Leveraging success in business involves knowledge, action and education, resulting in a formidable formula to accelerate productivity and the potential to generate tremendous leverage.
To make this happen, the following key areas need to come into play:
• Time – a combination of yours and other peoples
Leverage can be exerted by making the most out of your assets, and combining this with your own personal strengths. As a team leader, you’ll need an extensive range of skill-sets, ideas, experiences and talents. These skills need to be utilised, providing strengths to optimise productivity. Think about the relevant assets that you possess, that those around you do not have? Are you able to create leverage? What unique connections do you have? Financial resources? Or perhaps other assets you can access in order to output a greater effect?
A helpful way to get started with this is to undertake a SWOT analysis, where you can focus on identifying your best assets and strengths and expand on these for identifying potential options and opportunities. A SWOT analysis will assist you to identify critical weaknesses.
This comes down to how you go about your work and how to employ technology to automate this as much as possible. At the basic level, you’ll find that all you might require is a laptop computer as a means to stay in touch with work and home. You may find that a personal digital assistant (PDA) will assist you in maintaining a convenient and backed-up time management plan. Mobile phones which can access your emails or browse the Internet are also helpful tools when you’re in downtime or away from the workplace.
You could also consider using voice recognition software instead of typing. This will allow you to dictate your documents and save valuable time in the process. For example, Google Desktop Search will assist you to better manage and locate documents hence eliminating the need to be filing your digital documents. If you find yourself held-back with routine data processing tasks, desktop data-bases such as Microsoft Access can automate simple processes. The benefit of this process is that it only needs to be set-up once, and can be executed the same way each time allowing you to scale your operations.
Software’s such as Customer Relationship Management (CRM) databases can also be employed for customer service and sales companies who need to track and manage their inventory. You can also consider the use of blogs and email-based newsletters as a means to stay in touch with customers with the push of a button. All of these items leverage technology tremendously.
Leveraging Education & Knowledge
Applied knowledge is a great lever for success. When combining both action and education, this has the potential to generate huge leverage. Learning by way of experience alone is a slow process. So by determining how to accelerate the learning process through formal learning avenues, you’ll expedite the process significantly. Technical and practical training via accredited courses will help to build a foundation of knowledge from the ground up.
By taking these steps to acquire knowledge, you can avoid years of slow and unproductive learning. Learning on the sole basis of trial and error is inefficient. A superior method for teaching and training staff can also be to capture the knowledge from those within the organisational management, and to pass it down through the ranks.
Leveraging your time effectively is the most fundamental strategy to succeed in business. Given that there is only a set amount of time in each day, if you were to use your own time, it greatly limits the out-put needed to optimise productivity. By leveraging the time of other people, you will be able to increase the work output to an extraordinary level.
Delegating is the heart and soul of leveraging your business to it’s full potential. Learn to prioritize and to focus your business activities on the things that are likely to give you the best return on the time spent. Set decisive targets and goals and back this up to motivate yourself in reaching your targeted goals.
Use team building to empower your staff or contractors. Engage consultants and industry experts who can cover the gaps that you fall short in. You can also think about outsourcing tasks to lighten the load so your productivity is not hindered. Providing you are delegating properly, the time and money invested to leverage other people’s time is often well spent.