"Efficiency - do you set and meet realistic timetables
Effectiveness - do you get things accomplished
Quality - are your end products sufficient."
There are three simple principles to maintaining your business or distinguishing yourself from the competition. Efficiency, effectiveness, and quality control are basic competencies of a sound business. They are not industry specific and may seem like it's too fundamental to be a competitive advantage but you must not to underestimate the fundamentals.
According to the BBC UK "Efficient firms maximise outputs from given inputs, and so minimise their costs. By improving efficiency a business can reduce its costs and improve its competitiveness."(BBC, 2014) The contributors are drawing a direct line from the competency of efficiency to organizational competitiveness.
Many businesses that bid for their contracts try to seem more competitive by
overstating their efficiency and understating cost. The benefit of receiving the contract as the fastest and most under-budget bidder is often outweighed by the negative reputation you will receive for not meeting quality or timeliness standards.
Project managers would tell you that setting the proper schedule is the most important part of starting a project. Knowing when each item is to be completed and to whom each task is assigned lowers the stress around the project and improves work flow.
Time and Money Working together: More profit from your money - A. Roth Tsalate
"...how about letting that hard earned money work for you and have it make a little more cash.
Having good follow through isn't just for golf! Effectively accomplishing your tasks, whether it is for a client or yourself is crucial. After planning your timeline to complete the tasks you must properly assign those tasks to the individuals with the skill-set to complete them. Delegating tasks is often difficult for certain managers but as a business owner it is of the utmost importance. You must be aware of your employees' strengths and assign the tasks accordingly. This is the best way to guarantee that you will create the end product you and or your client desires.
Once a project is planned and completed most start their quality control checks. This is not advisable. You must check the quality and be aware of it through out the entire process. It's like getting a car off of the assembly line and then just hoping that the bolts have all been tightened and that a once over at the end of the process will catch any flaws. This would be a dangerous way to make a car and to interact with your clients. Completed projects that are done on time are great but if the quality is sub par you will not have a returning client and worst case scenario your client may choose not to pay for it. So save yourself the hassle of those situations and make the most of the efforts you have put it to your business.
BBC - GCSE Bitesize: Other methods of cutting costs. (2014). Retrieved January 24, 2017, from http://www.bbc.co.uk/schools/gcsebitesize/business/production/breakevenanalysisrev2.shtml