Three SMB Pain Points (And How To Relieve Them)
Small and medium sized businesses face similar challenges to enterprises but have less resources to mitigate the pain points. Identifying and relieving these productivity drains is crucial to the success of your business.
A Closer Look at Common SMB Pain Points and Their Cures
Pain Point #1 – Time Management Mistakes
Whether you are a one man show or managing a slew of employees, exercising time management is essential to the survival of your business. The old adage “time is money” has actually been quantified by Mavenlink, which found that 25% of businesses believe each productive hour in a day is worth upwards of $500.
Identifying priorities and time consuming tasks is the first start to boosting productivity and easing the pain. A study by Service Now found that managers spend 2 days a week, on average, on administrative tasks, and that this prevents them from doing strategic work. Implementing technology designed for productivity will drastically reduce the manual administrative work that is prohibiting you from finishing other projects, thinking big picture, and taking time to yourself.
Pain Point #2 – Inefficient Internal Communications
Your profit growth does not just depend on efficient communications but your employees do as well, in fact they are asking for it. A study shows the majority of employees say that the way their employer communicates with them directly impacts their satisfaction with their job.
While most SMBs cannot afford to have a dedicated internal communications staff, they can deploy employee management tools that allow employers to have mobile communication with employees. Also, they can implement a transparent and flexible method of managing multiple workflows with online and mobile shift scheduling.
Pain Point #3 – Outdated Technology
Having an antiquated tech setup can cost your business more and decrease productivity. A Microsoft study found that more than 90% of consumers would consider taking their business elsewhere rather than work with a company that used outdated technology. In addition to customer attrition other potential costs include time, data, security, and many others.
As technology becomes an increasingly inseparable part of our lives, investing is a small price to pay to remain competitive. With Revel iPad POS System business owners can take full advantage of the system to make commerce painless and free the owner to drive focus on strategy.