the clearest path to success.
- Test everything, test often – eliminating waste is always the main goal of every lean business plan. The only way to truly determine if you are wasting time, money, resources, and anything else is to test, test, and test some more! To get the most out of your productivity and time, test your entire lean business plan from top to bottom, and do this regularly to see if any improvements can be made to your system. Some examples of things to test regularly include: manufacturing processes, employee time management, and business expenditures to name just a few vital areas that you need to regularly check in on in your organization.
By implementing a strategy consisting of lean business tactics, your organization should utilize time tracking software to its fullest capacity.
Some of the biggest benefits that you’ll experience include:
- accessing easy to read and understand financial reports
- reading optimized employee timesheets
- having a system fully operational in the cloud
- saving money on payroll with attendance tracking
For many companies, creating a lean business strategy is the best move for the organization. If this feels right to you, consider taking your business in this direction.
About Author: Wendy Dessler is a super-connector with OutreachMama who helps businesses find their audience online through outreach, partnerships, and networking. She frequently writes about the latest advancements in digital marketing and focuses her efforts on developing customized blogger outreach plans depending on the industry and competition. Twitter URL: twitter.com/outreachmama