4 Powerful Business Hacks to Increase Productivity, Efficiency and Business Profitability

There’s a “hack” for everything these days, and a lot of them are complete nonsense. However, there are a few business hacks that can help you as a small business owner to increase productivity, efficiency and ultimately, increase business profitability.

A big part of staying ahead of the competition is learning how to do more with less, so let’s take a look at some hacks that can bring big benefits for your business.

What Are Business Hacks?

A business hack is a simple shortcut or tip that lets you do more with your time and resources. It could be an app, software program, tool or something else entirely – but the point is to reduce wasted effort in one area of your work so you can focus on other areas instead.

#1 - Automation 

In many cases, it’s not possible or practical to do everything yourself. That’s why automation is so important – the more you can outsource and automate, the better off your business will be because you have more time for other things that actually move the needle.

You can automate everything from social media posts to accounting. In fact, you can even automate parts of your sales process by using lead management and email marketing software.

Automation also eliminates human error and allows you and your team to focus on more important and interesting tasks, increasing productivity and engagement. 

One of the biggest things you can automate for the greatest time saving is managing your bookkeeping: using a tool like Hubdoc with Xero can reduce the amount of time you spend searching for missing invoices and receipts. Everything is together in one place, using the handy app, and you need never look for that missing receipt ever again!

#2 - Get Super Systemised

It's important to regularly review your business processes and either streamline them or eliminate them if they're no longer serving you. If you’re serious about running a successful business, then it all comes down to systems. Having an effective system in place makes everything from sales and marketing through to accounting easy - or easier, at least.

The more automated your systems are, the better. You can even get to a point where you’re able to hire employees and contractors who don’t need close supervision because they know exactly what their job is and how it fits into the bigger picture. This way you can focus on your business strategy and growing revenue rather than wasting time and resources on micromanagement.

#3 - Leverage Social Proof 

​​Social proof is one of the most powerful ways to attract new customers and clients. It’s so effective because it takes advantage of human psychology – people trust other people, not businesses or brands.

Think about how you make decisions for yourself: do you consider every little detail before making a decision? Or are you more likely to follow the crowd and do what most people are doing?

Social proof works by showing your potential customers that other people have made a decision to buy from you, so they’re more likely to follow suit. 

Leverage your existing customer base. Referral discounts are a low-risk strategy because you don’t offer the reward until after you’ve successfully gained a new customer. You could also send automated emails asking customers for reviews and testimonials which you can then feature on social media, your website and in your advertising campaigns.

#4 - Introduce a Phone-Free Hour 

Smartphones are amazing, but they can also be a big drain on employees' time and attention. Banning phones from your offices completely is unrealistic and would likely lead to some kind of revolt, but introducing a daily phone-free hour to create time for maximum focus and efficiency. 

This "device-free" hour will help to keep employees on task, productive and engaged. It’s also a good way of reducing stress levels because smartphones are known for causing burnout due to their constant pinging with notifications from apps like Facebook or Instagram.

Summary 

By harnessing these four business hacks, you can boost your productivity and free up more time for the important stuff. For best results, combine them all to maximise the impact on your bottom line.